Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0818%/8h= +89.6% APRpaid last 24h +0.133%

Price spread now: RISEx against Phemex−0.184%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.373%+$37 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.184%, 7d avg +0.034%

Together, before fees+0.489%+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.219% cheaper against Phemex than usual: you would sell low and buy high (spread −0.184% now, against its 7-day average of +0.034%). If the spread goes back, that is −$22 on $10k: about 21 hours of funding at the current rate (+$25 a day). At the pace of the last 3 days (+0.373% in total) that is about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3130	−0.0390	get 0.0390% / 8h	7h 48m	$3.9M	$8.6M	50x
Short	RISEx NEAR/USDC	4.3050	0.0428	get 0.0054% / 1h	48m 33s	$409K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee RISExbpOrdersPrice spread, now −0.184%Rate

Funding earned: $171.87
Price spread: −0.184% → +0.034%: −$21.87
Slippage, 4 orders: −$33.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $98.21
Costs to cover: 0.518%
Break-even: 3.0 days

Slippage from Phemex: live order book, 5 min ago; RISEx: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 5 min ago	2.32 bp	20.9 bp −$21	49.0 bp −$490	doesn't fit	doesn't fit
Sell RISEx live order book, 5 min ago	2.89 bp	5.9 bp −$6	15.1 bp −$151	doesn't fit	doesn't fit

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NEARUSDTlong	−0.0390%	8h	4.3130	long leg	$3.9M	$8.6M	50x
Bybit NEARUSDT	−0.0182%	8h	4.3040	−0.209%	$219.5M	$419.0M	75x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3030	−0.233%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3162	+0.074%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3016	−0.264%	$2.3M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3035	−0.221%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3058	−0.167%	$377K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3120	−0.023%	$204K	—	150x	as long as short
01 Exchange NEARUSD	+0.0008%	1h	4.3062	−0.158%	$13K	$7K	10x	as long as short
Variational Omni NEAR	+0.0014%	8h	4.2988	−0.328%	$7.9M	$18.6M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.988%	$578	$302K	12x	as long as short
Gate NEAR_USDT	+0.0060%	8h	4.3011	−0.276%	$31.0M	$58.6M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3060	−0.162%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3150	+0.046%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3013	−0.271%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3086	−0.101%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3042	−0.204%	$403K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3060	−0.162%	$255.7M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3040	−0.209%	$61.2M	$280.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3030	−0.232%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	−0.185%	$245K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3020	−0.255%	$79.8M	$138.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3040	−0.209%	$56.3M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3033	−0.225%	$71.4M	$124.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3020	−0.255%	—	$140.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3062	−0.159%	$267K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3082	−0.112%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3000	−0.301%	$180K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3068	−0.144%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3190	+0.139%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3140	+0.023%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0102%	8h	4.3200	+0.162%	$460K	$3.6M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2989	−0.326%	$3.9M	$16.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3140	+0.023%	$201K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3080	−0.116%	$13.0M	$29.3M	75x	as long as short
Hyperliquid NEAR	+0.0326%	1h	4.3098	−0.074%	$367.5M	$300.1M	10x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.3100	−0.070%	$1.6M	$6.8M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0313%	1h	4.3117	−0.029%	$276K	—	100x	as long as short
RISEx NEAR/USDCshort	+0.0428%	1h	4.3050	−0.184%	$409K	$1.2M	10x
Nado NEAR-PERP	+0.0437%	1h	4.3022	−0.251%	$1.9M	$3.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0492%	1h	4.3172	+0.097%	$1.9M	$3.0M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0499%	1h	4.3177	+0.109%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.095%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1236%	1h	4.3045	−0.197%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2232%	1h	4.3175	+0.104%	$17.3M	$23.9M	15x	as long as short