Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Phemex+0.019%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.1490	0.0100	pay 0.0100% / 8h	1h 48m	$3.8M	$8.2M	50x
Short	SoDEX NEAR-USD	4.1498	0.0100	get 0.0013% / 1h	48m 36s	$5K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → 0.000%: $1.93
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$18.07
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; SoDEX: no order-book sample. Net counts fees only.

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	1.21 bp	15.1 bp −$15	42.1 bp −$421	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Reya NEARRUSDPERP	−0.0171%	1h	4.1481	−0.021%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1379	−0.268%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.193%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1526	+0.088%	$106K	$56K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1462	−0.067%	$434K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1505	+0.036%	$205K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1538	+0.115%	$7.5M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.1562	+0.174%	$12K	$7K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.1576	+0.208%	$15.3M	$22.5M	15x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1540	+0.121%	$111K	$493K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1512	+0.053%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1523	+0.079%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1560	+0.169%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1539	+0.118%	$350K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1544	+0.131%	$236.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1540	+0.121%	$212.0M	$425.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1530	+0.096%	$56.8M	$276.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1550	+0.145%	$308K	$1.6M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1541	+0.123%	$29.6M	$56.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1520	+0.072%	$81.8M	$140.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1530	+0.096%	$56.1M	$44.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1523	+0.080%	$69.0M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1520	+0.072%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1461	−0.069%	$7.7M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1473	−0.042%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1500	+0.025%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1240	−0.603%	$181K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1528	+0.092%	$197K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1560	+0.169%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USDshort	+0.0100%	1h	4.1498	+0.019%	$5K	$46K	10x
Phemex NEARUSDTlong	+0.0100%	8h	4.1490	long leg	$3.8M	$8.2M	50x
Bulk NEAR-USD	+0.0100%	1h	4.1450	−0.096%	$236K	$4K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1517	+0.065%	$3.8M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1500	+0.024%	$200K	$62K	3x	as long as short
Lighter RH NEAR	+0.0152%	1h	4.1566	+0.183%	$1.4M	$6.9M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1460	−0.072%	$12.2M	$33.4M	75x	as long as short
Hyperliquid NEAR	+0.0337%	1h	4.1582	+0.222%	$349.4M	$298.1M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1565	+0.180%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0379% / S −0.0327%	1h	4.1501	+0.028%	$279K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0463%	1h	4.1577	+0.210%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0501%	1h	4.1509	+0.046%	$1.8M	$3.6M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1447	−0.104%	$1.7M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0641%	1h	4.1550	+0.145%	$1.8M	$2.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.0907%	1h	4.1406	−0.202%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1019%	8h	4.1490	0.000%	$444K	$3.6M	75x	as long as short