Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex+0.145%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1801.804% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.145%, 7d avg +0.136%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.1370	0.0100	pay 0.0100% / 8h	2h 00m	$3.8M	$8.2M	50x
Short	SunX NEAR-USDT	4.1430	0.0100	get 0.0100% / 8h	2h 00m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.136%: $0.85
Slippage, 4 orders: −$160.35
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$179.5
Costs to cover: 1.804%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: live order book, 4 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, 4 min ago	4.83 bp	23.6 bp −$24	50.0 bp −$500	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	31.40 bp	84.3 bp −$84	doesn't fit	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
Reya NEARRUSDPERP	−0.0171%	1h	4.1367	−0.006%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1463	+0.225%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1408	+0.092%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1459	+0.215%	$401K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1395	+0.061%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.097%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1380	+0.024%	$110K	$493K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1408	+0.092%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1360	−0.025%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1410	+0.097%	$2.9M	$5.9M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.1395	+0.061%	$349K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1373	+0.007%	$235.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1350	−0.048%	$210.6M	$428.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1350	−0.048%	$56.4M	$275.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1252	−0.286%	$235K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1375	+0.012%	$29.5M	$58.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1370	0.000%	$81.5M	$145.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1410	+0.097%	$56.0M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1368	−0.005%	$68.8M	$126.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1370	0.000%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1354	−0.040%	$7.7M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1358	−0.029%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1313	−0.137%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1340	−0.073%	$181K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1415	+0.109%	$203K	$3.1M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.1430	+0.145%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1385	+0.036%	$5K	$46K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.1370	long leg	$3.8M	$8.2M	50x
Extended NEAR-USD	+0.0104%	1h	4.1375	+0.012%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1395	+0.061%	$201K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1380	+0.024%	$308K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1413	+0.103%	$7.5M	$37.0M	50x	as long as short
01 Exchange NEARUSD	+0.0152%	1h	4.1375	+0.012%	$12K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0209%	1h	4.1425	+0.133%	$1.8M	$2.1M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1360	−0.024%	$12.3M	$33.6M	75x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.1426	+0.135%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0356%	1h	4.1355	−0.036%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0379% / S −0.0324%	1h	4.1400	+0.073%	$277K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1389	+0.045%	$412K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1419	+0.118%	$1.7M	$2.8M	10x	as long as short
Lighter NEAR	+0.0704%	1h	4.1432	+0.150%	$15.2M	$23.1M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0738%	1h	4.1404	+0.082%	$1.4M	$5.7M	20x	as long as short
Hyperliquid NEAR	+0.0826%	1h	4.1422	+0.126%	$348.3M	$299.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0931%	1h	4.1344	−0.063%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1054%	8h	4.1500	+0.314%	$446K	$3.7M	75x	as long as short