Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0363%/8h= −39.8% APRpaid last 24h −0.144%

Price spread now: Aster against Phoenix−0.105%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.683%−$68 on $10k

Price spread, last 7 days+0.152%+$15 · spread now −0.105%, 7d avg −0.156%

Together, before fees−0.531%+ Points / potential airdropAster: Stage 5 · farm board−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.051% dearer against Phoenix than usual: you sell high and buy low (spread −0.105% now, against its 7-day average of −0.156%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NEAR	4.2887	0.0463	pay 0.0058% / 1h	3m 17s	$1.8M	$2.7M	10x
Short	Aster NEARUSDT	4.2842	0.0100	get 0.0100% / 8h	3m 17s	$3.0M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$76.29
Price spread: −0.105% → −0.156%: $5.07
Slippage, 4 orders: −$28.93
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$115.15
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Phoenix: live order book, 5 min ago; Aster: 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 Phoenix live order book, 5 min ago	0.93 bp	12.3 bp −$12	51.0 bp −$510	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	3.50 bp	8.8 bp −$9	16.8 bp −$168	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	4.2783	−0.244%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2832	−0.128%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2842	−0.105%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2868	−0.044%	$374K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2827	−0.140%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0032%	8h	4.2749	−0.321%	$7.8M	$18.5M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.444%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0040%	8h	4.2791	−0.224%	$217.8M	$421.9M	75x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.2838	−0.114%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2810	−0.180%	$110K	$495K	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	+0.0100%	8h	4.2830	−0.133%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2823	−0.150%	$31K	$647	10x	as long as short
Aster NEARUSDTshort	+0.0100%	8h	4.2842	−0.105%	$3.0M	$5.7M	50x
Pacifica NEAR	+0.0100%	1h	4.2843	−0.101%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2830	−0.133%	$253.8M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2810	−0.180%	$60.8M	$286.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2830	−0.133%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2757	−0.303%	$244K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2790	−0.226%	$30.9M	$60.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2820	−0.156%	$79.2M	$142.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2840	−0.110%	$55.9M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2802	−0.198%	$71.0M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2790	−0.226%	—	$140.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2741	−0.340%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2826	−0.143%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2820	−0.156%	$179K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2810	−0.180%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2880	−0.016%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2824	−0.147%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2830	−0.133%	$3.9M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2798	−0.207%	$3.9M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2825	−0.145%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2853	−0.079%	$7.6M	$37.4M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2850	−0.086%	$13.0M	$29.4M	75x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2929	+0.098%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0316%	1h	4.2824	−0.146%	$276K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0404%	1h	4.2866	−0.049%	$1.9M	$2.7M	25x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2848	−0.090%	$420K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0450%	1h	4.2947	+0.140%	$1.4M	$5.6M	20x	as long as short
Phoenix NEARlong	+0.0463%	1h	4.2887	long leg	$1.8M	$2.7M	10x
Hyperliquid NEAR	+0.0595%	1h	4.2858	−0.068%	$365.5M	$301.0M	10x	as long as short
Nado NEAR-PERP	+0.0654%	1h	4.2793	−0.220%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0743%	8h	4.2970	+0.194%	$458K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1172%	1h	4.2860	−0.064%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.2950	+0.146%	$16.9M	$24.7M	15x	as long as short