Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1062%/8h= −116.3% APRpaid last 24h −0.146%

Price spread now: Phemex against RISEx+0.108%7-day average −0.037% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.408%−$41 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now +0.108%, 7d avg −0.037%

Together, before fees−0.247%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.145% dearer against RISEx than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of −0.037%): +$15 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 4 days (−0.408% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx NEAR/USDC	4.3403	0.1162	pay 0.0145% / 1h	46m 00s	$625K	$1.4M	10x
Short	Phemex NEARUSDT	4.3450	0.0100	get 0.0100% / 8h	3h 46m	$3.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against RISEx. 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 RISExbpFee PhemexbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$223.07
Price spread: +0.108% → −0.037%: $14.5
Slippage, 4 orders: −$49.2
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$275.77
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; Phemex: live order book, 3 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 RISEx live order book, 3 min ago	1.31 bp	4.3 bp −$4	11.1 bp −$111	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	5.73 bp	23.6 bp −$24	52.8 bp −$528	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	4.3399	−0.010%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3389	−0.033%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3419	+0.036%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.592%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3468	+0.149%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3370	−0.076%	$107K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3418	+0.035%	$267.0M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3363	−0.093%	$217.9M	$424.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3360	−0.099%	$61.8M	$291.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+0.848%	$249K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3373	−0.069%	$31.7M	$60.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3410	+0.016%	$73.9M	$143.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3460	+0.131%	$54.1M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3361	−0.097%	$71.2M	$128.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3360	−0.099%	—	$146.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	−0.013%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3559	+0.359%	$255K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3580	+0.407%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3580	+0.407%	$168K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3440	+0.085%	$255K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3462	+0.136%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3490	+0.200%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3450	+0.108%	$454K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3450	+0.108%	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3360	−0.100%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3470	+0.154%	$202K	$40K	3x	as long as short
Kalshi KXNEARPERP	+0.0131%	8h	4.3437	+0.078%	$610K	$22.9M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.016%	$13.7M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3424	+0.047%	$412K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0312%	8h	4.3420	+0.039%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0191%	1h	4.3416	+0.031%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0418%	1h	4.3435	+0.073%	$8K	$52K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0497%	1h	4.3402	−0.003%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.3427	+0.055%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0593%	1h	4.3402	−0.003%	$357.1M	$318.8M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3420	+0.039%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0656%	1h	4.3418	+0.034%	$3.8M	$19.7M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0710%	1h	4.3394	−0.021%	$7.7M	$39.7M	50x	as long as short
Nado NEAR-PERP	+0.0730%	1h	4.3403	−0.001%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0936%	1h	4.3457	+0.124%	$1.5M	$7.3M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3717	+0.723%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1160%	1h	4.3469	+0.151%	$17.5M	$24.9M	15x	as long as short
RISEx NEAR/USDClong	+0.1162%	1h	4.3403	long leg	$625K	$1.4M	10x
Aftermath Perps NEARUSD	+0.1619%	1h	4.3533	+0.300%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.2215%	1h	4.3523	+0.276%	$1.9M	$8.4M	25x	as long as short