Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1700%/8h= +186.2% APRpaid last 24h +0.206%

Price spread now: Lighter against SunX+0.374%7-day average +0.031% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.714%+$71 on $10k

Price spread, last 3 days (all we have)−0.381%−$38 · spread now +0.374%, 7d avg +0.031%

Together, before fees+0.334%+ Points / potential airdropLighter: Season 3 · farm board+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and Lighter is 0.343% dearer against SunX than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.714% in total (about 37.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.3210	0.0100	pay 0.0100% / 8h	7h 07m	$1K	$1.4M	20x
Short	Lighter NEAR	4.3372	0.1800	get 0.0225% / 1h	7m 27s	$17.3M	$24.7M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.374%Rate

Funding earned: $357
Price spread: +0.374% → +0.031%: $34.33
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $383.33
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; Lighter: live order book, 6 min ago. 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 SunX live order book, 7 min ago	501.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	3.16 bp	3.8 bp −$4	12.0 bp −$120	87.0 bp −$8,699	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	4.3244	+0.078%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3267	+0.132%	$8.0M	$37.9M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3282	+0.167%	$2.3M	$13.0M	50x	as long as short
Phemex NEARUSDT	−0.0057%	8h	4.3280	+0.162%	$3.9M	$8.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3239	+0.066%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3221	+0.025%	$346K	$18.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3280	+0.163%	$159K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3248	+0.088%	$8.2M	$18.9M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.166%	$578	$302K	12x	as long as short
01 Exchange NEARUSD	+0.0040%	1h	4.3234	+0.056%	$13K	$7K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3240	+0.069%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3237	+0.062%	$57K	$162K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3215	+0.011%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3272	+0.144%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3256	+0.107%	$403K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3260	+0.115%	$258.2M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3230	+0.046%	$218.7M	$413.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3240	+0.069%	$61.1M	$277.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3260	+0.116%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3243	+0.076%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3236	+0.060%	$31.1M	$60.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3250	+0.093%	$75.7M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3260	+0.116%	$56.2M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3244	+0.079%	$72.0M	$122.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3270	+0.139%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3251	+0.095%	$258K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3241	+0.071%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3290	+0.185%	$181K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3270	+0.139%	$198K	$3.4M	10x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.3210	long leg	$1K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.3225	+0.035%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3270	+0.139%	$456K	$3.7M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3214	+0.009%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3217	+0.016%	$201K	$31K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3300	+0.208%	$13.2M	$27.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0307%	1h	4.3219	+0.020%	$275K	—	100x	as long as short
Hyperliquid NEAR	+0.0410%	1h	4.3337	+0.294%	$367.9M	$301.0M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3266	+0.129%	$404K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0429%	1h	4.3240	+0.071%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0444%	1h	4.3243	+0.076%	$1.9M	$3.9M	25x	as long as short
Lighter RH NEAR	+0.0480%	1h	4.3330	+0.278%	$1.6M	$7.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0486%	1h	4.3352	+0.329%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3397	+0.433%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1505%	1h	4.3309	+0.230%	$5K	$12K	10x	as long as short
Lighter NEARshort	+0.1800%	1h	4.3372	+0.374%	$17.3M	$24.7M	15x