Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Phemex against Aevo−0.016%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1851.848% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.016%, 7d avg −0.001%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo NEAR-PERP	4.4037	0.0104	pay 0.0013% / 1h	37m 16s	$205K	$40K	3x
Short	Phemex NEARUSDT	4.4030	0.0100	get 0.0100% / 8h	4h 37m	$3.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$0.84
Price spread: −0.016% → −0.001%: −$1.49
Slippage, 4 orders: −$156.77
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$187.1
Costs to cover: 1.848%
Break-even: never at this rate

Slippage from Aevo: live order book, 22 min ago; Phemex: live order book, 2 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 Aevo live order book, 22 min ago	58.10 bp	66.1 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	6.78 bp	29.2 bp −$29	57.3 bp −$573	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	4.3949	−0.200%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3977	−0.136%	$2.2M	$15.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3989	−0.109%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3968	−0.156%	$609K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3989	−0.109%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.965%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3990	−0.107%	$116K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4014	−0.052%	$421K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4020	−0.038%	$269.2M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3955	−0.186%	$221.0M	$424.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3990	−0.107%	$62.4M	$298.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+1.165%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3986	−0.116%	$31.9M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4020	−0.038%	$73.6M	$148.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3960	−0.175%	$54.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4006	−0.070%	$72.4M	$130.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4000	−0.084%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+1.203%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4195	+0.359%	$265K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+1.290%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4150	+0.257%	$170K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3984	−0.120%	$235K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4024	−0.029%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4120	+0.189%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4015	−0.050%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4090	+0.121%	$457K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4030	−0.016%	$3.8M	$8.5M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4001	−0.081%	$32K	$608	10x	as long as short
Aevo NEAR-PERPlong	+0.0104%	1h	4.4037	long leg	$205K	$40K	3x
Hyperliquid NEAR	+0.0153%	1h	4.3994	−0.097%	$362.9M	$324.7M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.3993	−0.100%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0204%	1h	4.4083	+0.105%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4000	−0.084%	$13.8M	$32.7M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4014	−0.052%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.3992	−0.102%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0329% / S −0.0206%	1h	4.3994	−0.098%	$239K	—	100x	as long as short
Lighter RH NEAR	+0.0456%	1h	4.4070	+0.075%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0572%	1h	4.3948	−0.201%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4060	+0.052%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0590%	1h	4.4040	+0.006%	$8.1M	$39.9M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0591%	1h	4.4038	+0.002%	$1.9M	$6.8M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4338	+0.684%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0880%	1h	4.4099	+0.141%	$17.8M	$26.3M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4033	−0.009%	$559K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1564%	1h	4.4369	+0.755%	$6K	$12K	10x	as long as short