Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0791%/8h= +86.6% APRpaid last 24h +0.160%

Price spread now: Phoenix against Binance+0.976%75s7-day average +0.198% · you sell dearer than you buy

Net, funding: paid 7d − costs+$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.394% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.775%+$77 on $10k

Price spread, last 7 days−0.799%−$80 · spread now +0.976%, 7d avg +0.198%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Phoenix is 0.778% dearer against Binance than usual: you sell high and buy low: +$78 more if the spread goes back to its 7-day average of +0.198%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NEARUSDT	4.3890	0.0213	pay 0.0213% / 8h	1h 16m	$267.2M	$1.08B	75x
Short	Phoenix NEAR	4.4318	0.1003	get 0.0125% / 1h	16m 14s	$1.8M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.976%Rate

Funding earned: $166.05
Price spread: +0.976% → +0.198%: $77.82
Slippage, 4 orders: −$22.45
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $204.42
Costs to cover: 0.394%
Break-even: from the start

Slippage from Binance: live order book, 13 min ago; Phoenix: 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 Binance live order book, 13 min ago	1.14 bp	7.3 bp −$7	11.3 bp −$113	32.2 bp −$3,219	107.2 bp −$53.6K
Sell Phoenix live order book, 2 min ago	0.90 bp	11.9 bp −$12	28.3 bp −$283	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	4.3984	+0.216%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3877	−0.030%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3949	+0.135%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.650%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3880	−0.022%	$111K	$484K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3872	−0.040%	$222.5M	$430.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3860	−0.067%	$61.9M	$293.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4150	+0.593%	$252K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3844	−0.104%	$35.6M	$62.1M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3900	+0.024%	$53.1M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.3866	−0.054%	$72.5M	$127.3M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4097	+0.473%	$8.8M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4272	+0.871%	$259K	$917K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4140	+0.570%	$166K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3883	−0.015%	$292K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3892	+0.005%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3960	+0.160%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3950	+0.138%	$460K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3910	+0.046%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.3920	+0.069%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0109%	8h	4.4271	+0.869%	$1.5M	$1.5M	10x	as long as short
Extended NEAR-USD	+0.0112%	1h	4.3857	−0.075%	$3.7M	$18.2M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3905	+0.035%	$204K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0144%	1h	4.3867	−0.052%	$5K	$53K	10x	as long as short
BingX NEAR-USDC	+0.0200%	8h	4.3870	−0.045%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0212%	8h	4.3900	+0.024%	$78.2M	$149.7M	200x	as long as short
Binance NEARUSDTlong	+0.0213%	8h	4.3890	long leg	$267.2M	$1.08B	75x
Kalshi KXNEARPERP	+0.0240%	8h	4.3872	−0.040%	$1.0M	$24.9M	2.2x	as long as short
Aster NEARUSDT	+0.0291%	8h	4.3870	−0.045%	$2.8M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0199%	1h	4.3846	−0.100%	$234K	—	100x	as long as short
BloFin NEAR-USDT	+0.0333%	8h	4.3940	+0.115%	$13.5M	$32.5M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0420%	1h	4.3959	+0.158%	$1.3M	$6.9M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3889	−0.001%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.3994	+0.238%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0509%	1h	4.3913	+0.053%	$358.3M	$313.3M	10x	as long as short
Nado NEAR-PERP	+0.0548%	1h	4.3881	−0.020%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0665%	1h	4.3852	−0.086%	$7.2M	$38.2M	50x	as long as short
Lighter NEAR	+0.0800%	1h	4.3926	+0.084%	$17.3M	$25.3M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0822%	1h	4.3903	+0.030%	$1.9M	$13.0M	25x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.3920	+0.069%	$226K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0888%	1h	4.3925	+0.081%	$1.5M	$6.7M	10x	as long as short
Phoenix NEARshort	+0.1003%	1h	4.4318	+0.976%	$1.8M	$2.5M	10x
Pacifica NEAR	+0.1187%	1h	4.3932	+0.098%	$419K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.3910	+0.047%	$663K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1305%	1h	4.4116	+0.515%	$5K	$12K	10x	as long as short