Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1708%/8h= +187.0% APRpaid last 24h +0.170%

Price spread now: Lighter against BloFin+0.296%7-day average +0.170% · you sell dearer than you buy

Net, funding: paid 7d − costs+$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.519%+$52 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.296%, 7d avg +0.170%

Together, before fees+0.400%+ Points / potential airdropLighter: Season 3 · farm board+$40 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 0.127% dearer against BloFin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.170%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.519% in total (about 27.1% 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	BloFin NEAR-USDT	4.3130	0.0220	pay 0.0220% / 8h	7h 22m	$12.9M	$28.2M	75x
Short	Lighter NEAR	4.3258	0.1928	get 0.0241% / 1h	22m 59s	$17.3M	$24.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.296%Rate

Funding earned: $358.68
Price spread: +0.296% → +0.170%: $12.65
Slippage, 4 orders: −$21.96
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $337.37
Costs to cover: 0.340%
Break-even: 0.4 days

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 6 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 BloFin live order book, 6 min ago	7.02 bp	13.0 bp −$13	17.2 bp −$172	48.0 bp −$4,797	122.0 bp −$61.0K
Sell Lighter live order book, 6 min ago	1.97 bp	2.7 bp −$3	13.1 bp −$131	80.0 bp −$8,002	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	4.2996	−0.310%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3164	+0.078%	$7.3M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3150	+0.046%	$2.3M	$13.1M	50x	as long as short
01 Exchange NEARUSD	−0.0008%	1h	4.3020	−0.255%	$13K	$7K	10x	as long as short
Variational Omni NEAR	−0.0004%	8h	4.2668	−1.071%	$7.9M	$18.8M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2903	−0.526%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2948	−0.422%	$360K	$19.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3151	+0.049%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.988%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0073%	8h	4.3150	+0.046%	$219.0M	$417.3M	75x	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	+0.0095%	8h	4.3151	+0.049%	$31.0M	$60.0M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3040	−0.209%	$115K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3183	+0.123%	$57K	$191K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2900	−0.532%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3180	+0.116%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2902	−0.529%	$396K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3180	+0.116%	$257.4M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3150	+0.046%	$61.0M	$281.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3070	−0.139%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2789	−0.790%	$244K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3170	+0.093%	$77.5M	$140.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3190	+0.139%	$56.4M	$42.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3175	+0.104%	$71.5M	$124.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3160	+0.070%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3008	−0.282%	$256K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3032	−0.227%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2800	−0.765%	$179K	$782K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3027	−0.239%	$192K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3230	+0.232%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3165	+0.081%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3240	+0.255%	$457K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3140	+0.023%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3149	+0.045%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3164	+0.078%	$201K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0178%	1h	4.3228	+0.227%	$363.4M	$301.4M	10x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.3130	long leg	$12.9M	$28.2M	75x
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0307%	1h	4.3151	+0.048%	$275K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.3206	+0.176%	$1.6M	$6.9M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3075	−0.127%	$408K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0449%	1h	4.3214	+0.195%	$1.3M	$5.9M	20x	as long as short
Nado NEAR-PERP	+0.0470%	1h	4.3030	−0.232%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3141	+0.026%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0654%	1h	4.3197	+0.155%	$1.9M	$3.6M	25x	as long as short
Aftermath Perps NEARUSD	+0.1337%	1h	4.2857	−0.634%	$5K	$12K	10x	as long as short
Lighter NEARshort	+0.1928%	1h	4.3258	+0.296%	$17.3M	$24.6M	15x