Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h +0.008%

Price spread now: BingX against Coinbase International+0.036%53s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as 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−$390.393% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.429%−$43 · spread now +0.036%, 7d avg 0.000%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.035% dearer against Coinbase International than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of 0.000%): +$4 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.119%, so the current rate has only just turned against you. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.5044	0.0504	pay 0.0063% / 1h	4m 23s	$2.4M	$17.6M	50x
Short	BingX NEAR-USDT	4.5060	0.0100	get 0.0100% / 8h	5h 04m	—	$74.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$84.84
Price spread: +0.036% → 0.000%: $3.52
Slippage, 4 orders: −$19.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$120.62
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; BingX: live order book, 13 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 Coinbase International live order book, 3 min ago	4.45 bp	13.9 bp −$14	26.1 bp −$261	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	1.12 bp	7.1 bp −$7	9.5 bp −$95	16.6 bp −$1,657	44.2 bp −$22.1K

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0235%	1h	4.4979	−0.144%	$7.3M	$37.0M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4843	−0.446%	$2K	—	20x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4928	−0.258%	$931K	$26.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.5035	−0.019%	$169K	—	150x	as long as short
dYdX NEAR-USD	+0.0022%	1h	4.4867	−0.393%	$110K	$53K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.068%	$578	$301K	12x	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.5077	+0.073%	$13K	$4K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.5045	+0.002%	$17.1M	$25.2M	15x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5060	+0.036%	$124K	$505K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.5062	+0.040%	$2.7M	$4.8M	50x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.5079	+0.079%	$271.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5055	+0.024%	$231.4M	$430.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5050	+0.013%	$64.3M	$302.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4850	−0.431%	$276K	$24K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5042	−0.004%	$41.1M	$63.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5070	+0.058%	$72.5M	$171.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5080	+0.080%	$54.2M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5041	−0.007%	$75.0M	$127.6M	75x	as long as short
BingX NEAR-USDTshort	+0.0100%	8h	4.5060	+0.036%	—	$74.7M	—
Variational Omni NEAR	+0.0100%	8h	4.4853	−0.424%	$8.8M	$16.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4891	−0.340%	$266K	$863K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4890	−0.342%	$1.5M	$1.8M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4850	−0.431%	$168K	$808K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5068	+0.053%	$192K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5061	+0.038%	$56K	$273K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4980	−0.142%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4985	−0.131%	$5K	$34K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5010	−0.075%	$471K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4990	−0.120%	$3.4M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.5024	−0.045%	$33K	$389	10x	as long as short
Hyperliquid NEAR	+0.0102%	1h	4.5092	+0.107%	$362.3M	$312.1M	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5055	+0.025%	$3.7M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5045	+0.002%	$209K	$38K	3x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0191% / S −0.0033%	1h	4.4849	−0.434%	$241K	—	100x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5030	−0.031%	$12.7M	$32.7M	75x	as long as short
Lighter RH NEAR	+0.0232%	1h	4.5056	+0.027%	$1.6M	$6.0M	10x	as long as short
Nado NEAR-PERP	+0.0266%	1h	4.5070	+0.058%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0343%	1h	4.5100	+0.124%	$228K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.0489%	1h	4.5066	+0.048%	$651K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTXlong	+0.0504%	1h	4.5044	long leg	$2.4M	$17.6M	50x
Backpack NEAR_USDC_PERP	+0.0553%	1h	4.5034	−0.022%	$1.1M	$7.1M	20x	as long as short
Phoenix NEAR	+0.0741%	1h	4.4988	−0.124%	$1.7M	$2.7M	10x	as long as short
Pacifica NEAR	+0.0851%	1h	4.5016	−0.063%	$425K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.0896%	1h	4.4885	−0.354%	$6K	$6K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1085%	1h	4.5006	−0.084%	$1.9M	$13.0M	25x	as long as short