Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h +0.033%

Price spread now: edgeX against Coinbase International+0.140%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.140%, 7d avg +0.023%

Together, before fees+0.074%+ Points / potential airdropedgeX: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.117% dearer against Coinbase International than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.023%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 7 days funding on this pair paid +0.224%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.224% in total (about 11.7% 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	Coinbase International NEAR-PERP-INTX	4.4441	0.0424	pay 0.0053% / 1h	51m 33s	$2.3M	$16.3M	50x
Short	edgeX NEARUSDC	4.4503	0.0100	get 0.0050% / 4h	1h 51m	$260K	$964K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$68.04
Price spread: +0.140% → +0.023%: $11.73
Slippage, 4 orders: −$31.94
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$107.25
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; edgeX: live order book, 47 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	3.60 bp	13.2 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit
Sell edgeX live order book, 47 min ago	6.99 bp	11.9 bp −$12	26.2 bp −$262	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	4.4486	+0.101%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4467	+0.059%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4379	−0.139%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.820%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4480	+0.088%	$114K	$495K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4480	+0.088%	$227.2M	$424.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4470	+0.065%	$62.6M	$296.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.168%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4477	+0.081%	$34.5M	$59.8M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4520	+0.178%	$53.7M	$45.8M	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	4.4461	+0.045%	$73.7M	$126.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4407	−0.076%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.4503	+0.140%	$260K	$964K	20x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4491	+0.113%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4401	−0.090%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4420	−0.047%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4480	+0.088%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4360	−0.182%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4489	+0.108%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4474	+0.075%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4395	−0.104%	$206K	$40K	3x	as long as short
ApeX Omni NEARUSDT	+0.0132%	1h	4.4470	+0.065%	$168K	$803K	50x	as long as short
BingX NEAR-USDT	+0.0162%	8h	4.4500	+0.133%	—	$143.7M	—	as long as short
MEXC NEAR_USDT	+0.0167%	8h	4.4500	+0.133%	$85.2M	$144.1M	200x	as long as short
Binance NEARUSDT	+0.0170%	8h	4.4508	+0.151%	$269.6M	$1.08B	75x	as long as short
SoDEX NEAR-USD	+0.0237%	1h	4.4355	−0.194%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0285%	8h	4.4500	+0.133%	$13.5M	$32.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0305%	8h	4.4414	−0.061%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4381	−0.135%	$238K	—	100x	as long as short
Aster NEARUSDT	+0.0341%	8h	4.4480	+0.088%	$2.8M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4483	+0.094%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTXlong	+0.0424%	1h	4.4441	long leg	$2.3M	$16.3M	50x
01 Exchange NEARUSD	+0.0504%	1h	4.4529	+0.198%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0569%	1h	4.4384	−0.128%	$1.3M	$6.5M	20x	as long as short
Nado NEAR-PERP	+0.0575%	1h	4.4380	−0.137%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0658%	1h	4.4348	−0.210%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0680%	1h	4.4474	+0.074%	$365.9M	$306.6M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4520	+0.178%	$226K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0900%	1h	4.4412	−0.065%	$1.9M	$12.2M	25x	as long as short
Lighter NEAR	+0.0936%	1h	4.4544	+0.232%	$17.4M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	+0.108%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1032%	1h	4.4557	+0.261%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4495	+0.122%	$409K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1193%	1h	4.4376	−0.145%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4503	+0.139%	$680K	$1.4M	10x	as long as short