Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0812%/8h= −88.9% APRpaid last 24h −0.105%

Price spread now: HTX against Lighter+0.207%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.207%, 7d avg +0.065%

Together, before fees−0.253%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.141% dearer against Lighter than usual: you sell high and buy low (spread +0.207% now, against its 7-day average of +0.065%): +$14 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.221% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.221% in total (about -11.5% 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	Lighter NEAR	4.3849	0.0912	pay 0.0114% / 1h	9m 09s	$17.2M	$25.2M	15x
Short	HTX NEAR-USDT	4.3940	0.0100	get 0.0100% / 8h	2h 09m	$473K	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now +0.207%Rate

Funding earned: −$170.52
Price spread: +0.207% → +0.065%: $14.14
Slippage, 4 orders: −$33.18
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$201.56
Costs to cover: 0.452%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; HTX: live order book, 5 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 Lighter live order book, 5 min ago	3.36 bp	5.0 bp −$5	9.7 bp −$97	60.4 bp −$6,038	doesn't fit
Sell HTX live order book, 5 min ago	8.01 bp	19.4 bp −$19	38.1 bp −$381	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	4.3804	−0.104%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3820	−0.067%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3778	−0.164%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.563%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3810	−0.090%	$116K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3756	−0.213%	$219.0M	$420.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3750	−0.226%	$62.0M	$291.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−0.797%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3752	−0.222%	$33.2M	$60.9M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3810	−0.090%	$52.9M	$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	4.3740	−0.249%	$71.8M	$126.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3607	−0.552%	$8.8M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3652	−0.450%	$255K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3834	−0.035%	$283K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3821	−0.065%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3880	+0.070%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDTshort	+0.0100%	8h	4.3940	+0.207%	$473K	$3.9M	75x
Phemex NEARUSDT	+0.0100%	8h	4.3770	−0.181%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3811	−0.088%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0102%	8h	4.3673	−0.401%	$1.4M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3835	−0.033%	$204K	$37K	3x	as long as short
BingX NEAR-USDT	+0.0119%	8h	4.3770	−0.181%	—	$143.5M	—	as long as short
MEXC NEAR_USDT	+0.0125%	8h	4.3790	−0.135%	$83.7M	$146.2M	200x	as long as short
Binance NEARUSDT	+0.0130%	8h	4.3810	−0.090%	$266.6M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0250%	8h	4.3850	+0.002%	$13.3M	$32.3M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3876	+0.061%	$2.3M	$16.2M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0201%	1h	4.3772	−0.177%	$234K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0320%	8h	4.3834	−0.035%	$1.0M	$24.6M	2.2x	as long as short
Aster NEARUSDT	+0.0339%	8h	4.3790	−0.135%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0398%	1h	4.3825	−0.055%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0417%	1h	4.3640	−0.477%	$167K	$796K	50x	as long as short
Extended NEAR-USD	+0.0480%	1h	4.3778	−0.164%	$3.7M	$19.3M	25x	as long as short
SoDEX NEAR-USD	+0.0518%	1h	4.3787	−0.142%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0663%	1h	4.3799	−0.115%	$359.7M	$309.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0690%	1h	4.3785	−0.147%	$1.3M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0720%	1h	4.3856	+0.015%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0723%	1h	4.3762	−0.200%	$7.3M	$39.0M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3850	+0.002%	$227K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3865	+0.035%	$402K	$1.4M	10x	as long as short
Lighter NEARlong	+0.0912%	1h	4.3849	long leg	$17.2M	$25.2M	15x
Phoenix NEAR	+0.1033%	1h	4.3931	+0.186%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.3847	−0.005%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3844	−0.013%	$687K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1289%	1h	4.3581	−0.611%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1326%	1h	4.3843	−0.014%	$1.9M	$11.9M	25x	as long as short