Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1028%/8h= −112.6% APRpaid last 24h −0.232%

Price spread now: MEXC against Lighter−0.026%7-day average −0.163% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.820%−$82 on $10k

Price spread, last 7 days−0.128%−$13 · spread now −0.026%, 7d avg −0.163%

Together, before fees−0.949%+ Points / potential airdropLighter: Season 3 · farm board−$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.137% dearer against Lighter than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.163%): +$14 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.820% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.3361	0.1128	pay 0.0141% / 1h	40m 12s	$17.5M	$24.9M	15x
Short	MEXC NEAR_USDT	4.3350	0.0100	get 0.0100% / 8h	3h 40m	$73.1M	$144.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$215.88
Price spread: −0.026% → −0.163%: $13.68
Slippage, 4 orders: −$13.93
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$216.13
Costs to cover: 0.139%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; MEXC: live order book, 4 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, 9 min ago	1.95 bp	5.9 bp −$6	17.2 bp −$172	72.0 bp −$7,196	doesn't fit
Sell MEXC live order book, 4 min ago	2.31 bp	2.3 bp −$2	4.9 bp −$49	63.7 bp −$6,368	98.1 bp −$49.1K

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	4.3235	−0.292%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3248	−0.261%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3238	−0.284%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.500%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3263	−0.227%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3220	−0.326%	$108K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3339	−0.051%	$265.9M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3292	−0.160%	$215.4M	$428.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	−0.095%	$61.4M	$292.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	+0.089%	$247K	−$0	10x	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	+0.0100%	8h	4.3323	−0.089%	$31.9M	$61.0M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.3350	−0.026%	$73.1M	$144.7M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.3320	−0.095%	$53.8M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3321	−0.093%	$71.3M	$128.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3340	−0.049%	—	$146.3M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3167	−0.447%	$8.3M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3357	−0.010%	$254K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3214	−0.339%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	+0.089%	$167K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3263	−0.227%	$271K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3287	−0.172%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3330	−0.072%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3390	+0.066%	$470K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3300	−0.142%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3239	−0.283%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3299	−0.144%	$201K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0202%	8h	4.3267	−0.218%	$728K	$23.4M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3280	−0.188%	$13.7M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3304	−0.133%	$411K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3307	−0.125%	$2.8M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0194%	1h	4.3240	−0.279%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0397%	1h	4.3286	−0.174%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0509%	1h	4.3350	−0.026%	$1.3M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3302	−0.137%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3290	−0.165%	$212K	$1.6M	10x	as long as short
Hyperliquid NEAR	+0.0628%	1h	4.3350	−0.026%	$355.6M	$321.2M	10x	as long as short
Nado NEAR-PERP	+0.0639%	1h	4.3240	−0.279%	$1.8M	$3.1M	10x	as long as short
Extended NEAR-USD	+0.0688%	1h	4.3246	−0.266%	$3.8M	$19.8M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0712%	1h	4.3293	−0.157%	$7.6M	$39.3M	50x	as long as short
Lighter RH NEAR	+0.0872%	1h	4.3358	−0.008%	$1.5M	$7.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0929%	1h	4.3296	−0.151%	$1.9M	$8.9M	25x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3302	−0.137%	$1.8M	$2.8M	10x	as long as short
Lighter NEARlong	+0.1128%	1h	4.3361	long leg	$17.5M	$24.9M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3260	−0.235%	$656K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1568%	1h	4.3304	−0.132%	$5K	$13K	10x	as long as short