Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0684%/8h= −74.9% APRpaid last 24h −0.021%

Price spread now: BloFin against Lighter RH+0.058%91s7-day average −0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as 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−$300.297% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$24 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now +0.058%, 7d avg −0.144%

Together, before fees−0.484%+ Points / potential airdropLighter RH: Points live · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.202% dearer against Lighter RH than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.144%): +$20 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.235% in total) that is about 6.0 days. The two prices were read 91 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 -0.235% in total (about -12.3% 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 RH NEAR	4.2965	0.0904	pay 0.0113% / 1h	3m 45s	$1.5M	$7.4M	10x
Short	BloFin NEAR-USDT	4.2990	0.0220	get 0.0220% / 8h	3h 03m	$13.4M	$31.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter RH. 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 Lighter RHbpFee BloFinbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$143.64
Price spread: +0.058% → −0.144%: $20.24
Slippage, 4 orders: −$17.72
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$153.12
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; BloFin: 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 RH live order book, 5 min ago	3.24 bp	5.5 bp −$6	11.7 bp −$117	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	2.31 bp	12.4 bp −$12	19.4 bp −$194	40.7 bp −$4,074	80.8 bp −$40.4K

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	4.2909	−0.130%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2873	−0.215%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2893	−0.167%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.619%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2940	−0.058%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2910	−0.128%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2950	−0.035%	$261.9M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2906	−0.137%	$212.5M	$426.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2930	−0.081%	$60.7M	$285.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+1.127%	$248K	−$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	4.2905	−0.140%	$31.9M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2940	−0.058%	$73.1M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	−0.128%	$53.3M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2918	−0.109%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2960	−0.012%	—	$144.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	+0.052%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	+0.416%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3190	+0.524%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.524%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2947	−0.042%	$268K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2903	−0.144%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3000	+0.081%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2990	+0.058%	$460K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2950	−0.035%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2905	−0.141%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2915	−0.116%	$200K	$37K	3x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.2990	+0.058%	$13.4M	$31.7M	75x
Kalshi KXNEARPERP	+0.0250%	8h	4.2956	−0.021%	$776K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2925	−0.092%	$396K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2885	−0.187%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0324%	1h	4.2875	−0.209%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2920	−0.105%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2956	−0.021%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2922	−0.101%	$3.7M	$19.8M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0563%	1h	4.2966	+0.002%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0565%	1h	4.2942	−0.054%	$351.5M	$313.0M	10x	as long as short
Nado NEAR-PERP	+0.0568%	1h	4.2905	−0.140%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.058%	$211K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0706%	1h	4.2910	−0.128%	$1.9M	$9.9M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0719%	1h	4.2883	−0.191%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEARlong	+0.0904%	1h	4.2965	long leg	$1.5M	$7.4M	10x
Phoenix NEAR	+0.0941%	1h	4.3300	+0.780%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1032%	1h	4.2972	+0.015%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2990	+0.059%	$672K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1540%	1h	4.3126	+0.375%	$5K	$12K	10x	as long as short