Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.060%

Price spread now: Bybit against Lighter RH−0.236%7-day average −0.160% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.484%−$48 on $10k

Price spread, last 7 days+0.153%+$15 · spread now −0.236%, 7d avg −0.160%

Together, before fees−0.331%+ Points / potential airdropLighter RH: Points live · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.076% cheaper against Lighter RH than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.160%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NEAR	4.4117	0.0464	pay 0.0058% / 1h	37m 45s	$1.5M	$7.2M	10x
Short	Bybit NEARUSDT	4.4013	0.0100	get 0.0100% / 8h	4h 37m	$221.1M	$424.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.236%Rate

Funding earned: −$76.44
Price spread: −0.236% → −0.160%: −$7.58
Slippage, 4 orders: −$13.68
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$108.71
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 6 min ago; Bybit: live order book, 1 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, 6 min ago	2.35 bp	3.4 bp −$3	10.0 bp −$100	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.13 bp	9.8 bp −$10	18.4 bp −$184	36.5 bp −$3,651	309.2 bp −$154.6K

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	4.4161	+0.100%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4177	+0.136%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4146	+0.066%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4209	+0.209%	$607K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	+0.073%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.136%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4220	+0.233%	$117K	$515K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4136	+0.044%	$422K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4051	−0.150%	$269.4M	$1.10B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.4013	−0.236%	$221.1M	$424.4M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3990	−0.288%	$62.6M	$298.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.981%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4008	−0.247%	$31.9M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4030	−0.197%	$73.8M	$148.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4050	−0.152%	$54.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3996	−0.274%	$72.3M	$130.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4040	−0.175%	—	$146.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+1.019%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	+1.029%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+1.106%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4600	+1.095%	$171K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4221	+0.236%	$238K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4122	+0.011%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4290	+0.392%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4094	−0.052%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.097%	$460K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4130	+0.029%	$3.8M	$8.5M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4196	+0.179%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4143	+0.058%	$205K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0154%	1h	4.4053	−0.145%	$363.5M	$324.6M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.3974	−0.324%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0204%	1h	4.4083	−0.077%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4190	+0.165%	$13.9M	$32.9M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4246	+0.292%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.4099	−0.040%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4132	+0.034%	$240K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0339%	1h	4.4133	+0.036%	$1.9M	$6.8M	25x	as long as short
Lighter RH NEARlong	+0.0464%	1h	4.4117	long leg	$1.5M	$7.2M	10x
Nado NEAR-PERP	+0.0553%	1h	4.4185	+0.154%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4600	+1.095%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4103	−0.031%	$8.2M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4453	+0.762%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0848%	1h	4.4143	+0.058%	$17.8M	$26.3M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4262	+0.330%	$562K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1549%	1h	4.4442	+0.738%	$6K	$12K	10x	as long as short