Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against OKX+0.438%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$720.724% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.439%+$44 · spread now +0.438%, 7d avg +0.049%

Together, before fees+0.385%+$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.388% dearer against OKX than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3400	0.0100	pay 0.0100% / 8h	5h 46m	$62.2M	$286.9M	50x
Short	Phemex NEARUSDT	4.3590	0.0100	get 0.0100% / 8h	5h 46m	$3.8M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.438%Rate

Funding earned: $0
Price spread: +0.438% → +0.049%: $38.84
Slippage, 4 orders: −$50.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33.55
Costs to cover: 0.724%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 2 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 OKX live order book, 2 min ago	1.15 bp	9.2 bp −$9	17.0 bp −$170	41.5 bp −$4,151	doesn't fit
Sell Phemex live order book, 2 min ago	8.01 bp	34.2 bp −$34	64.3 bp −$643	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	4.3647	+0.568%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3661	+0.601%	$2.2M	$14.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3692	+0.672%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3642	+0.558%	$567K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3620	+0.506%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.585%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3720	+0.737%	$115K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3718	+0.733%	$413K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3508	+0.249%	$264.5M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3420	+0.046%	$219.4M	$417.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3400	long leg	$62.2M	$286.9M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3657	+0.592%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3490	+0.207%	$31.3M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3510	+0.253%	$75.0M	$140.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3600	+0.461%	$54.7M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3554	+0.355%	$71.5M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3450	+0.115%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+1.213%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3629	+0.527%	$262K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+1.175%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3701	+0.694%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3599	+0.459%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3690	+0.668%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3585	+0.426%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3690	+0.668%	$457K	$3.8M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3590	+0.438%	$3.8M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3686	+0.658%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3540	+0.322%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3623	+0.514%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0195%	8h	4.3616	+0.497%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3510	+0.253%	—	$30.3M	75x	as long as short
ApeX Omni NEARUSDT	+0.0231%	1h	4.3580	+0.415%	$194K	$778K	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0277%	1h	4.3632	+0.535%	$1.9M	$4.3M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3608	+0.479%	$256K	—	100x	as long as short
Nado NEAR-PERP	+0.0391%	1h	4.3680	+0.645%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.3751	+0.809%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3760	+0.829%	$208K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0666%	1h	4.3649	+0.574%	$1.5M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0706%	1h	4.3611	+0.486%	$8.1M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0744%	1h	4.3658	+0.594%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0761%	1h	4.3644	+0.562%	$367.5M	$304.8M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3669	+0.620%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3753	+0.813%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.1264%	1h	4.3687	+0.662%	$17.5M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1744%	1h	4.3724	+0.746%	$6K	$12K	10x	as long as short