Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0980%/8h= +107.3% APRpaid last 24h +0.232%

Price spread now: Lighter against Orderly+0.211%7-day average +0.170% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.830%+$83 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now +0.211%, 7d avg +0.170%

Together, before fees+0.675%+ Points / potential airdropLighter: Season 3 · farm board+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Lighter is 0.040% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.170%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3339	0.0100	pay 0.0100% / 8h	3h 13m	$57K	$246K	20x
Short	Lighter NEAR	4.3430	0.1080	get 0.0135% / 1h	13m 47s	$17.5M	$25.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now +0.211%Rate

Funding earned: $205.8
Price spread: +0.211% → +0.170%: $4.02
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $203.82
Costs to cover: 0.060%
Break-even: 0.1 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	1.66 bp	6.4 bp −$6	16.4 bp −$164	65.5 bp −$6,545	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3308	−0.071%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	−0.064%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3297	−0.096%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.451%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3493	+0.355%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3320	−0.044%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3420	+0.187%	$265.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3378	+0.090%	$214.7M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3380	+0.095%	$61.4M	$288.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.205%	$246K	−$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	4.3363	+0.055%	$32.1M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3400	+0.141%	$73.7M	$146.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3390	+0.118%	$53.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3389	+0.115%	$71.6M	$127.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3390	+0.118%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	+0.250%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.435%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.442%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.371%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3343	+0.009%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3339	long leg	$57K	$246K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3410	+0.164%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3400	+0.141%	$468K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3340	+0.002%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	−0.089%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	+0.025%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.164%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	+0.005%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3322	−0.039%	$870K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3289	−0.115%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3400	+0.141%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0355%	1h	4.3315	−0.055%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3345	+0.014%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.3322	−0.040%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0575%	1h	4.3430	+0.210%	$355.6M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0590%	1h	4.3380	+0.095%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0592%	1h	4.3361	+0.052%	$3.8M	$19.9M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3360	+0.048%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3330	−0.020%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0812%	1h	4.3343	+0.009%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3387	+0.111%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.607%	$1.8M	$2.8M	10x	as long as short
Lighter NEARshort	+0.1080%	1h	4.3430	+0.211%	$17.5M	$25.1M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3351	+0.027%	$681K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1581%	1h	4.3409	+0.162%	$5K	$13K	10x	as long as short