Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Phemex+0.029%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1811.810% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.029%, 7d avg +0.001%

Together, before fees+0.013%+$1 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: Aevo is 0.028% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4130	0.0100	pay 0.0100% / 8h	4h 37m	$3.8M	$8.5M	50x
Short	Aevo NEAR-PERP	4.4143	0.0104	get 0.0013% / 1h	37m 36s	$205K	$40K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now +0.029%Rate

Funding earned: $0.84
Price spread: +0.029% → +0.001%: $2.81
Slippage, 4 orders: −$153
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$177.35
Costs to cover: 1.810%
Break-even: 1484.9 days

Slippage from Phemex: live order book, 6 min ago; Aevo: live order book, 21 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 Phemex live order book, 6 min ago	7.83 bp	22.9 bp −$23	53.5 bp −$535	doesn't fit	doesn't fit
Sell Aevo live order book, 21 min ago	58.10 bp	70.9 bp −$71	doesn't fit	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	4.4161	+0.071%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4177	+0.107%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3989	−0.319%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4209	+0.179%	$607K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	+0.044%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.164%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3990	−0.317%	$116K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4014	−0.262%	$421K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4007	−0.279%	$269.1M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3976	−0.349%	$221.0M	$424.6M	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-SWAP	+0.0100%	8h	4.3980	−0.340%	$62.6M	$298.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.952%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3988	−0.322%	$31.9M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4000	−0.295%	$73.8M	$148.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4000	−0.295%	$54.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3972	−0.358%	$72.2M	$130.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3990	−0.317%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+0.990%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	+0.999%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+1.077%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4600	+1.065%	$171K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4221	+0.206%	$238K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4122	−0.018%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4290	+0.363%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4094	−0.082%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.068%	$460K	$4.0M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4130	long leg	$3.8M	$8.5M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4001	−0.292%	$32K	$608	10x	as long as short
Aevo NEAR-PERPshort	+0.0104%	1h	4.4143	+0.029%	$205K	$40K	3x
Hyperliquid NEAR	+0.0154%	1h	4.4053	−0.174%	$363.5M	$324.6M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.3959	−0.387%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0204%	1h	4.4083	−0.107%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4190	+0.136%	$13.9M	$32.9M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4014	−0.263%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.4022	−0.244%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4132	+0.004%	$240K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0339%	1h	4.4133	+0.007%	$1.9M	$6.8M	25x	as long as short
Lighter RH NEAR	+0.0456%	1h	4.4088	−0.095%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0553%	1h	4.4185	+0.125%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4060	−0.159%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4103	−0.061%	$8.2M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4453	+0.732%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0848%	1h	4.4072	−0.131%	$17.8M	$26.3M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4033	−0.220%	$559K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1549%	1h	4.4442	+0.708%	$6K	$12K	10x	as long as short