Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.042%

Price spread now: Coinbase International against Phemex+0.353%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)−0.454%−$45 · spread now +0.353%, 7d avg −0.031%

Together, before fees−0.619%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.384% dearer against Phemex than usual: you sell high and buy low (spread +0.353% now, against its 7-day average of −0.031%): +$38 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3340	0.0100	pay 0.0100% / 8h	3h 14m	$3.7M	$8.3M	50x
Short	Coinbase International NEAR-PERP-INTX	4.3493	0.0056	get 0.0007% / 1h	14m 06s	$2.3M	$15.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.353%Rate

Funding earned: −$9.24
Price spread: +0.353% → −0.031%: $38.4
Slippage, 4 orders: −$44.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$36.94
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Coinbase International: 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 Phemex live order book, 5 min ago	4.60 bp	17.4 bp −$17	43.7 bp −$437	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.61 bp	13.3 bp −$13	18.9 bp −$189	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	4.3308	−0.073%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	−0.067%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3297	−0.099%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.453%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTXshort	+0.0056%	1h	4.3493	+0.353%	$2.3M	$15.9M	50x
Popdex NEARUSDT	+0.0096%	1h	4.3320	−0.046%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3386	+0.106%	$265.2M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3332	−0.018%	$214.4M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3360	+0.046%	$61.4M	$288.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.207%	$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	4.3335	−0.012%	$32.1M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	+0.046%	$73.7M	$146.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3390	+0.115%	$53.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3367	+0.062%	$71.5M	$127.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3360	+0.046%	—	$144.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	+0.248%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.433%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.439%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.369%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3343	+0.007%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3339	−0.002%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3410	+0.162%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3400	+0.138%	$468K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3340	long leg	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	−0.091%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	+0.023%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.162%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	+0.003%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3322	−0.042%	$870K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3289	−0.117%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3379	+0.090%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0355%	1h	4.3315	−0.058%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3345	+0.012%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.3322	−0.042%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0575%	1h	4.3405	+0.150%	$355.4M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0590%	1h	4.3380	+0.092%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0592%	1h	4.3361	+0.049%	$3.8M	$19.9M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3360	+0.046%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3330	−0.022%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0812%	1h	4.3343	+0.007%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3387	+0.108%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.605%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1080%	1h	4.3430	+0.208%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3351	+0.025%	$681K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1581%	1h	4.3409	+0.160%	$5K	$13K	10x	as long as short