Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Phemex−0.111%7-day average −0.044% · 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−$84as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)−0.780%−$78 · spread now −0.111%, 7d avg −0.044%

Together, before fees−0.736%−$74 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: Gate is 0.067% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4260	0.0100	pay 0.0100% / 8h	7h 21m	$3.5M	$7.7M	50x
Short	Gate NEAR_USDT	4.4211	0.0100	get 0.0100% / 8h	7h 21m	$37.2M	$62.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → −0.044%: −$6.66
Slippage, 4 orders: −$50.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$84.23
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	6.79 bp	24.4 bp −$24	47.4 bp −$474	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	4.53 bp	21.1 bp −$21	32.7 bp −$327	49.2 bp −$4,916	61.4 bp −$30.7K

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
Kraken Futures PF_NEARUSD	−0.0427%	1h	4.4269	+0.020%	$7.3M	$38.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4189	−0.161%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4153	−0.242%	$108K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4211	−0.110%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.439%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4180	−0.181%	$122K	$501K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4272	+0.027%	$2.7M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4280	+0.045%	$266.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4277	+0.038%	$223.0M	$426.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4260	0.000%	$62.4M	$298.3M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.4240	−0.045%	$224K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−1.152%	$252K	$3K	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.4211	−0.111%	$37.2M	$62.4M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4290	+0.068%	$90.9M	$158.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4290	+0.068%	$53.1M	$45.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4218	−0.095%	$73.0M	$127.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4220	−0.090%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3876	−0.867%	$9.1M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4218	−0.095%	$256K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4259	−0.003%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4220	−0.090%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4180	−0.181%	$276K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4280	+0.045%	$57K	$238K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4290	+0.068%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4270	+0.023%	$5K	$49K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4260	long leg	$3.5M	$7.7M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4170	−0.202%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4264	+0.010%	$3.7M	$15.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4285	+0.056%	$206K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0137%	8h	4.4246	−0.032%	$875K	$25.5M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4310	+0.113%	$12.7M	$32.6M	75x	as long as short
Nado NEAR-PERP	+0.0230%	1h	4.4190	−0.158%	$1.7M	$3.2M	10x	as long as short
Hyperliquid NEAR	+0.0272%	1h	4.4249	−0.025%	$358.3M	$315.1M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.4219	−0.093%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0356% / S −0.0259%	1h	4.4261	+0.003%	$260K	—	100x	as long as short
Lighter RH NEAR	+0.0440%	1h	4.4332	+0.163%	$1.5M	$6.5M	10x	as long as short
Lighter NEAR	+0.0464%	1h	4.4322	+0.140%	$17.5M	$24.0M	15x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4320	+0.136%	$2.3M	$17.4M	50x	as long as short
HTX NEAR-USDT	+0.0490%	8h	4.4340	+0.181%	$468K	$3.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0545%	1h	4.4265	+0.011%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4300	+0.091%	$599K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4169	−0.204%	$416K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4057	−0.459%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0767%	1h	4.4301	+0.093%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1016%	1h	4.4034	−0.511%	$6K	$7K	10x	as long as short