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: OKX against Phemex+0.046%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on Phemex Short on OKX

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)−0.170%−$17 · spread now +0.046%, 7d avg −0.055%

Together, before fees−0.117%−$12 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: OKX is 0.101% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3210	0.0100	pay 0.0100% / 8h	33m 29s	$3.5M	$8.2M	50x
Short	OKX NEAR-USDT-SWAP	4.3230	0.0100	get 0.0100% / 8h	33m 29s	$60.7M	$291.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.055%: $10.08
Slippage, 4 orders: −$32.29
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$44.2
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; OKX: live order book, 6 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	3.47 bp	18.9 bp −$19	48.9 bp −$489	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	1.16 bp	8.3 bp −$8	15.0 bp −$150	39.6 bp −$3,962	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	4.3224	+0.033%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3168	−0.096%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3182	−0.064%	$162K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3165	−0.104%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.166%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3220	+0.023%	$110K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3221	+0.025%	$218.2M	$430.2M	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.3230	+0.046%	$60.7M	$291.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3160	−0.116%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3182	−0.065%	$35.2M	$62.4M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3200	−0.023%	$52.3M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3224	+0.032%	$71.5M	$128.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3217	+0.015%	$8.7M	$18.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3097	−0.261%	$250K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3190	−0.046%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3170	−0.093%	$165K	$813K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3246	+0.083%	$283K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3205	−0.012%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3280	+0.162%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3195	−0.035%	$5K	$50K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3210	long leg	$3.5M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3178	−0.073%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3150	−0.138%	$3.6M	$17.2M	25x	as long as short
HTX NEAR-USDT	+0.0123%	8h	4.3270	+0.139%	$461K	$3.8M	75x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3202	−0.018%	$201K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0183%	8h	4.3183	−0.062%	$938K	$25.2M	2.2x	as long as short
Aster NEARUSDT	+0.0189%	8h	4.3199	−0.024%	$2.7M	$4.8M	50x	as long as short
Binance NEARUSDT	+0.0189%	8h	4.3225	+0.034%	$262.4M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0191%	8h	4.3210	0.000%	$83.3M	$150.7M	200x	as long as short
BingX NEAR-USDC	+0.0199%	8h	4.3170	−0.093%	—	$6.6M	—	as long as short
Hyperliquid NEAR	+0.0222%	1h	4.3206	−0.009%	$348.6M	$315.4M	10x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.3212	+0.005%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0313%	8h	4.3190	−0.046%	$13.3M	$31.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0204%	1h	4.3175	−0.080%	$233K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0398%	1h	4.3216	+0.014%	$1.1M	$7.0M	20x	as long as short
Nado NEAR-PERP	+0.0437%	1h	4.3195	−0.034%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3199	−0.025%	$2.3M	$16.8M	50x	as long as short
Lighter RH NEAR	+0.0544%	1h	4.3258	+0.111%	$1.5M	$6.6M	10x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3210	0.000%	$226K	$1.6M	10x	as long as short
Lighter NEAR	+0.0672%	1h	4.3255	+0.104%	$17.0M	$25.1M	15x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3208	−0.004%	$407K	$1.5M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3233	+0.053%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3217	+0.015%	$599K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0978%	1h	4.3228	+0.042%	$1.9M	$13.2M	25x	as long as short
Aftermath Perps NEARUSD	+0.1246%	1h	4.3216	+0.013%	$5K	$7K	10x	as long as short