Funding arb · Price arb /

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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: SunX against Phemex+0.093%7-day average +0.135% · you sell dearer than you buy

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

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.093%, 7d avg +0.135%

Together, before fees+0.133%+$13 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: SunX is 0.042% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.135%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2950	0.0100	pay 0.0100% / 8h	6h 56m	$3.8M	$8.3M	50x
Short	SunX NEAR-USDT	4.2990	0.0100	get 0.0100% / 8h	6h 56m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.135%: −$4.23
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$24.23
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; SunX: live order book, 8 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 Phemex live order book, 3 min ago	4.64 bp	20.4 bp −$20	54.6 bp −$546	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	501.73 bp	doesn't fit	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	4.2898	−0.121%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.2929	−0.049%	$2.1M	$13.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2802	−0.345%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2828	−0.284%	$395K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2879	−0.165%	$156K	—	150x	as long as short
Variational Omni NEAR	+0.0025%	8h	4.2868	−0.190%	$8.1M	$18.8M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.586%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2870	−0.186%	$114K	$475K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.2935	−0.035%	$57K	$162K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2917	−0.077%	$3.0M	$5.8M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2820	−0.302%	$403K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2944	−0.014%	$254.8M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2922	−0.065%	$218.1M	$417.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2910	−0.093%	$60.5M	$275.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2840	−0.256%	$203K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3162	+0.494%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2882	−0.158%	$30.7M	$59.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2880	−0.163%	$73.3M	$136.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2940	−0.023%	$55.3M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2934	−0.037%	$71.0M	$122.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2890	−0.140%	—	$142.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3195	+0.571%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3258	+0.718%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	+0.652%	$177K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2926	−0.056%	$208K	$3.5M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.2990	+0.093%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.2920	−0.070%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3020	+0.163%	$436K	$3.7M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2950	long leg	$3.8M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2795	−0.361%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2915	−0.082%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2940	−0.023%	$200K	$31K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2890	−0.140%	$13.1M	$27.5M	75x	as long as short
Kraken Futures PF_NEARUSD	+0.0220%	1h	4.2940	−0.023%	$7.9M	$37.8M	50x	as long as short
01 Exchange NEARUSD	+0.0304%	1h	4.2870	−0.186%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0302%	1h	4.2878	−0.167%	$271K	—	100x	as long as short
Lighter RH NEAR	+0.0496%	1h	4.2991	+0.095%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3191	+0.561%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.2833	−0.273%	$425K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0538%	1h	4.2890	−0.140%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0542%	1h	4.2950	0.000%	$1.9M	$4.0M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0752%	1h	4.2867	−0.193%	$1.3M	$5.9M	20x	as long as short
Hyperliquid NEAR	+0.0769%	1h	4.2974	+0.056%	$363.6M	$302.6M	10x	as long as short
Lighter NEAR	+0.1336%	1h	4.2987	+0.085%	$17.1M	$24.4M	15x	as long as short
Aftermath Perps NEARUSD	+0.1499%	1h	4.3089	+0.323%	$5K	$12K	10x	as long as short