Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.081%

Price spread now: Phemex against Reya+0.095%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phemex is 0.095% dearer against Reya than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya NEARRUSDPERP	4.2909	−0.0171	get 0.0021% / 1h	4m 03s	$2K	—	20x
Short	Phemex NEARUSDT	4.2950	0.0100	get 0.0100% / 8h	3h 04m	$3.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Reya. 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 ReyabpFee PhemexbpOrdersPrice spread, now +0.095%Rate

Funding earned: $56.88
Price spread: +0.095% → 0.000%: $9.5
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: $48.38
Costs to cover: 0.180%
Break-even: 1.0 days

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 5 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 Reya no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	4.63 bp	16.3 bp −$16	37.6 bp −$376	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 NEARRUSDPERPlong	−0.0171%	1h	4.2909	long leg	$2K	—	20x
dYdX NEAR-USD	0.0000%	1h	4.2946	+0.086%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2893	−0.038%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.494%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2940	+0.072%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2910	+0.002%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2970	+0.142%	$262.0M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2933	+0.055%	$212.6M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2940	+0.072%	$60.8M	$285.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+1.258%	$248K	−$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	4.2919	+0.023%	$31.9M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2950	+0.095%	$73.2M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2920	+0.025%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2935	+0.060%	$71.0M	$127.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2960	+0.118%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	+0.182%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	+0.547%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3190	+0.654%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.654%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2947	+0.088%	$268K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2903	−0.015%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3000	+0.212%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2990	+0.188%	$460K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.2950	+0.095%	$3.6M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2926	+0.038%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2915	+0.013%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2990	+0.188%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERP	+0.0250%	8h	4.2956	+0.109%	$776K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2979	+0.163%	$397K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2885	−0.057%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0324%	1h	4.2875	−0.080%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0332%	8h	4.2970	+0.142%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2956	+0.109%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2872	−0.088%	$3.7M	$19.8M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0563%	1h	4.2966	+0.132%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0568%	1h	4.2905	−0.010%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0569%	1h	4.2979	+0.163%	$351.8M	$313.0M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.188%	$211K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0706%	1h	4.2910	+0.002%	$1.9M	$9.9M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0719%	1h	4.2883	−0.062%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.2999	+0.209%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.911%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1032%	1h	4.3015	+0.246%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2947	+0.087%	$669K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1540%	1h	4.3126	+0.505%	$5K	$12K	10x	as long as short