Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SoDEX+0.012%7-day average — · you sell dearer than you buy

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

Long on SoDEX 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—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NEAR-USD	4.3395	0.0100	pay 0.0013% / 1h	36m 48s	$5K	$51K	10x
Short	Phemex NEARUSDT	4.3400	0.0100	get 0.0100% / 8h	6h 36m	$3.8M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → 0.000%: $1.15
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.85
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 2 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	6.92 bp	27.3 bp −$27	56.2 bp −$562	doesn't fit	doesn't fit

SoDEX: 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 NEARRUSDPERP	−0.0171%	1h	4.3381	−0.033%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3375	−0.046%	$2.2M	$13.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3382	−0.031%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3314	−0.187%	$526K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3399	+0.010%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.574%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.661%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3430	+0.081%	$116K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3393	−0.005%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3385	−0.023%	$410K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3458	+0.146%	$259.7M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3447	+0.120%	$220.9M	$419.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3450	+0.127%	$61.3M	$281.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3470	+0.173%	$206K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3300	−0.219%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3426	+0.071%	$31.2M	$60.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3440	+0.104%	$75.6M	$138.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3430	+0.081%	$55.8M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3445	+0.115%	$72.0M	$123.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3440	+0.104%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−0.366%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−0.128%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.380%	$179K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3434	+0.090%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3480	+0.196%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USDlong	+0.0100%	1h	4.3395	long leg	$5K	$51K	10x
HTX NEAR-USDT	+0.0100%	8h	4.3490	+0.219%	$443K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3400	+0.012%	$3.8M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3371	−0.055%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3384	−0.025%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3384	−0.026%	$202K	$34K	3x	as long as short
Aster NEARUSDT	+0.0112%	8h	4.3464	+0.159%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0218%	1h	4.3416	+0.049%	$7.6M	$40.2M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.403%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0360% / S −0.0278%	1h	4.3392	−0.008%	$260K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.3475	+0.184%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0442%	1h	4.3430	+0.081%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3479	+0.194%	$544K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0580%	1h	4.3420	+0.058%	$1.9M	$4.1M	25x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	+0.090%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0672%	1h	4.3463	+0.157%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0746%	1h	4.3508	+0.260%	$365.3M	$303.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0794%	1h	4.3446	+0.118%	$1.4M	$6.0M	20x	as long as short
Lighter NEAR	+0.1432%	1h	4.3493	+0.227%	$17.3M	$24.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1439%	1h	4.3261	−0.308%	$5K	$12K	10x	as long as short