Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against ApeX Omni−0.253%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now −0.253%, 7d avg −0.063%

Together, before fees−0.137%−$14 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: Phemex is 0.190% cheaper against ApeX Omni than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni NEARUSDT	4.3500	0.0100	pay 0.0013% / 1h	14m 35s	$167K	$796K	50x
Short	Phemex NEARUSDT	4.3390	0.0100	get 0.0100% / 8h	3h 14m	$3.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.253%Rate

Funding earned: $0
Price spread: −0.253% → −0.063%: −$19.03
Slippage, 4 orders: −$50.59
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$91.62
Costs to cover: 0.726%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 39 min ago; Phemex: live order book, 4 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 ApeX Omni live order book, 39 min ago	5.74 bp	18.5 bp −$19	117.2 bp −$1,172	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	4.60 bp	23.1 bp −$23	45.0 bp −$450	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	4.3308	−0.441%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	−0.434%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3382	−0.271%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.805%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3493	−0.016%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3320	−0.414%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3348	−0.349%	$265.0M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3306	−0.446%	$214.2M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	−0.414%	$61.3M	$288.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.574%	$246K	−$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	4.3299	−0.462%	$32.1M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3350	−0.345%	$73.8M	$146.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	−0.345%	$53.7M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3321	−0.411%	$71.4M	$127.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3320	−0.414%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	−0.121%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.063%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.070%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDTlong	+0.0100%	1h	4.3500	long leg	$167K	$796K	50x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3343	−0.361%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3372	−0.294%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3500	0.000%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3460	−0.092%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3390	−0.253%	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	−0.459%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3370	−0.299%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	−0.207%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	−0.365%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3465	−0.080%	$874K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0198%	1h	4.3391	−0.251%	$235K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3330	−0.391%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0356%	1h	4.3344	−0.359%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3345	−0.356%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.3322	−0.410%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0577%	1h	4.3371	−0.297%	$355.1M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0597%	1h	4.3369	−0.301%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0600%	1h	4.3307	−0.444%	$3.8M	$19.9M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3360	−0.322%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3356	−0.330%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0742%	1h	4.3375	−0.287%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3384	−0.267%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.234%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1056%	1h	4.3390	−0.254%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3351	−0.343%	$681K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1569%	1h	4.3451	−0.112%	$5K	$13K	10x	as long as short