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: Phemex against BingX−0.046%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)+0.215%+$21 · spread now −0.046%, 7d avg +0.028%

Together, before fees+0.236%+$24 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 0.073% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDT	4.3890	0.0100	pay 0.0100% / 8h	6h 16m	—	$143.4M	—
Short	Phemex NEARUSDT	4.3870	0.0100	get 0.0100% / 8h	6h 16m	$3.9M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.028%: −$7.35
Slippage, 4 orders: −$35.81
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.15
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Phemex: live order book, 3 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 BingX live order book, 8 min ago	1.13 bp	6.1 bp −$6	9.1 bp −$91	18.7 bp −$1,866	41.7 bp −$20.9K
Sell Phemex live order book, 3 min ago	4.50 bp	22.6 bp −$23	46.1 bp −$461	doesn't fit	doesn't fit

NEAR on 44 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	4.3815	−0.171%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3911	+0.048%	$2.2M	$14.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3856	−0.077%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3875	−0.034%	$599K	$20.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3910	+0.045%	$194K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.650%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0080%	8h	4.4757	+1.975%	$8.6M	$18.5M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3830	−0.137%	$112K	$496K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3885	−0.012%	$412K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3868	−0.049%	$266.3M	$1.08B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3888	−0.005%	$222.6M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3870	−0.046%	$62.5M	$290.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3890	0.000%	$209K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3850	−0.091%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3872	−0.041%	$31.6M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3900	+0.023%	$75.3M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3900	+0.023%	$53.9M	$43.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3860	−0.068%	$72.2M	$126.1M	75x	as long as short
BingX NEAR-USDTlong	+0.0100%	8h	4.3890	long leg	—	$143.4M	—
edgeX NEARUSDC	+0.0100%	4h	4.4564	+1.535%	$281K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4520	+1.435%	$1.5M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4540	+1.481%	$183K	$765K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3871	−0.043%	$208K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3929	+0.089%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3950	+0.137%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3880	−0.023%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3990	+0.228%	$454K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3870	−0.046%	$3.9M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3832	−0.132%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3865	−0.058%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3923	+0.075%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0176%	8h	4.3845	−0.103%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0216%	1h	4.3887	−0.007%	$8.0M	$40.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0348% / S −0.0242%	1h	4.3881	−0.020%	$256K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0387%	1h	4.3957	+0.153%	$1.9M	$4.2M	25x	as long as short
Nado NEAR-PERP	+0.0408%	1h	4.3838	−0.118%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0424%	1h	4.3831	−0.134%	$13K	$7K	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3847	−0.097%	$554K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4150	+0.592%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0792%	1h	4.3924	+0.077%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEAR	+0.0907%	1h	4.3906	+0.036%	$369.8M	$309.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0930%	1h	4.3903	+0.030%	$1.4M	$6.3M	20x	as long as short
Aftermath Perps NEARUSD	+0.1618%	1h	4.4191	+0.686%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1752%	1h	4.3984	+0.213%	$17.6M	$25.7M	15x	as long as short