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 Bitget−0.185%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$830.827% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+1.130%+$113 · spread now −0.185%, 7d avg +0.026%

Together, before fees+1.126%+$113 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 0.211% cheaper against Bitget than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NEARUSDT	4.4422	0.0100	pay 0.0100% / 8h	5h 29m	$73.2M	$127.2M	75x
Short	Phemex NEARUSDT	4.4340	0.0100	get 0.0100% / 8h	5h 29m	$3.9M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → +0.026%: −$21.05
Slippage, 4 orders: −$58.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.73
Costs to cover: 0.827%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago	1.69 bp	11.0 bp −$11	15.9 bp −$159	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	6.76 bp	34.9 bp −$35	80.6 bp −$806	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	4.4417	−0.011%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4412	−0.023%	$2.2M	$14.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4341	−0.183%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4412	−0.023%	$606K	$19.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4447	+0.057%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.780%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4350	−0.162%	$116K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4326	−0.217%	$418K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4377	−0.101%	$269.4M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4360	−0.140%	$223.0M	$419.5M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4340	−0.185%	$63.6M	$294.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	−0.003%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4431	+0.020%	$32.1M	$62.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4380	−0.095%	$76.8M	$143.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4370	−0.117%	$55.6M	$44.5M	75x	as long as short
Bitget NEARUSDTlong	+0.0100%	8h	4.4422	long leg	$73.2M	$127.2M	75x
BingX NEAR-USDT	+0.0100%	8h	4.4450	+0.063%	—	$145.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4186	−0.531%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4477	+0.125%	$267K	$989K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4180	−0.545%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4160	−0.590%	$172K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4456	+0.077%	$216K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4445	+0.052%	$60K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4490	+0.153%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4425	+0.007%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4520	+0.221%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4340	−0.185%	$3.9M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4352	−0.157%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4399	−0.052%	$3.8M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4441	+0.043%	$207K	$34K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0110%	1h	4.4466	+0.099%	$1.9M	$4.4M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4520	+0.221%	$13.7M	$31.7M	75x	as long as short
Aster NEARUSDT	+0.0238%	8h	4.4441	+0.044%	$3.0M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4450	+0.062%	$261K	—	100x	as long as short
01 Exchange NEARUSD	+0.0384%	1h	4.4354	−0.153%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.4415	−0.016%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4370	−0.117%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0576%	1h	4.4447	+0.056%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0693%	1h	4.4431	+0.020%	$8.3M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0712%	1h	4.4466	+0.099%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0739%	1h	4.4474	+0.117%	$370.4M	$309.1M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4463	+0.092%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4386	−0.081%	$559K	$1.3M	10x	as long as short
Lighter NEAR	+0.1288%	1h	4.4450	+0.063%	$17.8M	$25.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1651%	1h	4.4260	−0.365%	$6K	$12K	10x	as long as short