NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1848%/8h= +202.4% APRnext payment +$2.31 per $10,000 · paid last 24h +0.236%

Price spread now: Lighter against Coinbase International+0.280%7-day average +0.194% · you sell dearer than you buy

Net, funding: paid 7d − costs+$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.918%+$92 on $10k

Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.280%, 7d avg +0.194%

Together, before fees+0.758%+ Points / potential airdropLighter: Season 3 · farm board+$76 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and Lighter is 0.086% dearer against Coinbase International than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.194%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.918% in total (about 47.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.2738	−0.0072	get 0.0009% / 1h	38m 44s	$2.2M	$13.1M	50x
Short	Lighter NEAR	4.2858	0.1776	get 0.0222% / 1h	38m 44s	$16.5M	$23.7M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.280%Rate

Funding earned: $388.08
Price spread: +0.280% → +0.194%: $8.64
Slippage, 4 orders: −$21.58
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $365.14
Costs to cover: 0.316%
Break-even: 0.4 days

Slippage from Coinbase International: live order book, 5 min ago; Lighter: 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 Coinbase International live order book, 5 min ago	4.82 bp	11.6 bp −$12	20.5 bp −$205	367.9 bp −$36.8K	doesn't fit
Sell Lighter live order book, 5 min ago	2.73 bp	4.3 bp −$4	15.8 bp −$158	81.2 bp −$8,121	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	4.2705	−0.078%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXlong	−0.0072%	1h	4.2738	long leg	$2.2M	$13.1M	50x
dYdX NEAR-USD	0.0000%	1h	4.2749	+0.026%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2792	+0.126%	$399K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2753	+0.035%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.107%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0081%	8h	4.2711	−0.063%	$218.9M	$422.0M	75x	as long as short
Variational Omni NEAR	+0.0087%	8h	4.2660	−0.183%	$7.8M	$18.2M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	+0.005%	$109K	$495K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2726	−0.029%	$31K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2782	+0.102%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2764	+0.060%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2740	+0.005%	$253.1M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2650	−0.206%	$60.9M	$284.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2700	−0.089%	$202K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2674	−0.150%	$243K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2714	−0.056%	$30.1M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2670	−0.159%	$78.1M	$141.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	+0.075%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2619	−0.278%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2620	−0.276%	—	$138.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2660	−0.184%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2670	−0.159%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	−0.066%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2756	+0.042%	$198K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2762	+0.056%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2780	+0.098%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2725	−0.030%	$13K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2730	−0.019%	$3.9M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2711	−0.062%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2750	+0.028%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2756	+0.043%	$7.6M	$37.2M	50x	as long as short
01 Exchange NEARUSD	+0.0144%	1h	4.2751	+0.030%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	−0.019%	$13.0M	$30.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0313%	1h	4.2760	+0.051%	$274K	—	100x	as long as short
Lighter RH NEAR	+0.0384%	1h	4.2826	+0.206%	$1.5M	$7.0M	10x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2678	−0.141%	$416K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0445%	1h	4.2775	+0.087%	$1.4M	$5.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0452%	1h	4.2793	+0.129%	$1.9M	$2.3M	25x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2717	−0.049%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0764%	1h	4.2719	−0.045%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0853%	8h	4.2840	+0.239%	$459K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.0968%	1h	4.2824	+0.201%	$367.9M	$298.1M	10x	as long as short
Aftermath Perps NEARUSD	+0.1189%	1h	4.2797	+0.138%	$5K	$11K	10x	as long as short
Lighter NEARshort	+0.1776%	1h	4.2858	+0.280%	$16.5M	$23.7M	15x