Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0996%/8h= +109.1% APRpaid last 24h +0.232%

Price spread now: Lighter against edgeX+0.043%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs+$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.780%+$78 on $10k

Price spread, last 7 days+0.188%+$19 · spread now +0.043%, 7d avg +0.172%

Together, before fees+0.968%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.129% cheaper against edgeX than usual: you would sell low and buy high (spread +0.043% now, against its 7-day average of +0.172%). If the spread goes back, that is −$13 on $10k: about 10 hours of funding at the current rate (+$30 a day). At the pace of the last 7 days (+0.780% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NEARUSDC	4.3528	0.0100	pay 0.0050% / 4h	3h 15m	$254K	$951K	20x
Short	Lighter NEAR	4.3546	0.1096	get 0.0137% / 1h	15m 41s	$17.6M	$25.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.043%Rate

Funding earned: $209.16
Price spread: +0.043% → +0.172%: −$12.88
Slippage, 4 orders: −$28.35
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $158.93
Costs to cover: 0.374%
Break-even: 1.7 days

Slippage from edgeX: live order book, 28 min ago; Lighter: live order book, 8 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 edgeX live order book, 28 min ago	6.91 bp	11.9 bp −$12	35.0 bp −$350	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	2.77 bp	4.1 bp −$4	12.6 bp −$126	68.2 bp −$6,818	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	4.3459	−0.157%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3431	−0.221%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3449	−0.181%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.865%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3494	−0.077%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3450	−0.178%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3445	−0.190%	$265.7M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3414	−0.261%	$214.8M	$425.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3450	−0.178%	$61.5M	$289.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.637%	$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	4.3447	−0.185%	$32.2M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3490	−0.086%	$74.1M	$146.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3480	−0.109%	$53.9M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3457	−0.162%	$71.6M	$127.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3460	−0.155%	—	$144.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	−0.184%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDClong	+0.0100%	4h	4.3528	long leg	$254K	$951K	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.007%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3460	−0.155%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3492	−0.082%	$274K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3505	−0.052%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3560	+0.074%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3630	+0.235%	$473K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3520	−0.017%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3435	−0.214%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3515	−0.029%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3600	+0.166%	$13.6M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3484	−0.101%	$402K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0282%	8h	4.3490	−0.086%	$873K	$23.4M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0198%	1h	4.3447	−0.186%	$235K	—	100x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.3470	−0.132%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0364%	1h	4.3485	−0.098%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3520	−0.017%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0559%	1h	4.3453	−0.172%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0584%	1h	4.3515	−0.029%	$356.3M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0597%	1h	4.3520	−0.017%	$1.3M	$6.7M	20x	as long as short
Extended NEAR-USD	+0.0600%	1h	4.3452	−0.173%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3510	−0.040%	$214K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0709%	1h	4.3495	−0.075%	$7.6M	$39.0M	50x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3540	+0.029%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.171%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0946%	1h	4.3528	+0.001%	$2.0M	$9.6M	25x	as long as short
Lighter NEARshort	+0.1096%	1h	4.3546	+0.043%	$17.6M	$25.1M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3501	−0.061%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1578%	1h	4.3494	−0.078%	$5K	$13K	10x	as long as short