Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: MEXC against gTrade (Gains Network)−0.237%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$298as in the Price arb table

costs, in and out, $10k−$2762.759% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.096%+$10 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.237%, 7d avg −0.013%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.224% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.237% now, against its 7-day average of −0.013%). If the spread goes back, that is −$22 on $10k: about 7.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) NEAR/USD	4.2992	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	45m 34s	$204K	—	150x
Short	MEXC NEAR_USDT	4.2890	0.0100	get 0.0100% / 8h	7h 45m	$79.5M	$138.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now −0.237%Rate

Funding earned: $20.11
Price spread: −0.237% → −0.013%: −$22.39
Slippage, 4 orders: −$265.94
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$278.23
Costs to cover: 2.759%
Break-even: 103.8 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 28 min ago; MEXC: 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 gTrade (Gains Network) virtual book (oracle venue), 28 min ago	130.01 bp	135.0 bp −$135	875.9 bp −$8,759	9405.5 bp −$940.5K	doesn't fit
Sell MEXC live order book, 4 min ago	1.16 bp	1.3 bp −$1	5.2 bp −$52	38.7 bp −$3,867	83.0 bp −$41.5K

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	4.2843	−0.347%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0147%	8h	4.2866	−0.293%	$218.7M	$418.8M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3043	+0.118%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2960	−0.074%	$2.3M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2866	−0.293%	$111K	$64K	10x	as long as short
01 Exchange NEARUSD	0.0000%	1h	4.2896	−0.223%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2913	−0.184%	$377K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USDlong	L +0.0004% / S −0.0004%	1h	4.2992	long leg	$204K	—	150x
Variational Omni NEAR	+0.0008%	8h	4.2958	−0.078%	$8.0M	$18.7M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.680%	$578	$302K	12x	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	+0.0056%	8h	4.2887	−0.244%	$30.9M	$58.7M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2900	−0.214%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3056	+0.149%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2869	−0.287%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2901	−0.213%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2893	−0.229%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2880	−0.261%	$254.8M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2870	−0.284%	$60.9M	$278.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2910	−0.191%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	+0.135%	$245K	−$0	10x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.2890	−0.237%	$79.5M	$138.8M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	−0.191%	$56.2M	$43.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2868	−0.288%	$71.1M	$124.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2880	−0.261%	—	$141.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3101	+0.253%	$277K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3108	+0.270%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2900	−0.214%	$179K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2892	−0.233%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3100	+0.251%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3010	+0.042%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.251%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2970	−0.051%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2863	−0.299%	$3.9M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3043	+0.118%	$200K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2970	−0.051%	$13.1M	$29.1M	75x	as long as short
Hyperliquid NEAR	+0.0257%	1h	4.2921	−0.165%	$365.5M	$300.5M	10x	as long as short
Lighter RH NEAR	+0.0288%	1h	4.2916	−0.177%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0354%	1h	4.3076	+0.195%	$1.9M	$3.0M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2985	−0.017%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2914	−0.181%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0466%	1h	4.2873	−0.276%	$1.9M	$3.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0468%	1h	4.2967	−0.058%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.416%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1279%	1h	4.3056	+0.149%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2176%	1h	4.2998	+0.013%	$17.2M	$23.9M	15x	as long as short