Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.227%

Price spread now: Lighter against Gate+0.125%7-day average +0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs+$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.847%+$85 on $10k

Price spread, last 7 days+0.016%+$2 · spread now +0.125%, 7d avg +0.171%

Together, before fees+0.863%+ Points / potential airdropLighter: Season 3 · farm board+$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.047% cheaper against Gate than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.171%). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.847% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.4863	0.0100	pay 0.0100% / 8h	5h 47m	$39.9M	$62.0M	75x
Short	Lighter NEAR	4.4919	0.0280	get 0.0035% / 1h	47m 30s	$17.5M	$23.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.125%Rate

Funding earned: $37.8
Price spread: +0.125% → +0.171%: −$4.66
Slippage, 4 orders: −$24.75
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.61
Costs to cover: 0.397%
Break-even: 8.2 days

Slippage from Gate: live order book, 5 min ago; Lighter: 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 Gate live order book, 5 min ago	1.78 bp	14.9 bp −$15	23.2 bp −$232	43.5 bp −$4,347	60.7 bp −$30.4K
Sell Lighter live order book, 4 min ago	1.59 bp	3.4 bp −$3	9.1 bp −$91	60.1 bp −$6,010	doesn't fit

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0235%	1h	4.4954	+0.202%	$7.4M	$36.9M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4859	−0.009%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4874	+0.025%	$110K	$53K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4988	+0.279%	$846K	$26.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4976	+0.251%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.697%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4840	−0.051%	$123K	$503K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4876	+0.029%	$2.6M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4875	+0.028%	$272.2M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4839	−0.053%	$231.4M	$427.5M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4860	−0.007%	$64.2M	$298.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4950	+0.194%	$268K	$12K	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4863	long leg	$39.9M	$62.0M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4890	+0.060%	$77.4M	$167.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4890	+0.060%	$53.3M	$43.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4839	−0.053%	$74.4M	$126.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4880	+0.038%	—	$76.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4874	+0.024%	$8.9M	$16.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4861	−0.004%	$265K	$869K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4810	−0.119%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4790	−0.163%	$167K	$823K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4927	+0.143%	$279K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5000	+0.305%	$58K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5010	+0.328%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4985	+0.272%	$5K	$39K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5000	+0.305%	$467K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4980	+0.261%	$3.4M	$7.9M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4869	+0.013%	$33K	$245	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4835	−0.062%	$3.8M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4975	+0.250%	$209K	$38K	3x	as long as short
Nado NEAR-PERP	+0.0199%	1h	4.4940	+0.172%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0210%	1h	4.4936	+0.163%	$362.0M	$314.7M	10x	as long as short
01 Exchange NEARUSD	+0.0216%	1h	4.4822	−0.091%	$13K	$4K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4820	−0.096%	$12.9M	$32.5M	75x	as long as short
Lighter NEARshort	+0.0280%	1h	4.4919	+0.125%	$17.5M	$23.3M	15x
GMX NEAR/USD [ETH-USDC]	L +0.0341% / S −0.0226%	1h	4.4950	+0.195%	$263K	—	100x	as long as short
Arcus NEAR-USD	+0.0343%	1h	4.4870	+0.016%	$227K	$1.4M	10x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.4926	+0.140%	$1.6M	$5.8M	10x	as long as short
RISEx NEAR/USDC	+0.0489%	1h	4.4907	+0.099%	$634K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0504%	1h	4.5027	+0.366%	$2.3M	$17.6M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0657%	1h	4.5008	+0.323%	$1.1M	$7.1M	20x	as long as short
Phoenix NEAR	+0.0741%	1h	4.4898	+0.078%	$1.7M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0839%	1h	4.5029	+0.370%	$1.9M	$13.0M	25x	as long as short
Pacifica NEAR	+0.0851%	1h	4.4896	+0.073%	$420K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1148%	1h	4.4893	+0.067%	$6K	$6K	10x	as long as short