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 Gate+0.281%49s7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.739% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now +0.281%, 7d avg +0.035%

Together, before fees+0.122%+$12 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 0.246% dearer against Gate than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.035%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.4146	0.0100	pay 0.0100% / 8h	4h 39m	$32.0M	$63.2M	75x
Short	Phemex NEARUSDT	4.4270	0.0100	get 0.0100% / 8h	4h 39m	$3.8M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.281%Rate

Funding earned: $0
Price spread: +0.281% → +0.035%: $24.58
Slippage, 4 orders: −$46.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$49.32
Costs to cover: 0.739%
Break-even: never at this rate

Slippage from Gate: 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 Gate live order book, 5 min ago	2.46 bp	11.5 bp −$11	19.0 bp −$190	34.7 bp −$3,474	55.3 bp −$27.6K
Sell Phemex live order book, 5 min ago	7.83 bp	21.1 bp −$21	46.7 bp −$467	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	4.4137	−0.019%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4428	+0.639%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4113	−0.075%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4524	+0.856%	$623K	$21.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	+0.007%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.198%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4100	−0.104%	$116K	$516K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4151	+0.010%	$422K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4170	+0.054%	$270.1M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4150	+0.009%	$221.8M	$424.4M	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	4.4160	+0.032%	$62.8M	$299.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.915%	$254K	−$0	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4146	long leg	$32.0M	$63.2M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4190	+0.100%	$74.1M	$148.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4110	−0.082%	$54.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4139	−0.016%	$72.6M	$130.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4160	+0.032%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+0.953%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	+0.962%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+1.040%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4600	+1.028%	$171K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4126	−0.045%	$238K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4187	+0.093%	$56K	$220K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4390	+0.553%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4242	+0.217%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	+0.439%	$461K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4270	+0.281%	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4088	−0.132%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4315	+0.383%	$206K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0172%	1h	4.4129	−0.039%	$364.4M	$324.2M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4058	−0.200%	$4.0M	$19.6M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4590	+1.006%	$14.1M	$33.3M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0223%	1h	4.4247	+0.229%	$1.3M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4127	−0.043%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0293%	8h	4.4122	−0.055%	$3.0M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0314%	1h	4.4320	+0.394%	$2.0M	$6.8M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0329% / S −0.0206%	1h	4.4142	−0.008%	$239K	—	100x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.4191	+0.102%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0562%	1h	4.4139	−0.016%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4490	+0.779%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0587%	1h	4.4237	+0.206%	$8.2M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4453	+0.695%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0824%	1h	4.4240	+0.212%	$17.8M	$26.2M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4133	−0.029%	$560K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1570%	1h	4.4505	+0.814%	$6K	$12K	10x	as long as short