Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0694%/8h= +76.0% APRpaid last 24h +0.156%

Price spread now: Phoenix against KuCoin+0.114%48s7-day average +0.181% · you sell dearer than you buy

Net, funding: paid 7d − costs+$12as 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−$620.623% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.745%+$75 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.114%, 7d avg +0.181%

Together, before fees+0.805%+$80 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.067% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.114% now, against its 7-day average of +0.181%). If the spread goes back, that is −$7 on $10k: about 8 hours of funding at the current rate (+$21 a day). The two prices were read 48 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	KuCoin NEARUSDTM	4.3950	0.0100	pay 0.0100% / 8h	4h 08m	$54.7M	$46.2M	75x
Short	Phoenix NEAR	4.4000	0.0794	get 0.0099% / 1h	8m 35s	$1.8M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now +0.114%Rate

Funding earned: $145.71
Price spread: +0.114% → +0.181%: −$6.7
Slippage, 4 orders: −$43.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $76.76
Costs to cover: 0.623%
Break-even: 3.3 days

Slippage from KuCoin: live order book, 10 min ago; Phoenix: 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 KuCoin live order book, 10 min ago	2.26 bp	18.0 bp −$18	39.2 bp −$392	110.0 bp −$11.0K	doesn't fit
Sell Phoenix live order book, 5 min ago	0.90 bp	11.9 bp −$12	22.8 bp −$228	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	4.3898	−0.117%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3893	−0.130%	$2.2M	$15.6M	50x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3859	−0.207%	$617K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3905	−0.102%	$164K	—	150x	as long as short
dYdX NEAR-USD	+0.0008%	1h	4.3906	−0.100%	$108K	$69K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.779%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3890	−0.137%	$113K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3940	−0.024%	$418K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3952	+0.005%	$270.8M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3940	−0.023%	$221.3M	$424.0M	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	4.3940	−0.023%	$62.7M	$296.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	+0.237%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3921	−0.066%	$32.0M	$64.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3960	+0.023%	$74.0M	$150.6M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3950	long leg	$54.7M	$46.2M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3948	−0.005%	$72.2M	$130.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3960	+0.023%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4067	+0.266%	$8.5M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4083	+0.302%	$264K	$962K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4010	+0.137%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4090	+0.319%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3937	−0.030%	$243K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3931	−0.043%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3990	+0.091%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4020	+0.159%	$456K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3940	−0.023%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3940	−0.022%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3902	−0.109%	$204K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0183%	1h	4.3855	−0.216%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3910	−0.091%	$13.7M	$32.5M	75x	as long as short
Aster NEARUSDT	+0.0305%	8h	4.3918	−0.072%	$2.9M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0190%	1h	4.3903	−0.108%	$233K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0335%	1h	4.3911	−0.089%	$1.3M	$6.4M	20x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.3938	−0.027%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0391%	1h	4.3969	+0.043%	$362.5M	$319.7M	10x	as long as short
Extended NEAR-USD	+0.0472%	1h	4.3929	−0.048%	$3.9M	$19.6M	25x	as long as short
Nado NEAR-PERP	+0.0567%	1h	4.3910	−0.091%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4000	+0.114%	$217K	$1.7M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0592%	1h	4.3883	−0.153%	$8.0M	$39.7M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.3979	+0.066%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0775%	1h	4.3939	−0.025%	$2.0M	$7.3M	25x	as long as short
Phoenix NEARshort	+0.0794%	1h	4.4000	+0.114%	$1.8M	$2.8M	10x
RISEx NEAR/USDC	+0.0926%	1h	4.3972	+0.050%	$591K	$1.4M	10x	as long as short
Lighter NEAR	+0.1032%	1h	4.3998	+0.109%	$17.7M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1598%	1h	4.4033	+0.190%	$5K	$12K	10x	as long as short