Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0804%/8h= −88.0% APRpaid last 24h −0.231%

Price spread now: edgeX against Lighter+0.013%79s7-day average −0.170% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as 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−$340.343% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.802%−$80 on $10k

Price spread, last 7 days−0.241%−$24 · spread now +0.013%, 7d avg −0.170%

Together, before fees−1.043%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$104 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.184% dearer against Lighter than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.170%): +$18 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.802% in total) that is about 38 hours. The two prices were read 79 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	Lighter NEAR	4.4428	0.0904	pay 0.0113% / 1h	52m 21s	$17.4M	$24.6M	15x
Short	edgeX NEARUSDC	4.4434	0.0100	get 0.0050% / 4h	1h 52m	$260K	$963K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$168.84
Price spread: +0.013% → −0.170%: $18.36
Slippage, 4 orders: −$25.31
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$184.8
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; edgeX: live order book, 46 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 Lighter live order book, 6 min ago	3.18 bp	4.6 bp −$5	14.5 bp −$145	64.1 bp −$6,406	doesn't fit
Sell edgeX live order book, 46 min ago	6.99 bp	11.9 bp −$12	26.2 bp −$262	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	4.4378	−0.113%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4319	−0.245%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4379	−0.110%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.794%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4330	−0.221%	$114K	$494K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4350	−0.176%	$226.5M	$424.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4360	−0.154%	$62.5M	$295.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.140%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4387	−0.093%	$34.5M	$59.8M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4420	−0.019%	$53.5M	$45.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4356	−0.163%	$73.5M	$126.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4407	−0.047%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.4434	+0.013%	$260K	$963K	20x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4418	−0.023%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4401	−0.061%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4420	−0.019%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4480	+0.116%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4360	−0.154%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4330	−0.221%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4450	+0.049%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4395	−0.075%	$206K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0158%	8h	4.4380	−0.109%	—	$143.7M	—	as long as short
MEXC NEAR_USDT	+0.0165%	8h	4.4420	−0.019%	$85.8M	$143.9M	200x	as long as short
Binance NEARUSDT	+0.0167%	8h	4.4393	−0.079%	$268.9M	$1.08B	75x	as long as short
SoDEX NEAR-USD	+0.0237%	1h	4.4355	−0.165%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0285%	8h	4.4500	+0.161%	$13.5M	$32.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0305%	8h	4.4414	−0.032%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4381	−0.106%	$238K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4370	−0.131%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4343	−0.192%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4441	+0.029%	$2.3M	$16.3M	50x	as long as short
ApeX Omni NEARUSDT	+0.0440%	1h	4.4430	+0.004%	$168K	$803K	50x	as long as short
01 Exchange NEARUSD	+0.0496%	1h	4.4369	−0.133%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0575%	1h	4.4380	−0.109%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0604%	1h	4.4472	+0.098%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0658%	1h	4.4348	−0.181%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0679%	1h	4.4442	+0.031%	$365.7M	$306.6M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4580	+0.341%	$226K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0900%	1h	4.4412	−0.037%	$1.9M	$12.2M	25x	as long as short
Lighter NEARlong	+0.0904%	1h	4.4428	long leg	$17.4M	$24.6M	15x
Phoenix NEAR	+0.1003%	1h	4.4489	+0.137%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1016%	1h	4.4421	−0.016%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4364	−0.146%	$408K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1193%	1h	4.4376	−0.117%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4354	−0.167%	$678K	$1.4M	10x	as long as short