Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0940%/8h= −102.9% APRpaid last 24h −0.102%

Price spread now: HTX against Lighter+0.076%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

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

costs, in and out, $10k−$450.445% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now +0.076%, 7d avg +0.066%

Together, before fees−0.034%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$28 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.210% in total (about -10.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.3027	0.1040	pay 0.0130% / 1h	3m 02s	$17.4M	$25.1M	15x
Short	HTX NEAR-USDT	4.3060	0.0100	get 0.0100% / 8h	3h 03m	$461K	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$197.4
Price spread: +0.076% → +0.066%: $0.96
Slippage, 4 orders: −$32.5
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$240.94
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; HTX: live order book, 1 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	1.75 bp	1.8 bp −$2	10.3 bp −$103	58.2 bp −$5,816	doesn't fit
Sell HTX live order book, 1 min ago	5.82 bp	15.7 bp −$16	55.5 bp −$555	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	4.2969	−0.136%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2873	−0.360%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2940	−0.203%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.759%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2973	−0.126%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2970	−0.133%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2986	−0.097%	$262.1M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2953	−0.173%	$212.7M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2970	−0.133%	$60.7M	$285.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.980%	$248K	−$0	10x	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	+0.0100%	8h	4.2932	−0.222%	$31.9M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2980	−0.110%	$73.2M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2980	−0.110%	$53.4M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2948	−0.185%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2960	−0.157%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	−0.093%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2977	−0.118%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2967	−0.139%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.378%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3000	−0.064%	$268K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2977	−0.117%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3010	−0.040%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDTshort	+0.0100%	8h	4.3060	+0.076%	$461K	$3.9M	75x
Phemex NEARUSDT	+0.0100%	8h	4.3010	−0.040%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2905	−0.285%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2994	−0.077%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2980	−0.110%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERP	+0.0250%	8h	4.2964	−0.147%	$777K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2925	−0.237%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0321%	1h	4.2955	−0.168%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2936	−0.213%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2973	−0.126%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2999	−0.066%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0544%	1h	4.2926	−0.236%	$3.7M	$19.8M	25x	as long as short
Hyperliquid NEAR	+0.0561%	1h	4.2980	−0.110%	$351.8M	$313.1M	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.2950	−0.180%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0564%	1h	4.2977	−0.117%	$1.3M	$6.8M	20x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	−0.087%	$211K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2957	−0.164%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0912%	1h	4.3008	−0.045%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.634%	$1.8M	$2.8M	10x	as long as short
Lighter NEARlong	+0.1040%	1h	4.3027	long leg	$17.4M	$25.1M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.2990	−0.086%	$672K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1310%	1h	4.3010	−0.040%	$1.9M	$10.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1536%	1h	4.3090	+0.147%	$5K	$12K	10x	as long as short