Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0588%/8h= −64.4% APRpaid last 24h +0.078%

Price spread now: HTX against Lighter RH+0.204%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$770.771% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.204%, 7d avg +0.095%

Together, before fees+0.119%+ Points / potential airdropLighter RH: Points live · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.109% dearer against Lighter RH than usual: you sell high and buy low (spread +0.204% now, against its 7-day average of +0.095%): +$11 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.148%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.148% in total (about 7.7% 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 RH NEAR	4.4020	0.0688	pay 0.0086% / 1h	11m 12s	$1.5M	$7.2M	10x
Short	HTX NEAR-USDT	4.4110	0.0100	get 0.0100% / 8h	4h 11m	$457K	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter RH. 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 Lighter RHbpFee HTXbpOrdersPrice spread, now +0.204%Rate

Funding earned: −$123.48
Price spread: +0.204% → +0.095%: $10.92
Slippage, 4 orders: −$65.05
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$189.61
Costs to cover: 0.771%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; HTX: live order book, 3 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 RH live order book, 2 min ago	2.82 bp	6.3 bp −$6	11.3 bp −$113	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	10.16 bp	22.5 bp −$23	73.4 bp −$734	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	4.4040	+0.046%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3987	−0.075%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4091	+0.160%	$109K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4028	+0.018%	$618K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4051	+0.070%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.929%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4070	+0.114%	$113K	$517K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4135	+0.261%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4010	−0.023%	$271.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3950	−0.159%	$221.4M	$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	4.3960	−0.136%	$62.7M	$297.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	+0.078%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3963	−0.129%	$32.0M	$64.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4020	0.000%	$74.7M	$150.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3980	−0.091%	$54.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3965	−0.125%	$72.2M	$130.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3970	−0.114%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4067	+0.106%	$8.5M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4159	+0.316%	$265K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4070	+0.114%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4090	+0.159%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4109	+0.202%	$244K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4006	−0.032%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4050	+0.068%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDTshort	+0.0100%	8h	4.4110	+0.204%	$457K	$4.0M	75x
Phemex NEARUSDT	+0.0100%	8h	4.4000	−0.045%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4085	+0.148%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4020	0.000%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0180%	1h	4.3945	−0.170%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3970	−0.114%	$13.8M	$32.6M	75x	as long as short
Aster NEARUSDT	+0.0310%	8h	4.4076	+0.128%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4057	+0.085%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0337%	1h	4.4001	−0.043%	$1.3M	$6.4M	20x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.4126	+0.241%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0384%	1h	4.4040	+0.045%	$363.3M	$325.0M	10x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.3948	−0.163%	$3.9M	$19.7M	25x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0501%	1h	4.3997	−0.052%	$2.0M	$7.3M	25x	as long as short
Nado NEAR-PERP	+0.0553%	1h	4.4079	+0.134%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4150	+0.295%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0591%	1h	4.3954	−0.151%	$8.0M	$39.6M	50x	as long as short
Lighter RH NEARlong	+0.0688%	1h	4.4020	long leg	$1.5M	$7.2M	10x
Phoenix NEAR	+0.0794%	1h	4.4173	+0.348%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4150	+0.295%	$593K	$1.4M	10x	as long as short
Lighter NEAR	+0.0976%	1h	4.4062	+0.095%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1585%	1h	4.4135	+0.260%	$5K	$12K	10x	as long as short