Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0588%/8h= −64.4% APRpaid last 24h −0.036%

Price spread now: SunX against Lighter RH−0.262%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1481.483% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.407%−$41 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.262%, 7d avg −0.003%

Together, before fees−0.209%+ Points / potential airdropLighter RH: Points live · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and SunX is 0.259% cheaper against Lighter RH than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.407% in total (about -21.2% 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	4.3915	0.0688	pay 0.0086% / 1h	34m 33s	$1.6M	$6.9M	10x
Short	SunX NEAR-USDT	4.3800	0.0100	get 0.0100% / 8h	6h 34m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.262%Rate

Funding earned: −$123.48
Price spread: −0.262% → −0.003%: −$25.86
Slippage, 4 orders: −$140.25
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$297.59
Costs to cover: 1.483%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; SunX: live order book, 10 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, 4 min ago	2.19 bp	4.7 bp −$5	11.1 bp −$111	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	31.24 bp	86.4 bp −$86	doesn't fit	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	4.3914	−0.002%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3768	−0.335%	$2.2M	$13.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3833	−0.187%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3676	−0.544%	$535K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3700	−0.491%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.704%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0052%	8h	4.3548	−0.835%	$8.3M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3840	−0.171%	$117K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3726	−0.430%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3870	−0.103%	$415K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3873	−0.096%	$262.1M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3867	−0.109%	$223.1M	$420.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3860	−0.125%	$61.8M	$285.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3870	−0.102%	$208K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	−1.060%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3822	−0.212%	$31.6M	$61.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3840	−0.171%	$76.3M	$138.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3880	−0.080%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3900	−0.034%	$72.6M	$123.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3830	−0.194%	—	$142.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−1.546%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−1.311%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	−1.173%	$180K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3926	+0.025%	$215K	$3.5M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.3800	−0.262%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.3725	−0.433%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3850	−0.148%	$453K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3740	−0.398%	$3.9M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3840	−0.171%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3804	−0.254%	$3.9M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3725	−0.433%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0129%	8h	4.3850	−0.148%	$3.1M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0216%	1h	4.3747	−0.382%	$7.7M	$40.3M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−1.583%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0361% / S −0.0278%	1h	4.3679	−0.537%	$262K	—	100x	as long as short
01 Exchange NEARUSD	+0.0376%	1h	4.3874	−0.093%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0409%	1h	4.3885	−0.068%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3870	−0.103%	$547K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	−1.095%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEARlong	+0.0688%	1h	4.3915	long leg	$1.6M	$6.9M	10x
Hyperliquid NEAR	+0.0782%	1h	4.3974	+0.134%	$369.1M	$303.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0818%	1h	4.3868	−0.107%	$1.4M	$6.0M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0894%	1h	4.3751	−0.373%	$1.9M	$4.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1439%	1h	4.3386	−1.204%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1480%	1h	4.3948	+0.074%	$17.5M	$24.8M	15x	as long as short