Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0309%/8h= −33.8% APRpaid last 24h −0.092%

Price spread now: Phemex against Nado+0.139%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.139%, 7d avg +0.024%

Together, before fees−0.090%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.115% dearer against Nado than usual: you sell high and buy low (spread +0.139% now, against its 7-day average of +0.024%): +$11 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 4 days (−0.116% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NEAR-PERP	4.3469	0.0409	pay 0.0051% / 1h	48m 02s	$1.7M	$3.2M	10x
Short	Phemex NEARUSDT	4.3530	0.0100	get 0.0100% / 8h	48m 02s	$3.6M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee PhemexbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$64.85
Price spread: +0.139% → +0.024%: $11.47
Slippage, 4 orders: −$30.43
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$102.81
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Phemex: live order book, 6 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 Nado live order book, 1 min ago	0.34 bp	5.3 bp −$5	14.7 bp −$147	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	4.62 bp	18.0 bp −$18	41.2 bp −$412	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	4.3497	+0.064%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3507	+0.087%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3490	+0.046%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3492	+0.052%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.738%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3450	−0.045%	$106K	$492K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3442	−0.063%	$219.1M	$430.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3440	−0.068%	$61.0M	$292.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3597	+0.293%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3429	−0.093%	$35.4M	$61.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3460	−0.022%	$52.6M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3430	−0.091%	$71.9M	$128.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3467	−0.007%	$8.6M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3475	+0.013%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3486	+0.039%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.070%	$164K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3504	+0.079%	$282K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3524	+0.125%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3560	+0.208%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3520	+0.116%	$5K	$53K	10x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3530	+0.139%	$3.6M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3522	+0.120%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3407	−0.143%	$3.6M	$17.5M	25x	as long as short
HTX NEAR-USDT	+0.0104%	8h	4.3600	+0.300%	$454K	$3.8M	75x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3530	+0.139%	$202K	$38K	3x	as long as short
BingX NEAR-USDC	+0.0204%	8h	4.3410	−0.137%	—	$6.6M	—	as long as short
Kalshi KXNEARPERP	+0.0205%	8h	4.3489	+0.045%	$956K	$25.2M	2.2x	as long as short
MEXC NEAR_USDT	+0.0216%	8h	4.3440	−0.068%	$80.5M	$149.1M	200x	as long as short
Binance NEARUSDT	+0.0217%	8h	4.3417	−0.121%	$263.3M	$1.09B	75x	as long as short
Aster NEARUSDT	+0.0232%	8h	4.3436	−0.077%	$2.7M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0202%	1h	4.3478	+0.019%	$233K	—	100x	as long as short
BloFin NEAR-USDT	+0.0337%	8h	4.3670	+0.461%	$13.4M	$32.2M	75x	as long as short
01 Exchange NEARUSD	+0.0360%	1h	4.3462	−0.017%	$13K	$7K	10x	as long as short
Nado NEAR-PERPlong	+0.0409%	1h	4.3469	long leg	$1.7M	$3.2M	10x
Hyperliquid NEAR	+0.0460%	1h	4.3533	+0.146%	$352.2M	$315.9M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3522	+0.121%	$2.3M	$16.9M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0505%	1h	4.3524	+0.125%	$1.2M	$6.9M	20x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3520	+0.116%	$229K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0664%	1h	4.3595	+0.289%	$1.5M	$6.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0715%	1h	4.3550	+0.185%	$1.9M	$13.0M	25x	as long as short
Lighter NEAR	+0.0856%	1h	4.3595	+0.290%	$17.2M	$24.9M	15x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3518	+0.111%	$410K	$1.5M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3382	−0.201%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3486	+0.038%	$637K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1301%	1h	4.3484	+0.034%	$5K	$7K	10x	as long as short