Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0714%/8h= −78.2% APRpaid last 24h −0.008%

Price spread now: MEXC against Pacifica+0.265%45s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$250.251% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 7 days−0.234%−$23 · spread now +0.265%, 7d avg −0.019%

Together, before fees−0.307%+ Points / potential airdropPacifica: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.283% dearer against Pacifica than usual: you sell high and buy low (spread +0.265% now, against its 7-day average of −0.019%): +$28 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.074% in total) that is about 27 days. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.074% in total (about -3.8% 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	Pacifica NEAR	4.4123	0.0847	pay 0.0106% / 1h	5m 53s	$404K	$1.4M	10x
Short	MEXC NEAR_USDT	4.4240	0.0133	get 0.0133% / 8h	2h 05m	$84.0M	$146.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. 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 PacificabpFee MEXCbpOrdersPrice spread, now +0.265%Rate

Funding earned: −$149.88
Price spread: +0.265% → −0.019%: $28.33
Slippage, 4 orders: −$17.09
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$146.64
Costs to cover: 0.251%
Break-even: from the start

Slippage from Pacifica: live order book, 3 min ago; MEXC: 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 Pacifica live order book, 3 min ago	2.39 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.14 bp	1.1 bp −$1	2.2 bp −$22	46.8 bp −$4,678	90.2 bp −$45.1K

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	4.4160	+0.083%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4071	−0.119%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4179	+0.126%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.149%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4210	+0.197%	$117K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4189	+0.149%	$222.1M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4170	+0.106%	$62.5M	$294.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.412%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4193	+0.158%	$33.7M	$61.2M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4250	+0.287%	$53.3M	$46.0M	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	4.4165	+0.095%	$72.9M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4197	+0.168%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3652	−1.068%	$255K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4201	+0.176%	$284K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4225	+0.231%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4270	+0.333%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	+0.491%	$478K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4200	+0.174%	$3.6M	$8.3M	50x	as long as short
GRVT NEAR_USDT_Perp	+0.0102%	8h	4.3673	−1.019%	$1.4M	$1.5M	10x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4109	−0.032%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4265	+0.321%	$206K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0116%	8h	4.4210	+0.197%	—	$6.7M	—	as long as short
MEXC NEAR_USDTshort	+0.0133%	8h	4.4240	+0.265%	$84.0M	$146.6M	200x
Binance NEARUSDT	+0.0137%	8h	4.4230	+0.242%	$268.8M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0253%	8h	4.4130	+0.015%	$13.3M	$32.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4274	+0.342%	$2.3M	$16.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4184	+0.137%	$236K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0314%	8h	4.4057	−0.150%	$1.0M	$24.7M	2.2x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.4259	+0.308%	$2.9M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0387%	1h	4.4165	+0.095%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0417%	1h	4.3640	−1.095%	$167K	$796K	50x	as long as short
Extended NEAR-USD	+0.0464%	1h	4.4208	+0.191%	$3.7M	$19.3M	25x	as long as short
SoDEX NEAR-USD	+0.0508%	1h	4.4205	+0.185%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0677%	1h	4.4227	+0.235%	$363.8M	$311.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0699%	1h	4.4272	+0.337%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0712%	1h	4.4290	+0.378%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0716%	1h	4.4197	+0.167%	$7.4M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4200	+0.174%	$229K	$1.6M	10x	as long as short
Pacifica NEARlong	+0.0847%	1h	4.4123	long leg	$404K	$1.4M	10x
Lighter NEAR	+0.0912%	1h	4.4279	+0.352%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3931	−0.436%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.4265	+0.321%	$1.5M	$7.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.4213	+0.204%	$708K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1248%	1h	4.3733	−0.885%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.2919%	1h	4.4314	+0.432%	$2.0M	$12.0M	25x	as long as short