Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Phemex−0.060%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)−0.193%−$19 · spread now −0.060%, 7d avg −0.002%

Together, before fees−0.167%−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.058% cheaper against Phemex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2780	0.0100	pay 0.0100% / 8h	39m 43s	$3.9M	$8.4M	50x
Short	Binance NEARUSDT	4.2754	0.0100	get 0.0100% / 8h	39m 43s	$253.2M	$1.07B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.002%: −$5.75
Slippage, 4 orders: −$28.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$56.53
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 4 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 Phemex live order book, 4 min ago	5.87 bp	18.8 bp −$19	40.5 bp −$405	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.17 bp	8.3 bp −$8	11.9 bp −$119	28.8 bp −$2,877	103.2 bp −$51.6K

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	4.2775	−0.012%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2695	−0.199%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2743	−0.087%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2676	−0.243%	$393K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2792	+0.027%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.202%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0081%	8h	4.2712	−0.159%	$218.9M	$422.0M	75x	as long as short
Variational Omni NEAR	+0.0087%	8h	4.2660	−0.281%	$7.8M	$18.2M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2800	+0.047%	$109K	$496K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2721	−0.138%	$31K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2790	+0.023%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2702	−0.183%	$402K	$1.2M	10x	as long as short
Binance NEARUSDTshort	+0.0100%	8h	4.2754	−0.060%	$253.2M	$1.07B	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2710	−0.164%	$60.9M	$285.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2750	−0.070%	$202K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2674	−0.248%	$243K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2737	−0.101%	$30.1M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	−0.094%	$78.3M	$141.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	−0.023%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2736	−0.103%	$71.0M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2740	−0.094%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2703	−0.179%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2680	−0.234%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	−0.164%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2831	+0.119%	$199K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2787	+0.016%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2830	+0.117%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2760	−0.047%	$13K	$50K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2780	long leg	$3.9M	$8.4M	50x
Extended NEAR-USD	+0.0104%	1h	4.2717	−0.148%	$3.9M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2777	−0.008%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2788	+0.019%	$7.6M	$37.1M	50x	as long as short
01 Exchange NEARUSD	+0.0152%	1h	4.2809	+0.068%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2700	−0.187%	$13.0M	$30.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0313%	1h	4.2792	+0.028%	$274K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.2818	+0.089%	$1.5M	$7.0M	10x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2820	+0.093%	$413K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0437%	1h	4.2795	+0.035%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2717	−0.147%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0498%	1h	4.2822	+0.098%	$1.9M	$2.3M	25x	as long as short
Nado NEAR-PERP	+0.0766%	1h	4.2765	−0.035%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0857%	8h	4.2880	+0.234%	$459K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.0980%	1h	4.2803	+0.054%	$367.7M	$298.0M	10x	as long as short
Aftermath Perps NEARUSD	+0.1191%	1h	4.2806	+0.061%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.2879	+0.231%	$16.5M	$23.7M	15x	as long as short