Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Phemex−0.217%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$650.655% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.217%, 7d avg −0.008%

Together, before fees+0.233%+ Points / potential airdropedgeX: Active · farm board+$23 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: edgeX is 0.209% cheaper against Phemex than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4600	0.0100	pay 0.0100% / 8h	1h 51m	$3.7M	$8.3M	50x
Short	edgeX NEARUSDC	4.4503	0.0100	get 0.0050% / 4h	1h 51m	$260K	$964K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.217%Rate

Funding earned: $0
Price spread: −0.217% → −0.008%: −$20.91
Slippage, 4 orders: −$44.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$86.38
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; edgeX: live order book, 48 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, 3 min ago	5.63 bp	20.8 bp −$21	49.7 bp −$497	doesn't fit	doesn't fit
Sell edgeX live order book, 48 min ago	6.99 bp	11.9 bp −$12	26.2 bp −$262	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	4.4486	−0.256%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4467	−0.297%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4497	−0.231%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.152%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4480	−0.269%	$114K	$495K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4710	+0.247%	$228.5M	$424.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4700	+0.224%	$62.8M	$297.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.524%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4627	+0.061%	$34.7M	$59.8M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4660	+0.135%	$53.8M	$45.8M	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	4.4696	+0.215%	$74.0M	$126.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4407	−0.432%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.4503	−0.217%	$260K	$964K	20x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4491	−0.244%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4565	−0.078%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4580	−0.045%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4680	+0.179%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4600	long leg	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4489	−0.248%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4474	−0.281%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4584	−0.036%	$207K	$40K	3x	as long as short
ApeX Omni NEARUSDT	+0.0132%	1h	4.4470	−0.291%	$168K	$803K	50x	as long as short
BingX NEAR-USDC	+0.0154%	8h	4.4650	+0.112%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0167%	8h	4.4640	+0.090%	$85.4M	$144.3M	200x	as long as short
Binance NEARUSDT	+0.0170%	8h	4.4700	+0.223%	$270.7M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0288%	1h	4.4562	−0.085%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0290%	8h	4.4590	−0.022%	$13.6M	$32.9M	75x	as long as short
Kalshi KXNEARPERP	+0.0303%	8h	4.4427	−0.388%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4498	−0.228%	$238K	—	100x	as long as short
Aster NEARUSDT	+0.0341%	8h	4.4670	+0.157%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4684	+0.188%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4543	−0.128%	$2.3M	$16.4M	50x	as long as short
01 Exchange NEARUSD	+0.0504%	1h	4.4529	−0.159%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0533%	1h	4.4465	−0.303%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0575%	1h	4.4664	+0.143%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0655%	1h	4.4561	−0.087%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0724%	1h	4.4698	+0.220%	$367.7M	$306.9M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4520	−0.179%	$226K	$1.6M	10x	as long as short
Lighter NEAR	+0.0920%	1h	4.4691	+0.204%	$17.5M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	−0.249%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1040%	1h	4.4623	+0.052%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4495	−0.235%	$409K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1200%	1h	4.4395	−0.459%	$6K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1232%	1h	4.4587	−0.029%	$1.9M	$12.2M	25x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4503	−0.218%	$680K	$1.4M	10x	as long as short