Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Phemex+0.093%7-day average −0.009% · 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−$315as in the Price arb table

costs, in and out, $10k−$3253.248% of the position

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.093%, 7d avg −0.009%

Together, before fees−0.165%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.102% dearer against Phemex than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.009%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3520	0.0100	pay 0.0100% / 8h	5h 46m	$3.8M	$8.1M	50x
Short	gTrade (Gains Network) NEAR/USD	4.3560	L +0.0004% / S −0.0004%	get 0.0001% / 1h	46m 18s	$197K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.093%Rate

Funding earned: −$20.14
Price spread: +0.093% → −0.009%: $10.22
Slippage, 4 orders: −$302.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$334.75
Costs to cover: 3.248%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 18 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	8.01 bp	17.9 bp −$18	38.2 bp −$382	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 18 min ago	130.01 bp	137.7 bp −$138	1007.8 bp −$10.1K	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	4.3545	+0.057%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3530	+0.023%	$2.2M	$14.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3472	−0.110%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3608	+0.202%	$567K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USDshort	L +0.0004% / S −0.0004%	1h	4.3560	+0.093%	$197K	—	150x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.848%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3540	+0.046%	$114K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3470	−0.115%	$410K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3550	+0.069%	$264.8M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3520	0.000%	$219.5M	$416.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3480	−0.092%	$62.1M	$287.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	+0.315%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3571	+0.117%	$31.4M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3530	+0.023%	$75.0M	$140.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3530	+0.023%	$54.7M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3486	−0.078%	$71.4M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3580	+0.138%	—	$144.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.934%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3629	+0.250%	$262K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+0.896%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3590	+0.161%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3592	+0.165%	$60K	$191K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3630	+0.253%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3550	+0.069%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3690	+0.391%	$457K	$3.8M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3520	long leg	$3.8M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3468	−0.119%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3548	+0.063%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3585	+0.149%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0194%	8h	4.3566	+0.106%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3510	−0.023%	—	$30.3M	75x	as long as short
ApeX Omni NEARUSDT	+0.0231%	1h	4.3580	+0.138%	$194K	$778K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0348% / S −0.0244%	1h	4.3562	+0.096%	$255K	—	100x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.3525	+0.011%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3530	+0.023%	$207K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0411%	1h	4.3525	+0.011%	$1.9M	$3.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0666%	1h	4.3649	+0.296%	$1.5M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0707%	1h	4.3564	+0.100%	$8.1M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0712%	1h	4.3582	+0.142%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0745%	1h	4.3609	+0.205%	$367.1M	$304.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0783%	1h	4.3623	+0.237%	$1.9M	$4.3M	25x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3669	+0.342%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3530	+0.023%	$550K	$1.3M	10x	as long as short
Lighter NEAR	+0.1312%	1h	4.3615	+0.218%	$17.4M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1752%	1h	4.3691	+0.393%	$6K	$12K	10x	as long as short