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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Phemex−0.135%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$800.797% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now −0.135%, 7d avg −0.042%

Together, before fees−0.012%−$1 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: Gate is 0.094% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4300	0.0100	pay 0.0100% / 8h	1h 19m	$3.6M	$8.2M	50x
Short	Gate NEAR_USDT	4.4240	0.0100	get 0.0100% / 8h	1h 19m	$35.7M	$61.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.135%Rate

Funding earned: $0
Price spread: −0.135% → −0.042%: −$9.37
Slippage, 4 orders: −$52.71
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$89.08
Costs to cover: 0.797%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Gate: 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	3.39 bp	28.1 bp −$28	55.4 bp −$554	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.15 bp	18.1 bp −$18	27.4 bp −$274	38.2 bp −$3,817	50.6 bp −$25.3K

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	4.4222	−0.175%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4208	−0.208%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4100	−0.452%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.524%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4220	−0.181%	$112K	$485K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4209	−0.205%	$224.0M	$429.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4190	−0.248%	$62.6M	$295.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4150	−0.339%	$252K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.4240	−0.135%	$35.7M	$61.9M	75x
KuCoin NEARUSDTM	+0.0100%	8h	4.4240	−0.135%	$53.5M	$45.9M	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	4.4228	−0.163%	$72.8M	$127.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4097	−0.458%	$8.8M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4205	−0.215%	$258K	$916K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4210	−0.203%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4263	−0.084%	$292K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4285	−0.034%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	−0.135%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4370	+0.158%	$464K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4300	long leg	$3.6M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4195	−0.236%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0110%	8h	4.4181	−0.268%	$1.5M	$1.5M	10x	as long as short
Extended NEAR-USD	+0.0136%	1h	4.4230	−0.157%	$3.7M	$18.2M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.4310	+0.023%	$206K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0171%	1h	4.4285	−0.034%	$5K	$52K	10x	as long as short
BingX NEAR-USDT	+0.0198%	8h	4.4240	−0.135%	—	$144.1M	—	as long as short
MEXC NEAR_USDT	+0.0210%	8h	4.4240	−0.135%	$80.1M	$149.3M	200x	as long as short
Binance NEARUSDT	+0.0210%	8h	4.4250	−0.113%	$269.9M	$1.08B	75x	as long as short
Kalshi KXNEARPERP	+0.0248%	8h	4.4202	−0.221%	$1.0M	$24.9M	2.2x	as long as short
Aster NEARUSDT	+0.0297%	8h	4.4240	−0.135%	$2.8M	$4.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0199%	1h	4.4243	−0.128%	$235K	—	100x	as long as short
BloFin NEAR-USDT	+0.0331%	8h	4.4150	−0.339%	$13.7M	$32.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4197	−0.233%	$2.3M	$16.7M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0427%	1h	4.4281	−0.043%	$1.3M	$6.9M	20x	as long as short
01 Exchange NEARUSD	+0.0448%	1h	4.4255	−0.102%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0501%	1h	4.4306	+0.014%	$361.7M	$313.1M	10x	as long as short
Nado NEAR-PERP	+0.0558%	1h	4.4210	−0.203%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4261	−0.088%	$7.3M	$38.2M	50x	as long as short
Lighter NEAR	+0.0800%	1h	4.4280	−0.046%	$17.4M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4280	−0.045%	$228K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.4297	−0.007%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4318	+0.041%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1038%	1h	4.4315	+0.034%	$1.9M	$13.0M	25x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4242	−0.130%	$422K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4265	−0.078%	$671K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1299%	1h	4.4235	−0.147%	$5K	$12K	10x	as long as short