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: KuCoin against Phemex−0.023%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.498%−$50 · spread now −0.023%, 7d avg +0.020%

Together, before fees−0.468%−$47 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: KuCoin is 0.043% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4150	0.0100	pay 0.0100% / 8h	4h 11m	$3.8M	$8.4M	50x
Short	KuCoin NEARUSDTM	4.4140	0.0100	get 0.0100% / 8h	4h 11m	$54.9M	$46.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.020%: −$4.27
Slippage, 4 orders: −$80.61
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$108.87
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 7 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, 2 min ago	5.65 bp	38.1 bp −$38	61.5 bp −$615	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.26 bp	20.0 bp −$20	37.0 bp −$370	101.6 bp −$10.2K	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	4.4071	−0.179%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4127	−0.052%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4091	−0.134%	$109K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4155	+0.011%	$620K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4078	−0.162%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.206%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4150	0.000%	$113K	$517K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4135	−0.034%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4144	−0.013%	$272.0M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4080	−0.159%	$222.0M	$424.1M	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	4.4060	−0.204%	$63.0M	$297.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	−0.217%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4065	−0.193%	$32.1M	$64.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4130	−0.045%	$75.0M	$150.1M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4140	−0.023%	$54.9M	$46.2M	75x
Bitget NEARUSDT	+0.0100%	8h	4.4081	−0.156%	$72.4M	$130.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4090	−0.136%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4137	−0.029%	$8.6M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4159	+0.020%	$265K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4070	−0.181%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4090	−0.136%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4132	−0.041%	$244K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4109	−0.093%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4170	+0.045%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	+0.068%	$457K	$4.0M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4150	long leg	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4085	−0.147%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4130	−0.046%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0176%	1h	4.4080	−0.159%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4170	+0.045%	$13.8M	$32.8M	75x	as long as short
Aster NEARUSDT	+0.0310%	8h	4.4145	−0.012%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4080	−0.158%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0335%	1h	4.4145	−0.011%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0344%	1h	4.4205	+0.125%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0381%	1h	4.4157	+0.015%	$364.2M	$325.0M	10x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.4066	−0.191%	$3.9M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0549%	1h	4.4065	−0.193%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4150	0.000%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4107	−0.097%	$8.1M	$39.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0612%	1h	4.4110	−0.091%	$2.0M	$7.3M	25x	as long as short
Lighter RH NEAR	+0.0688%	1h	4.4187	+0.084%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4173	+0.052%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4150	−0.001%	$593K	$1.4M	10x	as long as short
Lighter NEAR	+0.0976%	1h	4.4203	+0.120%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1577%	1h	4.4148	−0.005%	$5K	$12K	10x	as long as short