Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0826%/8h= +90.4% APRpaid last 24h +0.140%

Price spread now: RISEx against Phemex+0.072%7-day average +0.035% · 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−$71as in the Price arb table

costs, in and out, $10k−$750.752% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.396%+$40 on $10k

Price spread, last 4 days (all we have)−0.512%−$51 · spread now +0.072%, 7d avg +0.035%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and RISEx is 0.037% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3940	0.0100	pay 0.0100% / 8h	4h 08m	$3.8M	$8.4M	50x
Short	RISEx NEAR/USDC	4.3972	0.0926	get 0.0116% / 1h	8m 24s	$591K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.072%Rate

Funding earned: $173.39
Price spread: +0.072% → +0.035%: $3.69
Slippage, 4 orders: −$57.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $101.9
Costs to cover: 0.752%
Break-even: 2.9 days

Slippage from Phemex: live order book, 6 min ago; RISEx: live order book, just now.

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, 6 min ago	5.65 bp	38.1 bp −$38	61.5 bp −$615	doesn't fit	doesn't fit
Sell RISEx live order book, just now	1.31 bp	4.3 bp −$4	10.7 bp −$107	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	4.3857	−0.189%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3893	−0.107%	$2.2M	$15.6M	50x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3859	−0.184%	$617K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3838	−0.232%	$164K	—	150x	as long as short
dYdX NEAR-USD	+0.0008%	1h	4.3906	−0.077%	$108K	$69K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.758%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3890	−0.114%	$113K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3940	−0.001%	$418K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3930	−0.023%	$270.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3880	−0.137%	$220.9M	$423.8M	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	4.3880	−0.137%	$62.8M	$296.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	+0.260%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3921	−0.043%	$32.0M	$64.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3880	−0.137%	$73.8M	$150.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3910	−0.068%	$54.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3860	−0.182%	$72.1M	$130.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3840	−0.228%	—	$146.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4067	+0.289%	$8.5M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4083	+0.325%	$264K	$962K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4010	+0.160%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4090	+0.341%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3890	−0.114%	$243K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3931	−0.020%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3990	+0.114%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4020	+0.182%	$456K	$4.0M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3940	long leg	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3940	+0.001%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3902	−0.087%	$204K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0183%	1h	4.3855	−0.193%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3910	−0.068%	$13.7M	$32.5M	75x	as long as short
Aster NEARUSDT	+0.0305%	8h	4.3910	−0.068%	$2.9M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0190%	1h	4.3828	−0.255%	$233K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0335%	1h	4.3911	−0.066%	$1.3M	$6.4M	20x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.3938	−0.005%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0390%	1h	4.3930	−0.023%	$362.2M	$319.8M	10x	as long as short
Extended NEAR-USD	+0.0472%	1h	4.3929	−0.025%	$3.9M	$19.6M	25x	as long as short
Nado NEAR-PERP	+0.0565%	1h	4.3899	−0.093%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4000	+0.137%	$217K	$1.7M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0592%	1h	4.3883	−0.130%	$8.0M	$39.7M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.3979	+0.089%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0775%	1h	4.3939	−0.002%	$2.0M	$7.3M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4000	+0.137%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDCshort	+0.0926%	1h	4.3972	+0.072%	$591K	$1.4M	10x
Lighter NEAR	+0.1032%	1h	4.3998	+0.132%	$17.7M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1604%	1h	4.4008	+0.156%	$5K	$12K	10x	as long as short