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 +0.012%

Price spread now: Phemex against Variational Omni+0.006%7-day average +0.014% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.211%−$21 · spread now +0.006%, 7d avg +0.014%

Together, before fees−0.199%+ Points / potential airdropVariational Omni: Active · farm board−$20 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NEAR	4.4197	0.0100	pay 0.0100% / 8h	2h 05m	$8.9M	$18.4M	—
Short	Phemex NEARUSDT	4.4200	0.0100	get 0.0100% / 8h	2h 05m	$3.6M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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 Variational OmnibpFee PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → +0.014%: −$0.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$12.78
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phemex: live order book, 3 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	3.85 bp	doesn't fit	12.2 bp −$122	34.5 bp −$3,445	doesn't fit
Sell Phemex live order book, 3 min ago	4.56 bp	17.5 bp −$18	43.1 bp −$431	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	4.4160	−0.085%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4071	−0.287%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4179	−0.042%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.306%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4210	+0.029%	$117K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4189	−0.019%	$222.1M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4170	−0.062%	$62.5M	$294.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.578%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4193	−0.010%	$33.7M	$61.2M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4250	+0.119%	$53.3M	$46.0M	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	4.4165	−0.073%	$72.9M	$127.1M	75x	as long as short
Variational Omni NEARlong	+0.0100%	8h	4.4197	long leg	$8.9M	$18.4M	—
edgeX NEARUSDC	+0.0100%	4h	4.3652	−1.234%	$255K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4201	+0.008%	$284K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4225	+0.063%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4270	+0.165%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	+0.323%	$478K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4200	+0.006%	$3.6M	$8.3M	50x
GRVT NEAR_USDT_Perp	+0.0102%	8h	4.3673	−1.185%	$1.4M	$1.5M	10x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4109	−0.200%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4265	+0.153%	$206K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0116%	8h	4.4210	+0.029%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0133%	8h	4.4240	+0.097%	$84.0M	$146.6M	200x	as long as short
Binance NEARUSDT	+0.0137%	8h	4.4230	+0.074%	$268.8M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0253%	8h	4.4130	−0.152%	$13.3M	$32.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4274	+0.174%	$2.3M	$16.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4184	−0.031%	$236K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0314%	8h	4.4057	−0.317%	$1.0M	$24.7M	2.2x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.4259	+0.140%	$2.9M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0387%	1h	4.4165	−0.073%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0417%	1h	4.3640	−1.261%	$167K	$796K	50x	as long as short
Extended NEAR-USD	+0.0464%	1h	4.4208	+0.023%	$3.7M	$19.3M	25x	as long as short
SoDEX NEAR-USD	+0.0508%	1h	4.4205	+0.017%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0677%	1h	4.4227	+0.067%	$363.8M	$311.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0699%	1h	4.4272	+0.169%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0712%	1h	4.4290	+0.210%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0716%	1h	4.4197	−0.001%	$7.4M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4200	+0.006%	$229K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4123	−0.168%	$404K	$1.4M	10x	as long as short
Lighter NEAR	+0.0912%	1h	4.4279	+0.184%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3931	−0.602%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.4265	+0.153%	$1.5M	$7.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.4213	+0.036%	$708K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1248%	1h	4.3733	−1.051%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.2919%	1h	4.4314	+0.264%	$2.0M	$12.0M	25x	as long as short