NEAR / NIGHT ratio and spread
1 NEAR = 125.58 NIGHT. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.351 and the correlation between the legs is 0.30.
If you hold NEAR · If you hold NIGHT
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Key numbers
over 205 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The fitted hedge ratio is negative: over the window NEAR and NIGHT moved in opposite directions. A pair trade assumes the legs move together, so this combination does not qualify as one.
The spread currently sits at 3.65 standard deviations above its rolling mean — NEAR is expensive relative to NIGHT by the standards of this window.
The spread has not shown mean reversion over the sample: estimates longer than the available history are discarded rather than reported. Trading this pair on reversion has no statistical footing here.
The current ratio sits mid-range — 59% of the way from the low to the high of the last 205 daily candles.
Frequently asked
How many NIGHT is 1 NEAR?
1 NEAR is worth 125.581 NIGHT at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the NEAR/NIGHT range?
Over the last 205 daily candles the ratio traded between 22.2388 (28.03.2026) and 197.026 (26.09.2026).
Are NEAR and NIGHT correlated?
The correlation of daily log returns between NEAR and NIGHT is 0.30, which counts as a weak link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the NEAR/NIGHT spread z-score now?
The z-score is 3.65 — the spread is stretched beyond two standard deviations. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is NEAR/NIGHT suitable for a pair trade?
No. The fitted hedge ratio is negative, meaning the legs moved in opposite directions over the window — the market-neutral construction that pair trading relies on does not hold here.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.