NIGHT / NEAR ratio and spread
1 NIGHT = 0.0079558 NEAR. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.293 and the correlation between the legs is 0.30.
If you hold NIGHT · If you hold NEAR
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Key numbers
over 206 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 NIGHT and NEAR 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 2.22 standard deviations above its rolling mean — NIGHT is expensive relative to NEAR by the standards of this window.
Reversion is slow: the spread needs roughly 35 days to cover half the way back to its mean. A position would have to be held for a long time.
The current ratio sits near the bottom of its range — only 7% of the way from the low to the high of the last 206 daily candles.
Frequently asked
How many NEAR is 1 NIGHT?
1 NIGHT is worth 0.00795577 NEAR at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the NIGHT/NEAR range?
Over the last 206 daily candles the ratio traded between 0.00507547 (26.09.2026) and 0.0449664 (28.03.2026).
Are NIGHT and NEAR correlated?
The correlation of daily log returns between NIGHT and NEAR 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 NIGHT/NEAR spread z-score now?
The z-score is 2.22 — 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 NIGHT/NEAR 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.