Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.042%

Price spread now: Deribit against BingX+0.140%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 3 days (all we have)+0.387%+$39 · spread now +0.140%, 7d avg +0.080%

Together, before fees+0.776%+$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.060% dearer against BingX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDC	4.1450	0.0100	pay 0.0100% / 8h	2h 25m	—	$6.6M	—
Short	Deribit NEAR_USDC-PERPETUAL	4.1508	0.0160	get 0.0020% / 1h	25m 41s	$1.8M	$2.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.140%Rate

Funding earned: $12.6
Price spread: +0.140% → +0.080%: $6.03
Slippage, 4 orders: −$24.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.02
Costs to cover: 0.416%
Break-even: 19.8 days

Slippage from BingX: live order book, 6 min ago; Deribit: live order book, 3 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 BingX live order book, 6 min ago	1.20 bp	16.1 bp −$16	25.1 bp −$251	63.8 bp −$6,382	448.7 bp −$224.4K
Sell Deribit live order book, 3 min ago	4.21 bp	7.9 bp −$8	13.0 bp −$130	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	4.1399	−0.124%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1456	+0.014%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1468	+0.044%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1403	−0.113%	$412K	$19.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1455	+0.013%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.0730	−1.737%	$569	$239K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1460	+0.024%	$109K	$490K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1451	+0.003%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1475	+0.061%	$2.9M	$5.9M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1473	+0.056%	$367K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.1459	+0.021%	$236.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1440	−0.024%	$210.9M	$428.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1440	−0.024%	$56.6M	$277.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1550	+0.241%	$237K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1460	+0.024%	$29.5M	$58.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1470	+0.048%	$81.3M	$143.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1500	+0.121%	$56.1M	$45.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1449	−0.002%	$69.0M	$127.3M	75x	as long as short
BingX NEAR-USDClong	+0.0100%	8h	4.1450	long leg	—	$6.6M	—
Variational Omni NEAR	+0.0100%	8h	4.1573	+0.297%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1419	−0.076%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1420	−0.072%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1420	−0.072%	$182K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1441	−0.022%	$200K	$3.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1480	+0.072%	$53K	$159K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1470	+0.048%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1465	+0.036%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1470	+0.048%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1444	−0.015%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1475	+0.060%	$201K	$65K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1480	+0.072%	$307K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0149%	1h	4.1485	+0.086%	$7.1M	$36.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0160%	1h	4.1508	+0.140%	$1.8M	$2.1M	25x
01 Exchange NEARUSD	+0.0216%	1h	4.1485	+0.084%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1390	−0.145%	$12.3M	$33.8M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.1525	+0.181%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0344%	1h	4.1409	−0.100%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0373% / S −0.0317%	1h	4.1437	−0.031%	$273K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1482	+0.076%	$414K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1501	+0.123%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0785%	1h	4.1526	+0.183%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0832%	1h	4.1552	+0.246%	$15.5M	$22.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.0975%	1h	4.1464	+0.034%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1024%	1h	4.1533	+0.200%	$349.3M	$301.9M	10x	as long as short
HTX NEAR-USDT	+0.1111%	8h	4.1560	+0.265%	$447K	$3.7M	75x	as long as short