Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.044%

Price spread now: Deribit against Bybit+0.019%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.357%+$36 on $10k

Price spread, last 3 days (all we have)+0.266%+$27 · spread now +0.019%, 7d avg +0.100%

Together, before fees+0.623%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.081% cheaper against Bybit than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.100%). If the spread goes back, that is −$8 on $10k: about 3.3 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.357% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.1676	0.0100	pay 0.0100% / 8h	1h 28m	$212.6M	$423.0M	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.1684	0.0182	get 0.0023% / 1h	28m 51s	$1.8M	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.019%Rate

Funding earned: $17.22
Price spread: +0.019% → +0.100%: −$8.13
Slippage, 4 orders: −$19.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$28.26
Costs to cover: 0.374%
Break-even: 18.5 days

Slippage from Bybit: live order book, 5 min ago; Deribit: 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 Bybit live order book, 5 min ago	1.20 bp	12.0 bp −$12	16.2 bp −$162	30.0 bp −$2,998	180.2 bp −$90.1K
Sell Deribit live order book, just now	4.92 bp	8.4 bp −$8	14.6 bp −$146	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	4.1631	−0.108%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1657	−0.046%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.638%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1629	−0.113%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1669	−0.017%	$429K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1662	−0.032%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1682	+0.014%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1684	+0.019%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0096%	1h	4.1707	+0.074%	$12K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1680	+0.010%	$111K	$482K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1653	−0.055%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1676	+0.001%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1675	−0.002%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1696	+0.049%	$360K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1640	−0.086%	$238.5M	$1.07B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.1676	long leg	$212.6M	$423.0M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1610	−0.158%	$57.4M	$275.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1680	+0.010%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1638	−0.091%	$29.8M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1630	−0.110%	$81.8M	$141.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1660	−0.038%	$54.9M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1618	−0.139%	$68.9M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1630	−0.110%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.063%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.197%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1588	−0.211%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	+0.130%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1689	+0.031%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1730	+0.130%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1650	−0.062%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1660	−0.038%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.182%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1609	−0.160%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1648	−0.066%	$201K	$62K	3x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0182%	1h	4.1684	+0.019%	$1.8M	$2.2M	25x
BloFin NEAR-USDT	+0.0220%	8h	4.1650	−0.062%	$12.3M	$31.6M	75x	as long as short
Hyperliquid NEAR	+0.0342%	1h	4.1697	+0.050%	$352.1M	$298.9M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1701	+0.060%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1656	−0.048%	$281K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0433%	1h	4.1698	+0.053%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.298%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0545%	1h	4.1660	−0.038%	$1.8M	$3.5M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.1725	+0.117%	$15.9M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0859%	1h	4.1720	+0.105%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0972%	8h	4.1770	+0.226%	$447K	$3.6M	75x	as long as short