Funding arb · Price arb / Crypto

NEAR

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LONGCoinbase International▾Phemex −0.0018%Orderly −0.0012%dYdX 0.0000%N1 0.0000%Kalshi 0.0000%Injective +0.0033%Extended +0.0040%Polymarket Perps +0.0048%Paradex +0.0092%Lighter RH +0.0096%Popdex +0.0096%Nado +0.0100%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Aevo +0.0104%Deribit +0.0121%Avantis +0.0146%Kraken Futures +0.0170%RISEx +0.0206%BloFin +0.0220%Phoenix +0.0237%GMX +0.0293%gTrade (Gains Network) +0.0417%Lighter +0.0432%Aftermath Perps +0.0576%Arcus +0.0749%Backpack +0.0811%Coinbase International +0.1888%

⇄⇅

SHORTBullet▾Backpack +0.0811%Arcus +0.0749%Aftermath Perps +0.0576%Lighter +0.0432%Phoenix +0.0237%gTrade (Gains Network) −0.0233%BloFin +0.0220%RISEx +0.0206%GMX −0.0197%Kraken Futures +0.0170%Deribit +0.0121%Aevo +0.0104%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%Bybit +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Nado +0.0100%Popdex +0.0096%Lighter RH +0.0096%Paradex +0.0092%Avantis −0.0056%Polymarket Perps +0.0048%Extended +0.0040%Injective +0.0033%dYdX 0.0000%N1 0.0000%Kalshi 0.0000%Orderly −0.0012%Phemex −0.0018%Bullet −0.0288%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Coinbase InternationalNEAR-PERP-INTX	5.1999	+0.1888	pay 0.0236% / 1h	47m 55s	$1.5M	$4.9M	50x	Long Coinbase International
SHORT	BulletNEAR-USD	5.1045	−0.0288	pay 0.0036% / 1h	47m 55s	$59K	$186K	20x	Short Bullet

Price gap−1.835%

Funding gap−0.2176% /8h

Both sides work against this direction now: funding costs $65 a day on $10k and the gap is 1.730% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 6 days it paid −0.257% in total, about −0.0139%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m

1h · loading 5m…

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

P&L?

PRICE SPREAD · 7D

Now−1.835%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Coinbase InternationalBullet

NEAR on 45 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

• !
  Watch: Large against open interest4.1 / 5.9 bp

  $10k is over 10% of Bullet’s open interest.
• i
  Note: Margin at max leverage$200 + $500

  Coinbase International 50x, Bullet 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Coinbase International · 1h−$56.64

  Short Bullet · 1h−$8.63

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$65.27Long Coinbase International: 24 payments, −$56.64; short Bullet: 24 payments, −$8.63.
• !
  Watch: Gap narrower than usual−1.835% vs −0.104%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$59K vs $1.5M OI

  Bullet sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• !
  Watch: KYCCoinbase International Yes · Bullet No

  ID and a suitability check; perps are for eligible non-US countries, not for US or UK retail.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0139%/8h × 21 periods−$29.11

Price spread−1.835% → −0.104% (7d avg)−$173.02

Slippage, 4 orderslive order books−$81.26

Fee Coinbase International bp × 2 orders−$8.00

Fee Bullet bp × 2 orders−$8.00

Net · 7 days · $10k−$299.38

Costs to cover0.973%Break-evennever at this rate

Slippage: Coinbase International: live order book, 5 min ago; Bullet: live order book, 35 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGCoinbase International0.104.1 bp−$4doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTBullet1.285.9 bp−$69.5 bp−$95doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

NEAR news

posts that mention NEAR, from every exchangeSearch all news →

09-30 02:45	MEXC	Other	Not NEAR anymore. It’s here. 👀 $NRR is officially trading on NYSE Arca. Continuation or sell the news? 🤔 @MEXC on X ↗
09-30 01:05	Reya	Listing	NEARRUSDPERP no longer reported ($NEAR) seen by our collector
09-29 11:00	Bulk	Listing	NEAR-USD no longer reported ($NEAR) seen by our collector
09-28 18:50	Aevo	Other	bitcoin:native is back near $83k after trading above $86k last week. Whether you trade the continuation or pullback, all options and this week’s Perp Majors count toward the volume requirement for our year-end reward. This week’s Perp Majors include: BTC, ETH, SOL, ZEC, NEAR, HYPE, LIT, SPY, QQQ, HOOD, SNDK, MU, NVDA, TSLA, GOOGL. @aevoxyz on X ↗
09-28 14:46	RISEx	Other	This week on RISEx Market Desk: Macro: A third central bank joins the hiking cycle, and Friday delivers the first jobs report since the Fed’s pivot Crypto: Solana’s biggest upgrade yet goes live, NEAR ETF clears key hurdles, and Zcash pulls off a 3-for-1 split. Equities: One trade, three tickers - Micron ($MU) reports after the close, with potential spillover to $SKHYNIX, $DRAM, and $SNDK Watching Friday closely. Trade well @risextrade on X ↗
09-28 03:00	MEXC	Other	NEAR enough to get interesting. 👀 ETF access is getting closer. Momentum holds or cools off? @MEXC on X ↗