Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0923%/8h= −101.1% APRpaid last 24h −0.042%

Price spread now: BloFin against Deribit0.000%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now 0.000%, 7d avg −0.065%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.065% dearer against Deribit than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.065%): +$7 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.162% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.162% in total (about -8.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.3140	0.1143	pay 0.0143% / 1h	35m 03s	$2.0M	$11.0M	25x
Short	BloFin NEAR-USDT	4.3140	0.0220	get 0.0220% / 8h	2h 35m	$13.3M	$31.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$193.83
Price spread: 0.000% → −0.065%: $6.52
Slippage, 4 orders: −$19.16
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$225.47
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; BloFin: live order book, 4 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 Deribit live order book, 4 min ago	5.25 bp	8.8 bp −$9	249.4 bp −$2,494	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	3.50 bp	10.1 bp −$10	15.1 bp −$151	29.7 bp −$2,968	67.2 bp −$33.6K

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	4.3095	−0.104%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3083	−0.133%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3077	−0.146%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.010%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3120	−0.046%	$113K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3070	−0.162%	$263.2M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3057	−0.192%	$214.2M	$420.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3070	−0.162%	$60.6M	$285.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2850	−0.672%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3072	−0.158%	$32.4M	$59.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.3130	−0.023%	$73.3M	$143.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3120	−0.046%	$52.0M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3071	−0.160%	$71.2M	$127.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3080	−0.139%	—	$143.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2998	−0.328%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2986	−0.356%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2990	−0.348%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3133	−0.016%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3129	−0.025%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3190	+0.116%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	+0.139%	$464K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3120	−0.046%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3096	−0.102%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3140	0.000%	$201K	$37K	3x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.3140	0.000%	$13.3M	$31.8M	75x
Kalshi KXNEARPERP	+0.0250%	8h	4.3101	−0.090%	$858K	$24.5M	2.2x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3140	0.000%	$2.3M	$15.9M	50x	as long as short
ApeX Omni NEARUSDT	+0.0281%	1h	4.2980	−0.371%	$165K	$794K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.3076	−0.147%	$233K	—	100x	as long as short
Aster NEARUSDT	+0.0337%	8h	4.3054	−0.200%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0344%	1h	4.3103	−0.085%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.3098	−0.098%	$3.7M	$19.8M	25x	as long as short
SoDEX NEAR-USD	+0.0604%	1h	4.3105	−0.081%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0660%	1h	4.3120	−0.046%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0715%	1h	4.3119	−0.049%	$352.3M	$310.0M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0734%	1h	4.3110	−0.069%	$7.5M	$38.7M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3182	+0.097%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3140	0.000%	$217K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3110	−0.069%	$395K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.3168	+0.066%	$16.9M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3144	+0.009%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.3168	+0.065%	$1.5M	$7.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.1143%	1h	4.3140	long leg	$2.0M	$11.0M	25x
RISEx NEAR/USDC	+0.1220%	1h	4.3142	+0.004%	$694K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1397%	1h	4.2915	−0.522%	$5K	$12K	10x	as long as short