Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0486%/8h= −53.2% APRpaid last 24h −0.041%

Price spread now: Gate against Deribit−0.081%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.334%−$33 on $10k

Price spread, last 3 days (all we have)−0.221%−$22 · spread now −0.081%, 7d avg −0.092%

Together, before fees−0.555%−$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.334% in total (about -17.4% 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	4.1881	0.0586	pay 0.0073% / 1h	35m 02s	$1.8M	$2.1M	25x
Short	Gate NEAR_USDT	4.1847	0.0100	get 0.0100% / 8h	1h 35m	$30.0M	$57.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$102.06
Price spread: −0.081% → −0.092%: $1.06
Slippage, 4 orders: −$22.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.45
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Gate: 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	1.93 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.96 bp	15.7 bp −$16	23.6 bp −$236	41.3 bp −$4,135	59.2 bp −$29.6K

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	4.1765	−0.276%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1813	−0.162%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.125%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1675	−0.493%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1804	−0.184%	$431K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1823	−0.138%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1871	−0.024%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.1832	−0.117%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1889	+0.019%	$1.5M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1810	−0.170%	$112K	$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	4.1844	−0.088%	$54K	$156K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1676	−0.490%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1890	+0.021%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1716	−0.394%	$361K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1820	−0.146%	$239.1M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1800	−0.193%	$213.0M	$422.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1800	−0.193%	$57.4M	$276.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1790	−0.217%	$309K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1500	−0.910%	$236K	$4K	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.1847	−0.081%	$30.0M	$57.3M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.1860	−0.050%	$82.6M	$141.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1870	−0.026%	$55.2M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1807	−0.177%	$69.5M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1840	−0.098%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1530	−0.838%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1507	−0.894%	$237K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1549	−0.792%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1510	−0.886%	$182K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1836	−0.107%	$208K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1880	−0.002%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1835	−0.110%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1840	−0.098%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1801	−0.190%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1835	−0.110%	$201K	$62K	3x	as long as short
Lighter NEAR	+0.0208%	1h	4.1900	+0.046%	$16.0M	$23.2M	15x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1830	−0.122%	$12.3M	$33.5M	75x	as long as short
Hyperliquid NEAR	+0.0292%	1h	4.1894	+0.031%	$353.4M	$298.4M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1819	−0.148%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1811	−0.167%	$282K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0434%	1h	4.1908	+0.064%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1571	−0.740%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0553%	1h	4.1815	−0.158%	$1.8M	$3.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0586%	1h	4.1881	long leg	$1.8M	$2.1M	25x
Aftermath Perps NEARUSD	+0.0810%	1h	4.1579	−0.722%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0989%	8h	4.1960	+0.189%	$450K	$3.6M	75x	as long as short