NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0928%/8h= +101.7% APRnext payment +$1.16 per $10,000 · paid last 24h +0.137%

Price spread now: Hyperliquid against Deribit+0.095%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)−0.206%−$21 · spread now +0.095%, 7d avg +0.060%

Together, before fees−0.169%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Hyperliquid is 0.035% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.060%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.038% in total (about 2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.16 per $10,000. 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	4.3223	0.0653	pay 0.0082% / 1h	56m 53s	$1.9M	$2.3M	25x
Short	Hyperliquid NEAR	4.3264	0.1581	get 0.0198% / 1h	56m 53s	$373.7M	$299.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.095%Rate

Funding earned: $194.95
Price spread: +0.095% → +0.060%: $3.47
Slippage, 4 orders: −$18.36
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $164.06
Costs to cover: 0.344%
Break-even: 1.1 days

Slippage from Deribit: live order book, 2 min ago; Hyperliquid: live order book, 7 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, 2 min ago	4.53 bp	8.0 bp −$8	23.0 bp −$230	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.28 bp	6.2 bp −$6	9.3 bp −$93	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	4.3202	−0.049%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.3191	−0.074%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3229	+0.013%	$112K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3218	−0.012%	$413K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3193	−0.070%	$208K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.195%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3230	+0.016%	$107K	$494K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3226	+0.007%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3219	−0.008%	$3.1M	$5.6M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3243	+0.047%	$406K	$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	4.3170	−0.123%	$252.7M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3140	−0.192%	$222.3M	$420.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3160	−0.146%	$61.4M	$287.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3230	+0.016%	$199K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3063	−0.371%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3173	−0.116%	$30.6M	$58.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3160	−0.146%	$82.2M	$138.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3180	−0.099%	$56.6M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3151	−0.167%	$71.8M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3160	−0.146%	—	$137.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3069	−0.356%	$8.0M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3096	−0.295%	$269K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3088	−0.313%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3140	−0.192%	$180K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3252	+0.067%	$215K	$3.3M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3157	−0.153%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3220	−0.007%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3173	−0.116%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3190	−0.076%	$4.0M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3148	−0.174%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3175	−0.110%	$208K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0117%	1h	4.3203	−0.046%	$7.6M	$36.8M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3210	−0.030%	$12.9M	$32.6M	75x	as long as short
Lighter RH NEAR	+0.0224%	1h	4.3248	+0.058%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0256%	1h	4.3275	+0.120%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0392% / S −0.0343%	1h	4.3202	−0.049%	$293K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.3253	+0.070%	$417K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.3220	−0.007%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0598%	1h	4.3222	−0.002%	$1.3M	$5.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0653%	1h	4.3223	long leg	$1.9M	$2.3M	25x
Nado NEAR-PERP	+0.0680%	1h	4.3209	−0.031%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0915%	8h	4.3340	+0.271%	$462K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.1110%	1h	4.3048	−0.404%	$5K	$11K	10x	as long as short
Hyperliquid NEARshort	+0.1581%	1h	4.3264	+0.095%	$373.7M	$299.6M	10x
Lighter NEAR	+0.1992%	1h	4.3312	+0.206%	$16.6M	$23.5M	15x	as long as short