Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.042%

Price spread now: OKX against Deribit−0.046%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 3 days (all we have)−0.384%−$38 · spread now −0.046%, 7d avg −0.100%

Together, before fees−0.696%−$70 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.054% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.100%. Mind the row above: over the last 7 days funding on this pair cost −0.312%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.1229	0	get 0.0000% / 1h	7m 03s	$1.8M	$2.1M	25x
Short	OKX NEAR-USDT-SWAP	4.1210	0.0100	get 0.0100% / 8h	2h 07m	$56.2M	$274.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $21
Price spread: −0.046% → −0.100%: $5.36
Slippage, 4 orders: −$13.21
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$3.85
Costs to cover: 0.302%
Break-even: 8.3 days

Slippage from Deribit: live order book, 2 min ago; OKX: live order book, 2 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	3.02 bp	6.5 bp −$7	15.4 bp −$154	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.21 bp	8.7 bp −$9	20.1 bp −$201	36.7 bp −$3,670	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	4.1207	−0.054%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1380	+0.366%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1246	+0.041%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1279	+0.121%	$397K	$18.4M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUALlong	0.0000%	1h	4.1229	long leg	$1.8M	$2.1M	25x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1205	−0.059%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.439%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1220	−0.022%	$107K	$490K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1217	−0.029%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1204	−0.060%	$30K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.1249	+0.050%	$2.9M	$5.9M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1258	+0.071%	$348K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1204	−0.062%	$234.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1181	−0.116%	$209.6M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.1210	−0.046%	$56.2M	$274.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.1150	−0.192%	$234K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1211	−0.044%	$29.3M	$58.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1200	−0.070%	$80.4M	$144.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1220	−0.022%	$55.7M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1200	−0.070%	$68.5M	$126.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1230	+0.002%	—	$136.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1114	−0.279%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1204	−0.061%	$235K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1290	+0.148%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1210	−0.046%	$181K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1244	+0.036%	$201K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1270	+0.099%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1196	−0.080%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1210	−0.046%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1191	−0.092%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1200	−0.070%	$200K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1240	+0.027%	$307K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1224	−0.012%	$7.3M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.1228	−0.002%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1230	+0.002%	$12.2M	$33.5M	75x	as long as short
Lighter RH NEAR	+0.0248%	1h	4.1249	+0.049%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0366%	1h	4.1213	−0.038%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1199	−0.072%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1240	+0.026%	$410K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1365	+0.330%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0738%	1h	4.1244	+0.036%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0744%	1h	4.1257	+0.068%	$15.2M	$23.1M	15x	as long as short
Hyperliquid NEAR	+0.0858%	1h	4.1250	+0.051%	$346.3M	$298.9M	10x	as long as short
Aftermath Perps NEARUSD	+0.0935%	1h	4.1270	+0.100%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1069%	8h	4.1320	+0.221%	$444K	$3.7M	75x	as long as short