Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.049%

Price spread now: Orderly against Deribit−0.123%7-day average −0.062% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.123%, 7d avg −0.062%

Together, before fees−0.288%−$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.061% cheaper against Deribit than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of −0.062%). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.368%, 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	4.4564	0	get 0.0000% / 1h	33m 15s	$2.0M	$4.4M	25x
Short	Orderly PERP_NEAR_USDC	4.4509	0.0100	get 0.0100% / 8h	5h 33m	$61K	$195K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.123%Rate

Funding earned: $21
Price spread: −0.123% → −0.062%: −$6.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.91
Costs to cover: 0.130%
Break-even: 6.4 days

Slippage unknown: Deribit: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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, 1 min ago	4.84 bp	8.3 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.4374	−0.426%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4542	−0.049%	$2.2M	$14.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4384	−0.404%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4419	−0.325%	$650K	$19.5M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUALlong	0.0000%	1h	4.4564	long leg	$2.0M	$4.4M	25x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4478	−0.193%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.077%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4490	−0.166%	$116K	$488K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4420	−0.324%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4549	−0.033%	$270.1M	$1.08B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.4563	−0.002%	$224.6M	$417.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4430	−0.301%	$63.5M	$294.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	−0.322%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4391	−0.388%	$32.1M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4560	−0.009%	$77.5M	$142.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4510	−0.121%	$56.0M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4362	−0.453%	$73.0M	$126.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4390	−0.390%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4296	−0.601%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4438	−0.283%	$266K	$988K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4485	−0.178%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4517	−0.105%	$212K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.4509	−0.123%	$61K	$195K	20x
SunX NEAR-USDT	+0.0100%	8h	4.4580	+0.036%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4525	−0.088%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4480	−0.188%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4510	−0.121%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4416	−0.333%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4485	−0.178%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4533	−0.069%	$207K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0186%	1h	4.4450	−0.256%	$172K	$793K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4530	−0.076%	$13.8M	$31.5M	75x	as long as short
Aster NEARUSDT	+0.0238%	8h	4.4500	−0.145%	$3.1M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4462	−0.229%	$261K	—	100x	as long as short
Nado NEAR-PERP	+0.0384%	1h	4.4399	−0.371%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4514	−0.112%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4500	−0.144%	$212K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0671%	1h	4.4508	−0.126%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0692%	1h	4.4542	−0.049%	$8.3M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0792%	1h	4.4612	+0.108%	$1.7M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0808%	1h	4.4433	−0.294%	$373.6M	$305.7M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4143	−0.945%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4494	−0.157%	$563K	$1.3M	10x	as long as short
Lighter NEAR	+0.1416%	1h	4.4633	+0.154%	$17.9M	$25.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1691%	1h	4.4218	−0.776%	$6K	$12K	10x	as long as short