Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.039%

Price spread now: SunX against Deribit+0.329%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1571.567% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.303%−$30 on $10k

Price spread, last 3 days (all we have)−0.201%−$20 · spread now +0.329%, 7d avg +0.076%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.253% dearer against Deribit than usual: you sell high and buy low (spread +0.329% now, against its 7-day average of +0.076%): +$25 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.2500	0.0197	pay 0.0025% / 1h	36m 24s	$1.9M	$3.2M	25x
Short	SunX NEAR-USDT	4.2640	0.0100	get 0.0100% / 8h	7h 36m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.329%Rate

Funding earned: −$20.37
Price spread: +0.329% → +0.076%: $25.3
Slippage, 4 orders: −$141.72
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$151.79
Costs to cover: 1.567%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; SunX: live order book, 8 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, 3 min ago	3.04 bp	6.5 bp −$7	14.9 bp −$149	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	31.46 bp	88.3 bp −$88	doesn't fit	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	4.2248	−0.594%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0170%	8h	4.2346	−0.362%	$215.1M	$418.0M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2464	−0.085%	$7.5M	$36.9M	50x	as long as short
Gate NEAR_USDT	−0.0130%	8h	4.2310	−0.447%	$30.4M	$59.1M	75x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2693	+0.454%	$2.2M	$13.1M	50x	as long as short
01 Exchange NEARUSD	−0.0032%	1h	4.2250	−0.588%	$12K	$7K	10x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2324	−0.415%	$110K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2490	−0.024%	$427K	$18.5M	2.2x	as long as short
Variational Omni NEAR	+0.0002%	8h	4.2588	+0.208%	$7.9M	$18.7M	—	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2338	−0.381%	$200K	—	150x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.565%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2240	−0.612%	$110K	$481K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2397	−0.242%	$56K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2278	−0.523%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2279	−0.519%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2321	−0.420%	$396K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2360	−0.329%	$251.9M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2350	−0.353%	$59.8M	$275.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2280	−0.518%	$194K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2709	+0.493%	$243K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2320	−0.424%	$76.9M	$139.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2290	−0.494%	$55.3M	$43.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2241	−0.609%	$70.1M	$124.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2390	−0.259%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2741	+0.567%	$275K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2750	+0.588%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2800	+0.706%	$179K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2268	−0.546%	$190K	$3.5M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.2640	+0.329%	$1K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.2444	−0.132%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2540	+0.094%	$453K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2500	0.000%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2239	−0.614%	$3.8M	$17.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2465	−0.082%	$198K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0157%	1h	4.2351	−0.351%	$357.1M	$301.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0197%	1h	4.2500	long leg	$1.9M	$3.2M	25x
BloFin NEAR-USDT	+0.0220%	8h	4.2470	−0.071%	$13.1M	$28.6M	75x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.2395	−0.247%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0371% / S −0.0308%	1h	4.2351	−0.351%	$269K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0412%	1h	4.2492	−0.019%	$1.3M	$5.7M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2261	−0.563%	$399K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2790	+0.682%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0536%	1h	4.2245	−0.600%	$1.8M	$3.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1336%	1h	4.2684	+0.434%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1936%	1h	4.2420	−0.188%	$16.9M	$24.0M	15x	as long as short