Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2092%/8h= +229.1% APRpaid last 24h +0.085%

Price spread now: Deribit against Gate+0.422%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.406%+$41 on $10k

Price spread, last 4 days (all we have)−0.208%−$21 · spread now +0.422%, 7d avg +0.100%

Together, before fees+0.198%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$63 a day on $10k at the current rate, and Deribit is 0.322% dearer against Gate than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.100%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.406% in total (about 21.2% 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	Gate NEAR_USDT	4.3333	0.0100	pay 0.0100% / 8h	41m 49s	$35.3M	$62.2M	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.3516	0.2192	get 0.0274% / 1h	41m 49s	$1.9M	$13.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.422%Rate

Funding earned: $439.32
Price spread: +0.422% → +0.100%: $32.21
Slippage, 4 orders: −$20.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $428.96
Costs to cover: 0.426%
Break-even: 0.2 days

Slippage from Gate: live order book, 2 min ago; Deribit: 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 Gate live order book, 2 min ago	2.90 bp	16.1 bp −$16	28.9 bp −$289	46.1 bp −$4,606	64.3 bp −$32.1K
Sell Deribit live order book, 2 min ago	1.50 bp	5.0 bp −$5	14.0 bp −$140	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	4.3390	+0.131%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3281	−0.119%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0009%	1h	4.3409	+0.176%	$145K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3380	+0.107%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.438%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3390	+0.132%	$110K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3338	+0.012%	$218.6M	$430.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3340	+0.016%	$61.0M	$292.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3597	+0.609%	$248K	−$0	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.3333	long leg	$35.3M	$62.2M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3340	+0.016%	$52.5M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3341	+0.018%	$71.8M	$128.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3267	−0.153%	$8.6M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3376	+0.098%	$251K	$901K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3210	−0.284%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3280	−0.122%	$165K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3425	+0.212%	$283K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3434	+0.233%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3510	+0.408%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3400	+0.155%	$5K	$53K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3370	+0.085%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3371	+0.088%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3334	+0.001%	$3.6M	$17.3M	25x	as long as short
HTX NEAR-USDT	+0.0110%	8h	4.3600	+0.616%	$463K	$3.8M	75x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3410	+0.178%	$202K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0196%	8h	4.3257	−0.175%	$939K	$25.2M	2.2x	as long as short
Binance NEARUSDT	+0.0204%	8h	4.3331	−0.004%	$263.1M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0206%	8h	4.3370	+0.085%	$82.4M	$149.7M	200x	as long as short
BingX NEAR-USDC	+0.0206%	8h	4.3350	+0.039%	—	$6.7M	—	as long as short
Aster NEARUSDT	+0.0212%	8h	4.3332	−0.002%	$2.7M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0203%	1h	4.3420	+0.201%	$233K	—	100x	as long as short
Hyperliquid NEAR	+0.0320%	1h	4.3383	+0.115%	$350.3M	$317.0M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.3408	+0.173%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0326%	8h	4.3250	−0.192%	$13.3M	$31.9M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0428%	1h	4.3389	+0.129%	$1.2M	$7.0M	20x	as long as short
Nado NEAR-PERP	+0.0428%	1h	4.3367	+0.080%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3345	+0.028%	$2.3M	$16.8M	50x	as long as short
Lighter RH NEAR	+0.0552%	1h	4.3331	−0.005%	$1.5M	$6.6M	10x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3390	+0.132%	$226K	$1.6M	10x	as long as short
Lighter NEAR	+0.0760%	1h	4.3389	+0.130%	$17.1M	$25.0M	15x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3349	+0.037%	$408K	$1.5M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3305	−0.065%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3450	+0.270%	$620K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1275%	1h	4.3331	−0.004%	$5K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.2192%	1h	4.3516	+0.422%	$1.9M	$13.2M	25x