NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0857%/8h= +93.8% APRnext payment +$1.07 per $10,000 · paid last 24h −0.107%

Price spread now: Deribit against Hyperliquid+0.074%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.074%, 7d avg −0.056%

Together, before fees+0.003%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Deribit is 0.130% dearer against Hyperliquid than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.056%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.07 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	Hyperliquid NEAR	4.3367	0.0578	pay 0.0072% / 1h	12m 10s	$355.2M	$314.7M	10x
Short	Deribit NEAR_USDC-PERPETUAL	4.3399	0.1435	get 0.0179% / 1h	12m 10s	$1.9M	$9.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now +0.074%Rate

Funding earned: $179.97
Price spread: +0.074% → −0.056%: $12.96
Slippage, 4 orders: −$12.59
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $164.34
Costs to cover: 0.286%
Break-even: 0.6 days

Slippage from Hyperliquid: live order book, 12 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 Hyperliquid live order book, 12 min ago	0.46 bp	5.4 bp −$5	8.8 bp −$88	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	2.88 bp	6.6 bp −$7	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	4.3370	+0.007%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3369	+0.005%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3358	−0.020%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.513%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3409	+0.097%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3370	+0.007%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3346	−0.048%	$264.9M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3315	−0.120%	$214.3M	$425.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	−0.108%	$61.3M	$288.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.189%	$248K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3296	−0.164%	$32.1M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	−0.016%	$74.6M	$146.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	−0.039%	$53.7M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3314	−0.122%	$71.4M	$127.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3320	−0.108%	—	$144.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	+0.185%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.177%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3382	+0.035%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.307%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3411	+0.101%	$272K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3361	−0.014%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3450	+0.191%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3470	+0.238%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3360	−0.016%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3359	−0.019%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3360	−0.016%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3400	+0.076%	$13.5M	$32.1M	75x	as long as short
Kalshi KXNEARPERP	+0.0263%	8h	4.3322	−0.104%	$871K	$23.5M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3395	+0.064%	$401K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0198%	1h	4.3351	−0.038%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3350	−0.039%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0351%	1h	4.3329	−0.088%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3416	+0.113%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0556%	1h	4.3370	+0.006%	$1.8M	$3.1M	10x	as long as short
Extended NEAR-USD	+0.0576%	1h	4.3323	−0.102%	$3.8M	$19.9M	25x	as long as short
Hyperliquid NEARlong	+0.0578%	1h	4.3367	long leg	$355.2M	$314.7M	10x
Backpack NEAR_USDC_PERP	+0.0589%	1h	4.3339	−0.065%	$1.3M	$6.8M	20x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3420	+0.122%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3333	−0.078%	$7.6M	$39.0M	50x	as long as short
Lighter RH NEAR	+0.0928%	1h	4.3378	+0.025%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3478	+0.256%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1080%	1h	4.3403	+0.084%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3402	+0.080%	$679K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.1435%	1h	4.3399	+0.074%	$1.9M	$9.8M	25x
Aftermath Perps NEARUSD	+0.1573%	1h	4.3425	+0.133%	$5K	$13K	10x	as long as short