Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1385%/8h= +151.7% APRpaid last 24h +0.085%

Price spread now: Deribit against KuCoin+0.144%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.410%+$41 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now +0.144%, 7d avg +0.047%

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

Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Deribit is 0.096% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.047%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.410% in total (about 21.4% 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	KuCoin NEARUSDTM	4.3810	0.0100	pay 0.0100% / 8h	8m 11s	$53.1M	$46.0M	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.3873	0.1485	get 0.0186% / 1h	8m 11s	$1.9M	$13.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.144%Rate

Funding earned: $290.85
Price spread: +0.144% → +0.047%: $9.63
Slippage, 4 orders: −$25.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $256.21
Costs to cover: 0.443%
Break-even: 0.8 days

Slippage from KuCoin: live order book, 11 min ago; Deribit: live order book, 1 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 KuCoin live order book, 11 min ago	1.15 bp	11.9 bp −$12	22.9 bp −$229	97.6 bp −$9,763	doesn't fit
Sell Deribit live order book, 1 min ago	3.31 bp	8.1 bp −$8	14.6 bp −$146	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	4.3770	−0.091%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3751	−0.135%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3787	−0.053%	$164K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0016%	1h	4.3799	−0.026%	$7.3M	$38.6M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.478%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3810	0.000%	$113K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3807	−0.007%	$221.4M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3800	−0.023%	$61.5M	$296.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−0.137%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3776	−0.078%	$35.9M	$63.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3810	long leg	$53.1M	$46.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3817	+0.016%	$72.4M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3490	−0.731%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3477	−0.761%	$252K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3514	−0.676%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3440	−0.845%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3807	−0.007%	$278K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3815	+0.011%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3870	+0.137%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3800	−0.023%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3800	−0.023%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3762	−0.111%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3784	−0.060%	$3.6M	$16.6M	25x	as long as short
Aster NEARUSDT	+0.0119%	8h	4.3800	−0.022%	$2.7M	$4.8M	50x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3810	0.000%	$204K	$38K	3x	as long as short
Hyperliquid NEAR	+0.0137%	1h	4.3823	+0.030%	$353.8M	$315.5M	10x	as long as short
MEXC NEAR_USDT	+0.0154%	8h	4.3800	−0.023%	$90.7M	$154.3M	200x	as long as short
HTX NEAR-USDT	+0.0154%	8h	4.3890	+0.183%	$467K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0155%	8h	4.3810	0.000%	$265.3M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0171%	8h	4.3789	−0.048%	$972K	$25.0M	2.2x	as long as short
BingX NEAR-USDC	+0.0171%	8h	4.3810	0.000%	—	$6.6M	—	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3855	+0.103%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0275%	8h	4.3680	−0.297%	$13.3M	$32.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0341% / S −0.0240%	1h	4.3791	−0.044%	$255K	—	100x	as long as short
Nado NEAR-PERP	+0.0362%	1h	4.3761	−0.112%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.3871	+0.139%	$1.1M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3773	−0.084%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.3855	+0.103%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0536%	1h	4.3863	+0.121%	$17.3M	$25.4M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3810	0.000%	$229K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3788	−0.051%	$413K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3782	−0.064%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3817	+0.015%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1100%	1h	4.3632	−0.405%	$5K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.1485%	1h	4.3873	+0.144%	$1.9M	$13.1M	25x