Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0652%/8h= +71.4% APRpaid last 24h +0.078%

Price spread now: Deribit against MEXC+0.106%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.397%+$40 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now +0.106%, 7d avg +0.082%

Together, before fees+0.563%+$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Deribit is 0.024% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.082%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.397% in total (about 20.7% 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	MEXC NEAR_USDT	4.4360	0.0158	pay 0.0158% / 8h	1h 56m	$85.1M	$143.5M	200x
Short	Deribit NEAR_USDC-PERPETUAL	4.4407	0.0810	get 0.0101% / 1h	56m 06s	$1.9M	$12.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.106%Rate

Funding earned: $136.92
Price spread: +0.106% → +0.082%: $2.37
Slippage, 4 orders: −$12.14
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $120.16
Costs to cover: 0.191%
Break-even: 0.9 days

Slippage from MEXC: live order book, 3 min ago; Deribit: live order book, 3 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 MEXC live order book, 3 min ago	1.13 bp	2.2 bp −$2	4.2 bp −$42	27.5 bp −$2,747	72.9 bp −$36.5K
Sell Deribit live order book, 3 min ago	4.17 bp	8.1 bp −$8	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	4.4383	+0.051%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4344	−0.036%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4369	+0.020%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.650%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4420	+0.135%	$114K	$491K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4360	0.000%	$226.3M	$424.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4350	−0.023%	$62.5M	$295.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4419	+0.134%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4336	−0.054%	$34.1M	$59.3M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4360	0.000%	$53.4M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4332	−0.063%	$73.2M	$126.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4347	−0.030%	$9.0M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4258	−0.230%	$258K	$962K	20x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4385	+0.056%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4450	+0.203%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4490	+0.293%	$465K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4340	−0.045%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4424	+0.145%	$32K	$608	10x	as long as short
Polymarket Perps NEAR-USD	+0.0114%	1h	4.4423	+0.142%	$277K	$4.0M	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0119%	8h	4.4330	−0.068%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4405	+0.101%	$206K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0140%	1h	4.4375	+0.034%	$5K	$52K	10x	as long as short
BingX NEAR-USDT	+0.0154%	8h	4.4350	−0.023%	—	$144.2M	—	as long as short
MEXC NEAR_USDTlong	+0.0158%	8h	4.4360	long leg	$85.1M	$143.5M	200x
Binance NEARUSDT	+0.0163%	8h	4.4370	+0.023%	$269.1M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0279%	8h	4.4340	−0.045%	$13.3M	$32.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0304%	8h	4.4302	−0.131%	$1.1M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4361	+0.002%	$238K	—	100x	as long as short
Aster NEARUSDT	+0.0344%	8h	4.4380	+0.045%	$2.9M	$5.0M	50x	as long as short
ApeX Omni NEARUSDT	+0.0394%	1h	4.4450	+0.203%	$168K	$803K	50x	as long as short
Extended NEAR-USD	+0.0408%	1h	4.4364	+0.008%	$3.7M	$19.1M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4485	+0.282%	$2.3M	$16.3M	50x	as long as short
Nado NEAR-PERP	+0.0446%	1h	4.4430	+0.158%	$1.7M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0512%	1h	4.4440	+0.180%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0658%	1h	4.4355	−0.011%	$7.4M	$39.1M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0669%	1h	4.4377	+0.038%	$1.3M	$6.5M	20x	as long as short
Hyperliquid NEAR	+0.0699%	1h	4.4403	+0.097%	$365.4M	$312.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0810%	1h	4.4407	+0.106%	$1.9M	$12.2M	25x
Arcus NEAR-USD	+0.0880%	1h	4.4470	+0.248%	$223K	$1.6M	10x	as long as short
Lighter NEAR	+0.0880%	1h	4.4435	+0.168%	$17.4M	$24.6M	15x	as long as short
Lighter RH NEAR	+0.1024%	1h	4.4411	+0.115%	$1.5M	$6.6M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4593	+0.525%	$1.8M	$2.4M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4358	−0.004%	$408K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1223%	1h	4.4274	−0.193%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4456	+0.217%	$688K	$1.4M	10x	as long as short