Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0337%/8h= +36.9% APRpaid last 24h +0.094%

Price spread now: Deribit against OKX+0.121%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.392%+$39 on $10k

Price spread, last 4 days (all we have)+0.898%+$90 · spread now +0.121%, 7d avg +0.130%

Together, before fees+1.290%+$129 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.130%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3660	0.0100	pay 0.0100% / 8h	7h 38m	$61.5M	$295.8M	50x
Short	Deribit NEAR_USDC-PERPETUAL	4.3713	0.0437	get 0.0055% / 1h	38m 53s	$1.9M	$13.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.121%Rate

Funding earned: $70.77
Price spread: +0.121% → +0.130%: −$0.82
Slippage, 4 orders: −$13.83
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $39.12
Costs to cover: 0.308%
Break-even: 3.1 days

Slippage from OKX: live order book, 5 min ago; Deribit: live order book, 5 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 OKX live order book, 5 min ago	1.14 bp	6.9 bp −$7	16.5 bp −$165	41.2 bp −$4,119	doesn't fit
Sell Deribit live order book, 5 min ago	4.78 bp	8.5 bp −$9	15.0 bp −$150	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
Kraken Futures PF_NEARUSD	−0.0433%	1h	4.3648	−0.028%	$7.2M	$38.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3678	+0.042%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3791	+0.301%	$107K	$67K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3668	+0.018%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.153%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3740	+0.183%	$119K	$506K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3650	−0.024%	$2.7M	$4.8M	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3670	+0.023%	$220.1M	$429.0M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3660	long leg	$61.5M	$295.8M	50x
Arcus NEAR-USD	+0.0100%	1h	4.3790	+0.298%	$220K	$1.5M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk NEAR-USD	+0.0100%	1h	4.3750	+0.206%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3622	−0.087%	$36.4M	$62.0M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3610	−0.115%	$52.4M	$45.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3571	−0.204%	$71.9M	$128.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3698	+0.087%	$9.0M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3733	+0.168%	$254K	$892K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3832	+0.394%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3750	+0.206%	$165K	$826K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3810	+0.344%	$273K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3690	+0.069%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3760	+0.229%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3655	−0.011%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3630	−0.069%	$3.5M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3801	+0.322%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3569	−0.209%	$3.6M	$15.8M	25x	as long as short
MEXC NEAR_USDT	+0.0112%	8h	4.3660	0.000%	$91.5M	$157.0M	200x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3685	+0.057%	$203K	$40K	3x	as long as short
Binance NEARUSDT	+0.0112%	8h	4.3677	+0.038%	$263.6M	$1.09B	75x	as long as short
BingX NEAR-USDT	+0.0122%	8h	4.3670	+0.023%	—	$83.9M	—	as long as short
Kalshi KXNEARPERP	+0.0149%	8h	4.3844	+0.421%	$875K	$25.4M	2.2x	as long as short
Hyperliquid NEAR	+0.0196%	1h	4.3673	+0.030%	$352.9M	$316.1M	10x	as long as short
BloFin NEAR-USDT	+0.0232%	8h	4.3660	0.000%	$12.5M	$32.3M	75x	as long as short
Nado NEAR-PERP	+0.0263%	1h	4.3696	+0.083%	$1.7M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.3788	+0.293%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0351% / S −0.0254%	1h	4.3673	+0.030%	$257K	—	100x	as long as short
HTX NEAR-USDT	+0.0354%	8h	4.3800	+0.321%	$463K	$3.7M	75x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0437%	1h	4.3713	+0.121%	$1.9M	$13.1M	25x
Lighter RH NEAR	+0.0456%	1h	4.3711	+0.117%	$1.5M	$6.4M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3786	+0.289%	$2.3M	$17.2M	50x	as long as short
Lighter NEAR	+0.0488%	1h	4.3719	+0.135%	$17.3M	$23.9M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0535%	1h	4.3652	−0.018%	$1.1M	$7.2M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3758	+0.224%	$595K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3822	+0.372%	$413K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3911	+0.575%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1061%	1h	4.3856	+0.450%	$5K	$7K	10x	as long as short