Funding arb · Price arb / Crypto

NEAR

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LONGVariational Omni▾Kraken Futures −0.0193%Orderly −0.0041%Lighter RH −0.0032%Phemex −0.0020%OKX −0.0005%dYdX 0.0000%Kalshi 0.0000%Deribit 0.0000%MEXC +0.0004%Binance +0.0004%gTrade (Gains Network) +0.0004%Gate +0.0017%Injective +0.0033%Variational Omni +0.0033%N1 +0.0056%Bybit +0.0056%BloFin +0.0059%Polymarket Perps +0.0060%Aevo +0.0080%Paradex +0.0083%Lighter +0.0096%Popdex +0.0096%Nado +0.0100%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Extended +0.0104%Arcus +0.0154%RISEx +0.0211%Phoenix +0.0252%GMX +0.0264%Coinbase International +0.0288%Aftermath Perps +0.0429%

⇄⇅

SHORTBullet▾Aftermath Perps +0.0429%Coinbase International +0.0288%Phoenix +0.0252%RISEx +0.0211%GMX −0.0191%Arcus +0.0154%Extended +0.0104%Hyperliquid +0.0100%Aster +0.0100%Pacifica +0.0100%KuCoin +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Nado +0.0100%Popdex +0.0096%Lighter +0.0096%Paradex +0.0083%Aevo +0.0080%Polymarket Perps +0.0060%BloFin +0.0059%Bybit +0.0056%N1 +0.0056%Injective +0.0033%Gate +0.0017%Binance +0.0004%MEXC +0.0004%gTrade (Gains Network) −0.0002%dYdX 0.0000%Kalshi 0.0000%Deribit 0.0000%OKX −0.0005%Phemex −0.0020%Lighter RH −0.0032%Orderly −0.0041%Bullet −0.0167%Kraken Futures −0.0193%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Variational OmniNEAR	4.9769	+0.0033	pay 0.0033% / 8h	2h 19m	$12.8M	$15.3M	50x	Long Variational Omni+15% pts
SHORT	BulletNEAR-USD	4.9591	−0.0167	pay 0.0021% / 1h	19m 34s	$66K	$159K	20x	Short Bullet

Price gap−0.358%

Funding gap−0.0201% /8h

Both sides work against this direction now: funding costs $6 a day on $10k and the gap is 0.370% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 6 days it paid −0.061% in total, about −0.0034%/8h on average.

Funding history

SpreadBoth legsCumulative

24H3D7D14D30D90D

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Spread %Both prices

24H3D7D14D30D90D

Bullet price against Variational Omninow

RANGE STATS · 7D

Now−0.358%

Average—

Range—

Wider than now—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Variational OmniBullet

NEAR on 44 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

• !
  Watch: Large against open interest6.5 / 5.9 bp

  $10k is over 10% of Bullet’s open interest.
• i
  Note: Margin at max leverage$200 + $500

  Variational Omni 50x, Bullet 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long Variational Omni · 8h−$1.00

  Short Bullet · 1h−$5.02

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$6.02Long Variational Omni: 3 payments, −$1.00; short Bullet: 24 payments, −$5.02.
• !
  Watch: Gap narrower than usual−0.358% vs +0.011%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$66K vs $12.8M OI

  Bullet sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legVariational Omni points

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legVariational Omni No · Bullet No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0034%/8h × 21 periods−$7.14

Price spread−0.358% → +0.011% (7d avg)−$36.98

Slippage, 4 orderslive order books−$16.11

Fee Variational Omni bp × 2 orders$0.00

Fee Bullet bp × 2 orders−$8.00

Net · 7 days · $10k−$68.23

Costs to cover0.241%Break-evennever at this rate

Slippage: Variational Omni: RFQ quote, 5 min ago; Bullet: live order book, 4 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGVariational Omni3.726.5 bp−$69.3 bp−$9334.3 bp−$3,426doesn’t fit

SELL · SHORTBullet1.305.9 bp−$69.4 bp−$94doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

NEAR news

posts that mention NEAR, from every exchangeSearch all news →

09-30 02:45	MEXC	Other	Not NEAR anymore. It’s here. 👀 $NRR is officially trading on NYSE Arca. Continuation or sell the news? 🤔 @MEXC on X ↗
09-30 01:05	Reya	Listing	NEARRUSDPERP no longer reported ($NEAR) seen by our collector
09-29 11:00	Bulk	Listing	NEAR-USD no longer reported ($NEAR) seen by our collector
09-28 18:50	Aevo	Other	bitcoin:native is back near $83k after trading above $86k last week. Whether you trade the continuation or pullback, all options and this week’s Perp Majors count toward the volume requirement for our year-end reward. This week’s Perp Majors include: BTC, ETH, SOL, ZEC, NEAR, HYPE, LIT, SPY, QQQ, HOOD, SNDK, MU, NVDA, TSLA, GOOGL. @aevoxyz on X ↗
09-28 14:46	RISEx	Other	This week on RISEx Market Desk: Macro: A third central bank joins the hiking cycle, and Friday delivers the first jobs report since the Fed’s pivot Crypto: Solana’s biggest upgrade yet goes live, NEAR ETF clears key hurdles, and Zcash pulls off a 3-for-1 split. Equities: One trade, three tickers - Micron ($MU) reports after the close, with potential spillover to $SKHYNIX, $DRAM, and $SNDK Watching Friday closely. Trade well @risextrade on X ↗
09-28 03:00	MEXC	Other	NEAR enough to get interesting. 👀 ETF access is getting closer. Momentum holds or cools off? @MEXC on X ↗