Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.050%

Price spread now: Deribit against Binance+0.329%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.358%+$36 on $10k

Price spread, last 4 days (all we have)+0.828%+$83 · spread now +0.329%, 7d avg +0.059%

Together, before fees+1.186%+$119 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Deribit is 0.271% dearer against Binance than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NEARUSDT	4.4320	0.0100	pay 0.0100% / 8h	5h 28m	$269.1M	$1.08B	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.4466	0.0110	get 0.0014% / 1h	28m 26s	$1.9M	$4.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.329%Rate

Funding earned: $2.1
Price spread: +0.329% → +0.059%: $27.07
Slippage, 4 orders: −$14.37
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$2.2
Costs to cover: 0.314%
Break-even: 14.3 days

Slippage from Binance: live order book, 16 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 Binance live order book, 16 min ago	1.14 bp	7.5 bp −$8	14.4 bp −$144	34.0 bp −$3,399	98.9 bp −$49.4K
Sell Deribit live order book, 1 min ago	2.82 bp	6.3 bp −$6	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	4.4257	−0.142%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4412	+0.208%	$2.2M	$14.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4269	−0.115%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4412	+0.208%	$606K	$19.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4447	+0.288%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.566%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4300	−0.045%	$116K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4277	−0.098%	$418K	$1.2M	10x	as long as short
Binance NEARUSDTlong	+0.0100%	8h	4.4320	long leg	$269.1M	$1.08B	75x
Bybit NEARUSDT	+0.0100%	8h	4.4262	−0.131%	$222.4M	$419.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4250	−0.158%	$63.4M	$293.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	+0.227%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4245	−0.169%	$32.0M	$62.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4250	−0.158%	$76.5M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4290	−0.068%	$55.6M	$44.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4265	−0.124%	$73.0M	$127.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4270	−0.113%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4186	−0.302%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4477	+0.355%	$267K	$989K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4180	−0.316%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4160	−0.361%	$172K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4310	−0.023%	$212K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4445	+0.282%	$60K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4490	+0.384%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4425	+0.237%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4520	+0.451%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4340	+0.045%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4255	−0.146%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4248	−0.163%	$3.8M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4441	+0.273%	$207K	$34K	3x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0110%	1h	4.4466	+0.329%	$1.9M	$4.4M	25x
BloFin NEAR-USDT	+0.0220%	8h	4.4520	+0.451%	$13.7M	$31.7M	75x	as long as short
Aster NEARUSDT	+0.0242%	8h	4.4330	+0.023%	$3.0M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4450	+0.292%	$261K	—	100x	as long as short
01 Exchange NEARUSD	+0.0376%	1h	4.4292	−0.063%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0401%	1h	4.4275	−0.102%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4310	−0.023%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0564%	1h	4.4416	+0.217%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0693%	1h	4.4431	+0.250%	$8.3M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0711%	1h	4.4325	+0.011%	$369.1M	$309.2M	10x	as long as short
Lighter RH NEAR	+0.0712%	1h	4.4331	+0.025%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4463	+0.323%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4321	+0.002%	$554K	$1.3M	10x	as long as short
Lighter NEAR	+0.1272%	1h	4.4343	+0.052%	$17.7M	$25.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1651%	1h	4.4260	−0.136%	$6K	$12K	10x	as long as short