Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.039%

Price spread now: Deribit against BingX+0.200%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$890.890% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 3 days (all we have)+0.145%+$14 · spread now +0.200%, 7d avg +0.082%

Together, before fees+0.535%+$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.118% dearer against BingX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDC	4.3030	0.0100	pay 0.0100% / 8h	7h 52m	—	$6.6M	—
Short	Deribit NEAR_USDC-PERPETUAL	4.3116	0.0144	get 0.0018% / 1h	52m 52s	$1.9M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.200%Rate

Funding earned: $9.24
Price spread: +0.200% → +0.082%: $11.8
Slippage, 4 orders: −$71.99
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$67.94
Costs to cover: 0.890%
Break-even: 58.5 days

Slippage from BingX: live order book, 4 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 BingX live order book, 4 min ago	1.17 bp	10.3 bp −$10	25.4 bp −$254	64.6 bp −$6,456	377.0 bp −$188.5K
Sell Deribit live order book, 1 min ago	8.35 bp	53.7 bp −$54	105.0 bp −$1,050	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
Phemex NEARUSDT	−0.1999%	8h	4.3080	+0.116%	$3.9M	$8.6M	50x	as long as short
Bybit NEARUSDT	−0.0236%	8h	4.3030	0.000%	$219.3M	$419.2M	75x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3052	+0.052%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3104	+0.171%	$7.6M	$37.2M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3061	+0.072%	$2.3M	$13.1M	50x	as long as short
01 Exchange NEARUSD	−0.0008%	1h	4.3029	−0.002%	$13K	$7K	10x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3114	+0.194%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3105	+0.174%	$378K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3092	+0.144%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0019%	8h	4.2869	−0.374%	$7.9M	$18.5M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.765%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3030	0.000%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3100	+0.163%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3032	+0.005%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3130	+0.232%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3114	+0.195%	$404K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3047	+0.041%	$255.6M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3020	−0.023%	$61.2M	$282.0M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3030	0.000%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2646	−0.892%	$243K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3044	+0.033%	$31.1M	$58.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3070	+0.093%	$79.6M	$138.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3090	+0.139%	$56.3M	$43.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3036	+0.014%	$71.4M	$125.2M	75x	as long as short
BingX NEAR-USDClong	+0.0100%	8h	4.3030	long leg	—	$6.6M	—
edgeX NEARUSDC	+0.0100%	4h	4.2790	−0.558%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2819	−0.491%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2780	−0.581%	$179K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3089	+0.137%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3140	+0.256%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3080	+0.116%	$5K	$53K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3061	+0.072%	$3.9M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3099	+0.159%	$201K	$28K	3x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0144%	1h	4.3116	+0.200%	$1.9M	$2.9M	25x
HTX NEAR-USDT	+0.0149%	8h	4.3190	+0.372%	$459K	$3.6M	75x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3090	+0.139%	$13.0M	$29.3M	75x	as long as short
Hyperliquid NEAR	+0.0347%	1h	4.3100	+0.163%	$367.6M	$299.8M	10x	as long as short
Lighter RH NEAR	+0.0360%	1h	4.3144	+0.265%	$1.6M	$6.8M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0313%	1h	4.3090	+0.139%	$275K	—	100x	as long as short
Nado NEAR-PERP	+0.0423%	1h	4.3010	−0.046%	$1.9M	$3.4M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3044	+0.032%	$409K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2848	−0.423%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0501%	1h	4.3131	+0.235%	$1.4M	$5.6M	20x	as long as short
Aftermath Perps NEARUSD	+0.1185%	1h	4.2929	−0.234%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2032%	1h	4.3218	+0.437%	$17.3M	$23.7M	15x	as long as short