Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0793%/8h= +86.8% APRpaid last 24h +0.042%

Price spread now: Deribit against BloFin+0.056%57s7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.447% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.056%, 7d avg +0.065%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: +$24 a day on $10k at the current rate. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.5% 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	BloFin NEAR-USDT	4.2780	0.0220	pay 0.0220% / 8h	2h 44m	$13.2M	$31.5M	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.2804	0.1013	get 0.0127% / 1h	44m 24s	$2.0M	$11.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.056%Rate

Funding earned: $166.53
Price spread: +0.056% → +0.065%: −$0.91
Slippage, 4 orders: −$25.67
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $120.95
Costs to cover: 0.447%
Break-even: 1.9 days

Slippage from BloFin: 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 BloFin live order book, 5 min ago	8.17 bp	14.2 bp −$14	17.2 bp −$172	35.4 bp −$3,542	85.4 bp −$42.7K
Sell Deribit live order book, 5 min ago	4.67 bp	8.2 bp −$8	13.8 bp −$138	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	4.2772	−0.018%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2768	−0.029%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2738	−0.097%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.202%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2790	+0.023%	$111K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2810	+0.070%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2752	−0.065%	$212.5M	$421.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2780	0.000%	$60.3M	$284.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	+0.129%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2765	−0.035%	$32.0M	$59.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2830	+0.117%	$70.5M	$142.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2820	+0.094%	$52.9M	$45.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2756	−0.056%	$70.7M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2770	−0.023%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2678	−0.240%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2781	+0.002%	$250K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2766	−0.032%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2802	+0.051%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2799	+0.044%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2870	+0.210%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2880	+0.234%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2770	−0.023%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2775	−0.013%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2784	+0.008%	$199K	$37K	3x	as long as short
ApeX Omni NEARUSDT	+0.0148%	1h	4.2790	+0.023%	$164K	$794K	50x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.2780	long leg	$13.2M	$31.5M	75x
Kalshi KXNEARPERP	+0.0253%	8h	4.2761	−0.044%	$842K	$24.5M	2.2x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2732	−0.112%	$2.3M	$15.7M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2738	−0.098%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2790	+0.023%	$2.8M	$5.4M	50x	as long as short
Nado NEAR-PERP	+0.0341%	1h	4.2778	−0.005%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0528%	1h	4.2755	−0.059%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0571%	1h	4.2775	−0.012%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0635%	1h	4.2754	−0.061%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0677%	1h	4.2827	+0.110%	$349.9M	$311.6M	10x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.2842	+0.145%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0739%	1h	4.2766	−0.032%	$7.5M	$38.7M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2820	+0.094%	$210K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2810	+0.070%	$392K	$1.3M	10x	as long as short
Lighter NEAR	+0.0856%	1h	4.2843	+0.148%	$16.8M	$25.0M	15x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.1013%	1h	4.2804	+0.056%	$2.0M	$11.0M	25x
Lighter RH NEAR	+0.1024%	1h	4.2832	+0.122%	$1.5M	$7.3M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2961	+0.423%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2817	+0.088%	$687K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1462%	1h	4.2818	+0.089%	$5K	$12K	10x	as long as short