Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0777%/8h= −85.1% APRpaid last 24h −0.038%

Price spread now: BloFin against Deribit+0.076%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.190%−$19 · spread now +0.076%, 7d avg −0.067%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.143% dearer against Deribit than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of −0.067%): +$14 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.153% in total) that is about 6.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.153% in total (about -8.0% 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	Deribit NEAR_USDC-PERPETUAL	4.3357	0.0997	pay 0.0125% / 1h	42m 59s	$2.0M	$8.8M	25x
Short	BloFin NEAR-USDT	4.3390	0.0220	get 0.0220% / 8h	3h 42m	$13.8M	$32.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$163.17
Price spread: +0.076% → −0.067%: $14.31
Slippage, 4 orders: −$19.74
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$187.6
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; BloFin: live order book, 6 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 Deribit live order book, 1 min ago	1.85 bp	5.3 bp −$5	16.0 bp −$160	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	8.02 bp	14.0 bp −$14	19.7 bp −$197	42.2 bp −$4,221	89.0 bp −$44.5K

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	4.3355	−0.005%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3308	−0.114%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3315	−0.098%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.491%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3406	+0.113%	$2.3M	$16.0M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3360	+0.007%	$108K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3320	−0.085%	$265.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3250	−0.247%	$215.5M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3270	−0.201%	$61.7M	$291.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	+0.099%	$247K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3311	−0.106%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	+0.007%	$73.7M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	−0.016%	$53.9M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3265	−0.212%	$71.0M	$128.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3310	−0.108%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.093%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.200%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3214	−0.329%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3100	−0.593%	$166K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3398	+0.095%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3356	−0.002%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3450	+0.214%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3500	+0.330%	$462K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3370	+0.030%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3306	−0.118%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	−0.016%	$202K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0130%	8h	4.3392	+0.081%	$654K	$23.1M	2.2x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.3390	+0.076%	$13.8M	$32.2M	75x
Pacifica NEAR	+0.0263%	1h	4.3342	−0.035%	$412K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3330	−0.062%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0194%	1h	4.3316	−0.094%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0421%	1h	4.3318	−0.090%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0512%	1h	4.3350	−0.016%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3423	+0.152%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0609%	1h	4.3379	+0.050%	$356.2M	$320.5M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3420	+0.145%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0672%	1h	4.3255	−0.236%	$3.8M	$19.8M	25x	as long as short
Nado NEAR-PERP	+0.0697%	1h	4.3380	+0.053%	$1.8M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3327	−0.069%	$7.6M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0856%	1h	4.3387	+0.069%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3302	−0.127%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0997%	1h	4.3357	long leg	$2.0M	$8.8M	25x
Lighter NEAR	+0.1144%	1h	4.3390	+0.077%	$17.5M	$24.9M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3430	+0.169%	$627K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1582%	1h	4.3407	+0.116%	$5K	$12K	10x	as long as short