Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0832%/8h= −91.1% APRpaid last 24h −0.080%

Price spread now: Gate against Deribit−0.045%7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.397%−$40 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now −0.045%, 7d avg −0.102%

Together, before fees−0.565%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.056% dearer against Deribit than usual: you sell high and buy low (spread −0.045% now, against its 7-day average of −0.102%): +$6 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.397% in total) that is about 24 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.397% in total (about -20.7% 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	4.4042	0.0932	pay 0.0116% / 1h	26m 47s	$1.9M	$13.1M	25x
Short	Gate NEAR_USDT	4.4022	0.0100	get 0.0100% / 8h	1h 26m	$35.4M	$61.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.045%Rate

Funding earned: −$174.72
Price spread: −0.045% → −0.102%: $5.61
Slippage, 4 orders: −$33.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$224.55
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	3.07 bp	7.9 bp −$8	21.4 bp −$214	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.99 bp	19.7 bp −$20	24.8 bp −$248	48.8 bp −$4,876	65.8 bp −$32.9K

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	4.3933	−0.247%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4037	−0.011%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3910	−0.299%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.976%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4090	+0.109%	$112K	$492K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4060	+0.041%	$223.3M	$434.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4050	+0.018%	$62.1M	$295.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4350	+0.699%	$253K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.4022	−0.045%	$35.4M	$61.5M	75x
KuCoin NEARUSDTM	+0.0100%	8h	4.4030	−0.027%	$53.3M	$46.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4045	+0.007%	$72.4M	$127.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4217	+0.398%	$8.8M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4018	−0.054%	$257K	$914K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4010	−0.073%	$166K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4088	+0.104%	$296K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4028	−0.032%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4070	+0.064%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4100	+0.132%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4040	−0.005%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4038	−0.010%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0113%	8h	4.4260	+0.495%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4045	+0.007%	$205K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0170%	1h	4.4015	−0.061%	$5K	$52K	10x	as long as short
Extended NEAR-USD	+0.0192%	1h	4.4019	−0.051%	$3.7M	$18.4M	25x	as long as short
BingX NEAR-USDT	+0.0193%	8h	4.4060	+0.041%	—	$144.1M	—	as long as short
MEXC NEAR_USDT	+0.0200%	8h	4.4050	+0.018%	$80.0M	$148.7M	200x	as long as short
Binance NEARUSDT	+0.0201%	8h	4.4069	+0.060%	$268.9M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0259%	8h	4.4018	−0.054%	$1.0M	$25.0M	2.2x	as long as short
Aster NEARUSDT	+0.0306%	8h	4.4046	+0.010%	$2.8M	$5.0M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0198%	1h	4.3978	−0.144%	$234K	—	100x	as long as short
BloFin NEAR-USDT	+0.0321%	8h	4.4060	+0.041%	$13.7M	$32.5M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0413%	1h	4.4036	−0.014%	$1.4M	$6.8M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4059	+0.039%	$2.3M	$16.7M	50x	as long as short
01 Exchange NEARUSD	+0.0440%	1h	4.4061	+0.043%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0456%	1h	4.4096	+0.123%	$359.8M	$314.9M	10x	as long as short
Nado NEAR-PERP	+0.0604%	1h	4.4050	+0.018%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0663%	1h	4.4001	−0.092%	$7.3M	$38.4M	50x	as long as short
Lighter NEAR	+0.0832%	1h	4.4125	+0.188%	$17.3M	$25.2M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4070	+0.064%	$223K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0912%	1h	4.4074	+0.073%	$1.5M	$6.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0932%	1h	4.4042	long leg	$1.9M	$13.1M	25x
Phoenix NEAR	+0.1003%	1h	4.4297	+0.579%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4046	+0.010%	$420K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4026	−0.036%	$664K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1262%	1h	4.4174	+0.300%	$5K	$12K	10x	as long as short