Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0825%/8h= −90.3% APRpaid last 24h +0.020%

Price spread now: HTX against Deribit+0.018%7-day average +0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 4 days (all we have)+0.222%+$22 · spread now +0.018%, 7d avg +0.158%

Together, before fees+0.397%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and HTX is 0.140% cheaper against Deribit than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.158%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.174%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.174% in total (about 9.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.5162	0.0925	pay 0.0116% / 1h	0m 04s	$1.9M	$13.0M	25x
Short	HTX NEAR-USDT	4.5170	0.0100	get 0.0100% / 8h	6h 00m	$468K	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$173.25
Price spread: +0.018% → +0.158%: −$14
Slippage, 4 orders: −$30.03
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$236.29
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; HTX: 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	4.34 bp	7.8 bp −$8	15.7 bp −$157	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	6.66 bp	15.9 bp −$16	39.1 bp −$391	doesn't fit	doesn't fit

NEAR on 45 exchanges

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	4.5099	−0.139%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0140%	1h	4.5102	−0.133%	$7.5M	$37.7M	50x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.5086	−0.168%	$814K	$26.3M	2.2x	as long as short
dYdX NEAR-USD	+0.0002%	1h	4.5056	−0.235%	$110K	$53K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.5009	−0.339%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.308%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5050	−0.248%	$124K	$520K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.5168	+0.014%	$2.7M	$4.8M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5130	−0.070%	$274.3M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5132	−0.066%	$233.6M	$431.8M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5120	−0.093%	$64.6M	$305.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.5090	−0.159%	$228K	$1.4M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5100	−0.137%	$269K	$12K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5120	−0.093%	$40.0M	$64.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5150	−0.027%	$77.3M	$173.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5150	−0.027%	$53.6M	$44.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5126	−0.080%	$74.8M	$129.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.5140	−0.049%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.5024	−0.305%	$8.9M	$17.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5052	−0.244%	$266K	$870K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5020	−0.314%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5050	−0.248%	$168K	$828K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5092	−0.155%	$282K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5098	−0.142%	$58K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5170	+0.018%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5125	−0.082%	$5K	$40K	10x	as long as short
HTX NEAR-USDTshort	+0.0100%	8h	4.5170	+0.018%	$468K	$3.9M	75x
Phemex NEARUSDT	+0.0100%	8h	4.5110	−0.115%	$3.4M	$7.9M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.5073	−0.197%	$33K	$51	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5110	−0.115%	$3.8M	$15.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5095	−0.149%	$210K	$38K	3x	as long as short
01 Exchange NEARUSD	+0.0192%	1h	4.5067	−0.210%	$13K	$5K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5100	−0.137%	$12.9M	$32.9M	75x	as long as short
Hyperliquid NEAR	+0.0311%	1h	4.5183	+0.046%	$364.5M	$318.4M	10x	as long as short
Lighter NEAR	+0.0312%	1h	4.5176	+0.031%	$17.6M	$24.0M	15x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0342% / S −0.0235%	1h	4.5077	−0.188%	$259K	—	100x	as long as short
Nado NEAR-PERP	+0.0374%	1h	4.5040	−0.270%	$1.7M	$3.1M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0520%	1h	4.5211	+0.108%	$2.4M	$18.0M	50x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.5036	−0.278%	$639K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0600%	1h	4.5182	+0.044%	$1.6M	$6.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0701%	1h	4.5176	+0.031%	$1.1M	$7.0M	20x	as long as short
Phoenix NEAR	+0.0851%	1h	4.5120	−0.093%	$1.7M	$2.5M	10x	as long as short
Pacifica NEAR	+0.0883%	1h	4.5086	−0.169%	$419K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0925%	1h	4.5162	long leg	$1.9M	$13.0M	25x
Aftermath Perps NEARUSD	+0.1190%	1h	4.5052	−0.243%	$6K	$6K	10x	as long as short