NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0785%/8h= −86.0% APRnext payment −$0.98 per $10,000 · paid last 24h +0.158%

Price spread now: Lighter against Deribit+0.373%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs+$23as in the Funding arb table

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

costs, in and out, $10k−$200.200% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.432%+$43 on $10k

Price spread, last 4 days (all we have)−0.379%−$38 · spread now +0.373%, 7d avg +0.106%

Together, before fees+0.053%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.268% dearer against Deribit than usual: you sell high and buy low (spread +0.373% now, against its 7-day average of +0.106%): +$27 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 7 days funding on this pair paid +0.432%, 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 0.432% in total (about 22.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.98 per $10,000. 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	4.3241	0.1929	pay 0.0241% / 1h	43m 37s	$2.0M	$8.8M	25x
Short	Lighter NEAR	4.3402	0.1144	get 0.0143% / 1h	43m 37s	$17.5M	$24.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.373%Rate

Funding earned: −$164.85
Price spread: +0.373% → +0.106%: $26.75
Slippage, 4 orders: −$13.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$158.11
Costs to cover: 0.200%
Break-even: from the start

Slippage from Deribit: live order book, just now; Lighter: 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 Deribit live order book, just now	1.85 bp	5.3 bp −$5	16.0 bp −$160	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.95 bp	3.4 bp −$3	11.6 bp −$116	71.4 bp −$7,145	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	4.3355	+0.263%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3308	+0.154%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3139	−0.235%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.234%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3225	−0.037%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3360	+0.275%	$108K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3410	+0.391%	$266.3M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3350	+0.252%	$216.0M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3370	+0.298%	$61.7M	$291.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	+0.368%	$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	4.3315	+0.171%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	+0.275%	$73.7M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	+0.252%	$53.9M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3336	+0.220%	$71.1M	$128.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3320	+0.183%	—	$146.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.362%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.469%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3214	−0.062%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3100	−0.326%	$166K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3398	+0.363%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3186	−0.127%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3240	−0.002%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3290	+0.113%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3230	−0.025%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3306	+0.150%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3198	−0.099%	$201K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0138%	8h	4.3184	−0.132%	$652K	$23.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.044%	$13.7M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3342	+0.233%	$412K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3328	+0.201%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0194%	1h	4.3140	−0.233%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0408%	1h	4.3165	−0.176%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0485%	1h	4.3294	+0.123%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3423	+0.421%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0603%	1h	4.3369	+0.296%	$356.1M	$320.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3420	+0.414%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0664%	1h	4.3318	+0.178%	$3.8M	$19.8M	25x	as long as short
Nado NEAR-PERP	+0.0697%	1h	4.3380	+0.321%	$1.8M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0714%	1h	4.3160	−0.187%	$7.6M	$39.8M	50x	as long as short
Lighter RH NEAR	+0.0856%	1h	4.3387	+0.338%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3717	+1.101%	$1.8M	$2.8M	10x	as long as short
Lighter NEARshort	+0.1144%	1h	4.3402	+0.373%	$17.5M	$24.9M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3430	+0.437%	$627K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1583%	1h	4.3419	+0.412%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.1929%	1h	4.3241	long leg	$2.0M	$8.8M	25x