Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0206%/8h= −22.5% APRpaid last 24h −0.043%

Price spread now: Orderly against Deribit0.000%7-day average −0.063% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now 0.000%, 7d avg −0.063%

Together, before fees−0.420%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.063% dearer against Deribit than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.063%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.3257	0.0305	pay 0.0038% / 1h	38m 15s	$1.9M	$4.1M	25x
Short	Orderly PERP_NEAR_USDC	4.3257	0.0099	get 0.0099% / 8h	6h 38m	$57K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: −$43.19
Price spread: 0.000% → −0.063%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$49.89
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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	4.15 bp	7.6 bp −$8	14.3 bp −$143	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3298	+0.096%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3313	+0.129%	$2.1M	$13.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3310	+0.123%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3251	−0.014%	$517K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3241	−0.037%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.270%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.344%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3290	+0.076%	$115K	$478K	50x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0099%	8h	4.3257	0.000%	$57K	$161K	20x
Pacifica NEAR	+0.0100%	1h	4.3342	+0.196%	$410K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3298	+0.096%	$258.7M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3280	+0.053%	$220.1M	$419.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3300	+0.099%	$61.1M	$280.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3340	+0.192%	$205K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3300	+0.099%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3257	0.000%	$31.0M	$60.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3330	+0.169%	$75.8M	$137.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3310	+0.123%	$55.6M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3208	−0.113%	$71.6M	$123.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3240	−0.039%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3211	−0.106%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3122	−0.312%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3250	−0.016%	$179K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3326	+0.160%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3320	+0.146%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3232	−0.058%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3440	+0.423%	$442K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3270	+0.030%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3286	+0.067%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3203	−0.126%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3234	−0.054%	$201K	$34K	3x	as long as short
Aster NEARUSDT	+0.0112%	8h	4.3337	+0.185%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3242	−0.036%	$7.9M	$39.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.086%	$13.2M	$27.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0305%	1h	4.3257	long leg	$1.9M	$4.1M	25x
GMX NEAR/USD [ETH-USDC]	L +0.0360% / S −0.0278%	1h	4.3250	−0.017%	$260K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.3339	+0.190%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0443%	1h	4.3290	+0.076%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3322	+0.149%	$542K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3150	−0.247%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0640%	1h	4.3340	+0.192%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0744%	1h	4.3365	+0.250%	$364.2M	$303.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0782%	1h	4.3388	+0.303%	$1.4M	$6.0M	20x	as long as short
Lighter NEAR	+0.1432%	1h	4.3327	+0.161%	$17.3M	$24.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1438%	1h	4.3211	−0.105%	$5K	$12K	10x	as long as short