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: Deribit against Lighter−0.004%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Lighter Short on Deribit

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)+0.009%+$1 · spread now −0.004%, 7d avg −0.106%

Together, before fees−0.423%+ Points / potential airdropLighter: Season 3 · farm board−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Deribit is 0.102% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.106%. Mind the row above: over the last 7 days funding on this pair cost −0.432%, so the current rate has only just turned in your favour.

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	Lighter NEAR	4.3243	0.1144	pay 0.0143% / 1h	43m 56s	$17.4M	$24.9M	15x
Short	Deribit NEAR_USDC-PERPETUAL	4.3241	0.1929	get 0.0241% / 1h	43m 56s	$2.0M	$8.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now −0.004%Rate

Funding earned: $164.85
Price spread: −0.004% → −0.106%: $10.2
Slippage, 4 orders: −$16.65
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $151.4
Costs to cover: 0.237%
Break-even: 0.6 days

Slippage from Lighter: live order book, 5 min ago; Deribit: 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 Lighter live order book, 5 min ago	1.95 bp	5.9 bp −$6	17.2 bp −$172	72.0 bp −$7,196	doesn't fit
Sell Deribit live order book, 5 min ago	3.67 bp	7.2 bp −$7	13.3 bp −$133	doesn't fit	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	4.3195	−0.110%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3146	−0.224%	$106K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3139	−0.239%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.238%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3225	−0.041%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3250	+0.017%	$107K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3338	+0.220%	$266.5M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3300	+0.133%	$216.1M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	+0.179%	$61.6M	$291.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+1.222%	$249K	−$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	4.3270	+0.063%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3330	+0.202%	$73.6M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3320	+0.179%	$53.8M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3267	+0.056%	$71.0M	$128.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3320	+0.179%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.358%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.465%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3580	+0.780%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	+0.433%	$167K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3253	+0.024%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3186	−0.131%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3240	−0.006%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3290	+0.110%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3230	−0.029%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3194	−0.112%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3198	−0.103%	$201K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0138%	8h	4.3184	−0.136%	$652K	$23.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.040%	$13.7M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3163	−0.185%	$410K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0306%	8h	4.3274	+0.073%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0194%	1h	4.3140	−0.236%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0408%	1h	4.3165	−0.179%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0485%	1h	4.3294	+0.119%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3286	+0.100%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0590%	1h	4.3303	+0.139%	$355.5M	$320.0M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3290	+0.110%	$212K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0664%	1h	4.3260	+0.041%	$3.8M	$19.8M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0714%	1h	4.3160	−0.191%	$7.6M	$39.8M	50x	as long as short
Nado NEAR-PERP	+0.0729%	1h	4.3240	−0.005%	$1.8M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0856%	1h	4.3235	−0.018%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3717	+1.097%	$1.8M	$2.8M	10x	as long as short
Lighter NEARlong	+0.1144%	1h	4.3243	long leg	$17.4M	$24.9M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3293	+0.116%	$625K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1583%	1h	4.3419	+0.408%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.1929%	1h	4.3241	−0.004%	$2.0M	$8.8M	25x