Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0419%/8h= −45.9% APRpaid last 24h −0.039%

Price spread now: Bitget against Deribit−0.340%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.364%−$36 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now −0.340%, 7d avg −0.084%

Together, before fees−0.251%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bitget is 0.256% cheaper against Deribit than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.2929	0.0519	pay 0.0065% / 1h	27m 54s	$1.9M	$3.4M	25x
Short	Bitget NEARUSDT	4.2783	0.0100	get 0.0100% / 8h	7h 27m	$70.9M	$124.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.340%Rate

Funding earned: −$87.99
Price spread: −0.340% → −0.084%: −$25.61
Slippage, 4 orders: −$8.85
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$141.45
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Bitget: live order book, 1 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, 1 min ago	0.35 bp	3.8 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.47 bp	11.4 bp −$11	16.2 bp −$162	29.8 bp −$2,975	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	4.2808	−0.281%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.2890	−0.090%	$7.2M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2778	−0.352%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0024%	1h	4.2791	−0.321%	$13K	$7K	10x	as long as short
Bybit NEARUSDT	−0.0021%	8h	4.2790	−0.324%	$216.3M	$415.9M	75x	as long as short
Variational Omni NEAR	−0.0005%	8h	4.2608	−0.747%	$8.0M	$18.7M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2776	−0.356%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2823	−0.247%	$402K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2852	−0.180%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.538%	$578	$302K	12x	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	+0.0034%	8h	4.2796	−0.310%	$30.7M	$59.5M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2800	−0.300%	$114K	$483K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2894	−0.082%	$57K	$191K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2793	−0.316%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2856	−0.171%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2800	−0.301%	$395K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2812	−0.273%	$253.4M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2780	−0.347%	$60.1M	$278.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2810	−0.277%	$196K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2789	−0.325%	$244K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2790	−0.324%	$76.7M	$140.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2810	−0.277%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDTshort	+0.0100%	8h	4.2783	−0.340%	$70.9M	$124.2M	75x
BingX NEAR-USDC	+0.0100%	8h	4.2790	−0.324%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2606	−0.752%	$254K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2603	−0.760%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2320	−1.419%	$177K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2840	−0.207%	$206K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2890	−0.091%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2900	−0.068%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2950	+0.049%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2850	−0.184%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2771	−0.369%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2894	−0.082%	$200K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0152%	1h	4.2841	−0.205%	$359.3M	$305.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	−0.464%	$13.0M	$28.1M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2927	−0.005%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0306%	1h	4.2840	−0.207%	$272K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0412%	1h	4.2921	−0.019%	$1.3M	$5.9M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2823	−0.247%	$406K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0468%	1h	4.2797	−0.307%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2669	−0.606%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0519%	1h	4.2929	long leg	$1.9M	$3.4M	25x
Aftermath Perps NEARUSD	+0.1304%	1h	4.2655	−0.639%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1896%	1h	4.2973	+0.103%	$17.2M	$24.3M	15x	as long as short