Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1122%/8h= −122.9% APRpaid last 24h −0.080%

Price spread now: Gate against Deribit−0.105%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.445% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.397%−$40 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now −0.105%, 7d avg −0.096%

Together, before fees−0.536%−$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.096%, so right now this pair is about funding alone: −$34 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.397% in total (about -20.7% a year). A funding rate is set anew for every payment. 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	4.4898	0.1222	pay 0.0153% / 1h	49m 55s	$2.0M	$12.2M	25x
Short	Gate NEAR_USDT	4.4851	0.0100	get 0.0100% / 8h	1h 49m	$34.9M	$59.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$235.62
Price spread: −0.105% → −0.096%: −$0.89
Slippage, 4 orders: −$22.47
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$280.98
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	3.71 bp	7.2 bp −$7	50.0 bp −$500	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.04 bp	15.6 bp −$16	19.4 bp −$194	33.0 bp −$3,301	57.4 bp −$28.7K

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	4.4850	−0.107%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4633	−0.591%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4838	−0.134%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.769%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4880	−0.040%	$115K	$495K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4900	+0.004%	$230.3M	$427.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4890	−0.018%	$63.1M	$300.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−1.185%	$253K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.4851	−0.105%	$34.9M	$59.9M	75x
KuCoin NEARUSDTM	+0.0100%	8h	4.4860	−0.085%	$53.9M	$45.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4838	−0.134%	$74.1M	$126.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4568	−0.736%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4503	−0.879%	$260K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4883	−0.033%	$281K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4878	−0.045%	$59K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4920	+0.049%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4870	−0.062%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4890	−0.018%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4645	−0.565%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4474	−0.943%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4870	−0.062%	$209K	$40K	3x	as long as short
ApeX Omni NEARUSDT	+0.0132%	1h	4.4470	−0.953%	$168K	$803K	50x	as long as short
BingX NEAR-USDC	+0.0163%	8h	4.4900	+0.004%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0169%	8h	4.4880	−0.040%	$85.6M	$144.4M	200x	as long as short
Binance NEARUSDT	+0.0170%	8h	4.4914	+0.037%	$272.6M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0290%	8h	4.4590	−0.686%	$13.6M	$32.9M	75x	as long as short
Kalshi KXNEARPERP	+0.0302%	8h	4.4806	−0.205%	$1.1M	$24.9M	2.2x	as long as short
SoDEX NEAR-USD	+0.0306%	1h	4.4885	−0.029%	$5K	$52K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0201%	1h	4.4837	−0.136%	$239K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4880	−0.040%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4850	−0.107%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4949	+0.114%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.4759	−0.310%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0533%	1h	4.4465	−0.964%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0610%	1h	4.4923	+0.056%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0650%	1h	4.4880	−0.039%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0748%	1h	4.4921	+0.051%	$369.6M	$307.2M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4730	−0.374%	$227K	$1.6M	10x	as long as short
Lighter NEAR	+0.0920%	1h	4.4918	+0.045%	$17.6M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	−0.911%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1056%	1h	4.4940	+0.094%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4649	−0.555%	$410K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1191%	1h	4.4447	−1.004%	$6K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.1222%	1h	4.4898	long leg	$2.0M	$12.2M	25x
RISEx NEAR/USDC	+0.1259%	1h	4.4713	−0.412%	$682K	$1.4M	10x	as long as short