NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0221%/8h= +24.2% APRnext payment +$0.28 per $10,000 · paid last 24h +0.162%

Price spread now: Lighter against Deribit+0.164%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs+$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.428%+$43 on $10k

Price spread, last 4 days (all we have)−0.215%−$22 · spread now +0.164%, 7d avg +0.106%

Together, before fees+0.213%+ Points / potential airdropLighter: Season 3 · farm board+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.058% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.4186	0.0747	pay 0.0093% / 1h	12m 47s	$2.0M	$7.3M	25x
Short	Lighter NEAR	4.4258	0.0968	get 0.0121% / 1h	12m 47s	$17.8M	$26.5M	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 +0.164%Rate

Funding earned: $46.41
Price spread: +0.164% → +0.106%: $5.76
Slippage, 4 orders: −$14.33
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $30.85
Costs to cover: 0.213%
Break-even: 2.3 days

Slippage from Deribit: live order book, 1 min ago; Lighter: live order book, 6 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	2.49 bp	6.0 bp −$6	16.4 bp −$164	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.24 bp	2.9 bp −$3	24.8 bp −$248	87.5 bp −$8,746	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	4.4160	−0.059%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4141	−0.102%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4159	−0.062%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4187	+0.002%	$620K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4168	−0.041%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.283%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4190	+0.009%	$113K	$518K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4188	+0.005%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4210	+0.054%	$271.9M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4140	−0.104%	$222.3M	$424.2M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4150	−0.081%	$63.0M	$298.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	−0.298%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4147	−0.088%	$32.1M	$64.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4200	+0.032%	$74.9M	$150.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4190	+0.009%	$55.0M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4147	−0.088%	$72.5M	$130.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4170	−0.036%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4137	−0.110%	$8.6M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4159	−0.061%	$265K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4070	−0.263%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4090	−0.217%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4219	+0.075%	$244K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4186	0.000%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4340	+0.349%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4240	+0.122%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4170	−0.036%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4154	−0.071%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4185	−0.002%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0172%	1h	4.4145	−0.093%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4170	−0.036%	$13.8M	$32.8M	75x	as long as short
Aster NEARUSDT	+0.0307%	8h	4.4200	+0.032%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4167	−0.042%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0335%	1h	4.4153	−0.075%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0344%	1h	4.4249	+0.143%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0375%	1h	4.4235	+0.111%	$364.9M	$324.9M	10x	as long as short
Extended NEAR-USD	+0.0432%	1h	4.4166	−0.044%	$3.9M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0549%	1h	4.4197	+0.026%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4250	+0.145%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0588%	1h	4.4160	−0.058%	$8.1M	$39.7M	50x	as long as short
Lighter RH NEAR	+0.0680%	1h	4.4237	+0.115%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0747%	1h	4.4186	long leg	$2.0M	$7.3M	25x
Phoenix NEAR	+0.0794%	1h	4.4173	−0.029%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4253	+0.152%	$592K	$1.4M	10x	as long as short
Lighter NEARshort	+0.0968%	1h	4.4258	+0.164%	$17.8M	$26.5M	15x
Aftermath Perps NEARUSD	+0.1574%	1h	4.4205	+0.044%	$5K	$12K	10x	as long as short