Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.050%

Price spread now: Deribit against KuCoin+0.016%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 3 days (all we have)+0.222%+$22 · spread now +0.016%, 7d avg +0.042%

Together, before fees+0.575%+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.042%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.3650	0.0100	pay 0.0100% / 8h	5h 48m	$54.5M	$44.0M	75x
Short	Deribit NEAR_USDC-PERPETUAL	4.3657	0.0254	get 0.0032% / 1h	48m 03s	$1.9M	$4.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $32.34
Price spread: +0.016% → +0.042%: −$2.63
Slippage, 4 orders: −$28.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$17.75
Costs to cover: 0.475%
Break-even: 10.8 days

Slippage from KuCoin: live order book, 6 min ago; Deribit: 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 KuCoin live order book, 6 min ago	1.14 bp	14.3 bp −$14	23.9 bp −$239	84.1 bp −$8,410	doesn't fit
Sell Deribit live order book, 1 min ago	3.43 bp	6.9 bp −$7	14.9 bp −$149	doesn't fit	doesn't fit

NEAR on 44 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	4.3707	+0.130%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3700	+0.115%	$2.2M	$14.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3708	+0.133%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3747	+0.222%	$561K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3708	+0.133%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.132%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3770	+0.275%	$115K	$484K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3705	+0.126%	$413K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3608	−0.097%	$265.1M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3587	−0.144%	$220.2M	$416.6M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3580	−0.160%	$62.1M	$288.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	+0.016%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3614	−0.082%	$31.4M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3650	0.000%	$75.3M	$140.0M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3650	long leg	$54.5M	$44.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3626	−0.055%	$71.7M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3600	−0.115%	—	$144.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.633%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3800	+0.345%	$268K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+0.596%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3790	+0.321%	$195K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3744	+0.215%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3638	−0.027%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3780	+0.298%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3625	−0.057%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3850	+0.458%	$458K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3630	−0.046%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3732	+0.189%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3570	−0.184%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3645	−0.011%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0193%	8h	4.3640	−0.022%	$3.0M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0254%	1h	4.3657	+0.016%	$1.9M	$4.3M	25x
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3707	+0.131%	$256K	—	100x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3725	+0.172%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.3790	+0.321%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3810	+0.367%	$209K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0671%	1h	4.3640	−0.023%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0706%	1h	4.3663	+0.030%	$8.1M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0757%	1h	4.3670	+0.046%	$367.7M	$304.7M	10x	as long as short
Lighter RH NEAR	+0.0760%	1h	4.3702	+0.119%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3944	+0.674%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3789	+0.319%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.1232%	1h	4.3731	+0.185%	$17.5M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1730%	1h	4.3793	+0.327%	$6K	$12K	10x	as long as short