Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0255%/8h= +27.9% APRpaid last 24h +0.040%

Price spread now: Deribit against SunX−0.017%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1561.560% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.297%+$30 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now −0.017%, 7d avg −0.081%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.064% dearer against SunX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.1360	0.0100	pay 0.0100% / 8h	3h 32m	$2K	$1.5M	20x
Short	Deribit NEAR_USDC-PERPETUAL	4.1353	0.0355	get 0.0044% / 1h	32m 27s	$1.8M	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.017%Rate

Funding earned: $53.55
Price spread: −0.017% → −0.081%: $6.39
Slippage, 4 orders: −$141
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$96.06
Costs to cover: 1.560%
Break-even: 19.6 days

Slippage from SunX: live order book, 3 min ago; Deribit: live order book, 2 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 SunX live order book, 3 min ago	31.54 bp	53.9 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	4.49 bp	8.5 bp −$8	14.2 bp −$142	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	4.1249	−0.269%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1321	−0.095%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1367	+0.017%	$312K	$19.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1254	−0.256%	$200K	—	150x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0008%	1h	4.1268	−0.222%	$2.1M	$12.9M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0013%	1h	4.1363	+0.006%	$7.2M	$35.0M	50x	as long as short
Extended NEAR-USD	+0.0048%	1h	4.1259	−0.244%	$3.6M	$14.6M	25x	as long as short
Injective NEAR/USDC PERP	+0.0081%	1h	4.1150	−0.508%	$574	$186K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1280	−0.193%	$107K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1265	−0.229%	$30K	$2K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.1319	−0.099%	$2.8M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1342	−0.043%	$422K	$1.1M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1269	−0.220%	$237.3M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1240	−0.290%	$210.3M	$428.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1270	−0.218%	$56.9M	$281.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1320	−0.097%	$306K	$1.6M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1256	−0.251%	$29.6M	$56.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1260	−0.242%	$81.6M	$145.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1290	−0.169%	$56.0M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1268	−0.222%	$69.2M	$129.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1250	−0.266%	—	$135.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1236	−0.301%	$7.5M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1246	−0.277%	$259K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1320	−0.097%	$1.4M	$1.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1160	−0.484%	$179K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1296	−0.155%	$230K	$3.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1336	−0.058%	$52K	$179K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.1360	long leg	$2K	$1.5M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1320	−0.097%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1360	0.000%	$3.8M	$8.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1350	−0.024%	$236K	$6K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1320	−0.097%	$200K	$64K	3x	as long as short
Lighter RH NEAR	+0.0144%	1h	4.1375	+0.036%	$1.5M	$7.3M	10x	as long as short
01 Exchange NEARUSD	+0.0200%	1h	4.1316	−0.106%	$12K	$8K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1320	−0.097%	$12.4M	$33.2M	75x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0355%	1h	4.1353	−0.017%	$1.8M	$2.0M	25x
RISEx NEAR/USDC	+0.0365%	1h	4.1307	−0.129%	$393K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0371% / S −0.0316%	1h	4.1245	−0.279%	$272K	—	100x	as long as short
Nado NEAR-PERP	+0.0392%	1h	4.1260	−0.242%	$1.8M	$4.0M	10x	as long as short
Phoenix NEAR	+0.0474%	1h	4.1297	−0.152%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0556%	1h	4.1451	+0.220%	$1.4M	$4.9M	20x	as long as short
Lighter NEAR	+0.0976%	1h	4.1422	+0.149%	$15.4M	$22.4M	15x	as long as short
Aftermath Perps NEARUSD	+0.1147%	1h	4.1215	−0.351%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1196%	8h	4.1480	+0.290%	$443K	$3.9M	75x	as long as short
Hyperliquid NEAR	+0.1346%	1h	4.1372	+0.029%	$350.6M	$306.3M	10x	as long as short