Funding you earn now, next payment 00:00 UTC+0.0347%/8h= +38.0% APRnext payment +$0.43 per $10,000 · paid last 24h +0.031%
Price spread now: Backpack against Arcus+0.056%7-day average +0.836% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$250.248% of the position
Funding, last 3 days (all we have)−0.019%−$2 on $10k
+Price spread, last 7 days−0.922%−$92 · spread now +0.056%, 7d avg +0.836%
=Funding pays, the price is against you. Backpack is 0.780% cheaper against Arcus than usual: you would sell low and buy high (spread +0.056% now, against its 7-day average of +0.836%). If the spread goes back, that is −$78 on $10k: about 7.5 days of funding at the current rate (+$10 a day).
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.019% in total (about -2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. 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 | Arcus NEAR-USD | 4.2770 | 0.0100 | pay 0.0013% / 1h | 6m 36s | $196K | $1.8M | 10x |
| Short | Backpack NEAR_USDC_PERP | 4.2794 | 0.0447 | get 0.0056% / 1h | 6m 36s | $1.4M | $5.6M | 20x |
Arcus NEAR-USD
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $72.85
- Price spread: +0.056% → +0.836%
- −$78
- Slippage, 4 orders
- −$10.28
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$29.94
- Costs to cover
- 0.248%
- Break-even
- 9.9 days
Slippage from Arcus: live order book, 2 min ago; Backpack: live order book, 3 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 Arcus live order book, 2 min ago | 2.34 bp | 4.6 bp −$5 | 8.9 bp −$89 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 1.75 bp | 8.9 bp −$9 | 15.5 bp −$155 | 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 | 4.2729 | −0.095% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0072% | 1h | 4.2779 | +0.021% | $2.2M | $13.2M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.2729 | −0.095% | $111K | $62K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.2708 | −0.145% | $367K | $18.7M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.2732 | −0.088% | $203K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −3.180% | $578 | $302K | 12x | as long as short |
| Variational Omni NEAR | +0.0037% | 8h | 4.2689 | −0.190% | $7.9M | $18.5M | — | as long as short |
| Bybit NEARUSDT | +0.0043% | 8h | 4.2710 | −0.140% | $217.4M | $421.9M | 75x | as long as short |
| 01 Exchange NEARUSD | +0.0064% | 1h | 4.2766 | −0.009% | $13K | $7K | 10x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2760 | −0.023% | $110K | $497K | 50x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Variational Omni NEAR
Bybit NEARUSDT
01 Exchange NEARUSD
Popdex NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.2731 | −0.091% | $57K | $194K | 20x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.2730 | −0.094% | $31K | $647 | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.2750 | −0.047% | $3.0M | $5.7M | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.2740 | −0.070% | $400K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.2750 | −0.047% | $253.1M | $1.08B | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.2720 | −0.117% | $60.6M | $285.9M | 50x | as long as short |
| Arcus NEAR-USDlong | +0.0100% | 1h | 4.2770 | long leg | $196K | $1.8M | 10x | |
| Bulk NEAR-USD | +0.0100% | 1h | 4.2757 | −0.030% | $244K | $2K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.2722 | −0.112% | $30.9M | $60.7M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.2740 | −0.070% | $78.4M | $142.7M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.2720 | −0.117% | $55.7M | $43.4M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.2746 | −0.056% | $70.9M | $126.1M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.2730 | −0.094% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.2757 | −0.030% | $244K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.2740 | −0.070% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.2750 | −0.047% | $179K | $792K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2760 | −0.023% | $194K | $3.5M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.2780 | +0.023% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.2750 | −0.047% | $4K | $54K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.2760 | −0.023% | $3.8M | $8.5M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.2733 | −0.087% | $3.8M | $16.3M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.2755 | −0.035% | $202K | $66K | 3x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0119% | 1h | 4.2775 | +0.012% | $7.6M | $37.5M | 50x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.2760 | −0.023% | $13.0M | $29.3M | 75x | as long as short |
| Lighter RH NEAR | +0.0328% | 1h | 4.2771 | +0.002% | $1.6M | $7.1M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0335% | 1h | 4.2772 | +0.005% | $1.9M | $2.7M | 25x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0376% / S −0.0316% | 1h | 4.2730 | −0.093% | $275K | — | 100x | as long as short |
| RISEx NEAR/USDC | +0.0404% | 1h | 4.2779 | +0.020% | $420K | $1.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0447% | 1h | 4.2794 | +0.056% | $1.4M | $5.6M | 20x | |
| Phoenix NEAR | +0.0463% | 1h | 4.2832 | +0.145% | $1.8M | $2.7M | 10x | as long as short |
| Hyperliquid NEAR | +0.0615% | 1h | 4.2740 | −0.070% | $364.5M | $300.9M | 10x | as long as short |
| Nado NEAR-PERP | +0.0660% | 1h | 4.2736 | −0.080% | $1.9M | $3.4M | 10x | as long as short |
| HTX NEAR-USDT | +0.0755% | 8h | 4.2830 | +0.140% | $457K | $3.7M | 75x | as long as short |
| Aftermath Perps NEARUSD | +0.1151% | 1h | 4.2787 | +0.040% | $5K | $12K | 10x | as long as short |
| Lighter NEAR | +0.1776% | 1h | 4.2841 | +0.167% | $16.9M | $24.6M | 15x | as long as short |
Orderly PERP_NEAR_USDC
Paradex NEAR-USD-PERP
Aster NEARUSDT
Pacifica NEAR
Binance NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Kraken Futures PF_NEARUSD
BloFin NEAR-USDT
Lighter RH NEAR
Deribit NEAR_USDC-PERPETUAL
GMX NEAR/USD [ETH-USDC]
RISEx NEAR/USDC
Phoenix NEAR
Hyperliquid NEAR
Nado NEAR-PERP
HTX NEAR-USDT
Aftermath Perps NEARUSD
Lighter NEAR