NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0689%/8h= −75.5% APRnext payment −$0.86 per $10,000 · paid last 24h +0.033%

Price spread now: Arcus against Backpack+0.140%7-day average −0.812% · 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+$64as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Backpack Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 7 days+0.849%+$85 · spread now +0.140%, 7d avg −0.812%

Together, before fees+0.882%+$88 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.952% dearer against Backpack than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of −0.812%): +$95 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 4.6 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.033% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.86 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	Backpack NEAR_USDC_PERP	4.1442	0.0807	pay 0.0101% / 1h	35m 46s	$1.4M	$5.7M	20x
Short	Arcus NEAR-USD	4.1500	0.0118	get 0.0015% / 1h	35m 46s	$308K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$144.75
Price spread: +0.140% → −0.812%: $95.22
Slippage, 4 orders: −$16.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$80.53
Costs to cover: 0.310%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; Arcus: 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 Backpack live order book, 3 min ago	2.17 bp	7.4 bp −$7	15.8 bp −$158	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	3.63 bp	7.1 bp −$7	9.3 bp −$93	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	4.1359	−0.201%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1338	−0.251%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1478	+0.088%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1361	−0.195%	$411K	$19.1M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1372	−0.169%	$1.8M	$2.1M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1361	−0.195%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.0730	−1.718%	$569	$239K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1360	−0.198%	$107K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1470	+0.067%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1483	+0.098%	$2.9M	$5.9M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.1488	+0.111%	$367K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1454	+0.028%	$236.1M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1460	+0.043%	$211.5M	$428.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1460	+0.043%	$56.6M	$277.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1240	−0.488%	$235K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1427	−0.036%	$29.6M	$58.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1470	+0.068%	$80.4M	$142.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1510	+0.164%	$56.3M	$45.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1476	+0.082%	$69.1M	$127.7M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1460	+0.043%	—	$136.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1205	−0.571%	$7.5M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1283	−0.384%	$235K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1160	−0.680%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1200	−0.584%	$182K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1382	−0.145%	$205K	$3.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1355	−0.210%	$53K	$159K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1400	−0.101%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1355	−0.210%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1380	−0.150%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1410	−0.076%	$3.6M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1345	−0.234%	$200K	$65K	3x	as long as short
Arcus NEAR-USDshort	+0.0118%	1h	4.1500	+0.140%	$308K	$1.6M	10x
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1376	−0.160%	$7.1M	$36.7M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1410	−0.077%	$12.2M	$33.6M	75x	as long as short
01 Exchange NEARUSD	+0.0264%	1h	4.1384	−0.140%	$12K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0339%	1h	4.1335	−0.258%	$1.8M	$3.6M	10x	as long as short
Lighter RH NEAR	+0.0344%	1h	4.1537	+0.229%	$1.4M	$7.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0373% / S −0.0317%	1h	4.1367	−0.180%	$273K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1384	−0.140%	$416K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1355	−0.210%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0807%	1h	4.1442	long leg	$1.4M	$5.7M	20x
Lighter NEAR	+0.0888%	1h	4.1567	+0.303%	$15.4M	$22.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1025%	1h	4.1292	−0.362%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1090%	1h	4.1549	+0.258%	$349.9M	$300.8M	10x	as long as short
HTX NEAR-USDT	+0.1128%	8h	4.1490	+0.116%	$449K	$3.8M	75x	as long as short