Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.217%

Price spread now: Aster against Backpack+0.239%7-day average −0.794% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs+$66as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 7 days+0.210%+$21 · spread now +0.239%, 7d avg −0.794%

Together, before fees−0.161%+ Points / potential airdropAster: Stage 5 · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 1.033% dearer against Backpack than usual: you sell high and buy low (spread +0.239% now, against its 7-day average of −0.794%): +$103 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3451	0.0504	pay 0.0063% / 1h	32m 38s	$1.4M	$6.6M	20x
Short	Aster NEARUSDT	4.3555	0.0326	get 0.0326% / 8h	3h 32m	$2.9M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.239%Rate

Funding earned: −$37.22
Price spread: +0.239% → −0.794%: $103.29
Slippage, 4 orders: −$19.13
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $28.94
Costs to cover: 0.371%
Break-even: from the start

Slippage from Backpack: live order book, 1 min ago; Aster: 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 Backpack live order book, 1 min ago	1.50 bp	9.2 bp −$9	17.3 bp −$173	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	4.61 bp	10.7 bp −$11	18.8 bp −$188	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	4.3365	−0.198%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3462	+0.026%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3388	−0.145%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.697%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3435	−0.037%	$2.4M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3530	+0.182%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3573	+0.282%	$266.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3519	+0.156%	$216.1M	$428.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3530	+0.182%	$61.8M	$293.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3412	−0.090%	$247K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3492	+0.094%	$32.1M	$61.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3530	+0.182%	$73.1M	$145.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3480	+0.067%	$53.9M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3490	+0.090%	$71.3M	$128.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3510	+0.136%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3327	−0.284%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3442	−0.021%	$254K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3440	−0.025%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3460	+0.021%	$167K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3399	−0.120%	$289K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3457	+0.014%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3530	+0.182%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3460	+0.021%	$471K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3440	−0.025%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3475	+0.054%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3448	−0.006%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3440	−0.025%	$13.6M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3485	+0.079%	$408K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0267%	8h	4.3363	−0.203%	$769K	$23.3M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0193%	1h	4.3387	−0.146%	$233K	—	100x	as long as short
Aster NEARUSDTshort	+0.0326%	8h	4.3555	+0.239%	$2.9M	$5.5M	50x
SoDEX NEAR-USD	+0.0399%	1h	4.3435	−0.037%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0504%	1h	4.3451	long leg	$1.4M	$6.6M	20x
01 Exchange NEARUSD	+0.0512%	1h	4.3584	+0.306%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0571%	1h	4.3525	+0.170%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0625%	1h	4.3491	+0.092%	$356.6M	$317.6M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3590	+0.320%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0664%	1h	4.3483	+0.073%	$3.8M	$20.0M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0709%	1h	4.3457	+0.013%	$7.6M	$39.4M	50x	as long as short
Lighter RH NEAR	+0.0848%	1h	4.3507	+0.129%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3543	+0.212%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1040%	1h	4.3466	+0.035%	$1.9M	$8.9M	25x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3581	+0.300%	$688K	$1.3M	10x	as long as short
Lighter NEAR	+0.1168%	1h	4.3557	+0.243%	$17.6M	$24.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1570%	1h	4.3419	−0.074%	$5K	$13K	10x	as long as short