NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0699%/8h= −76.6% APRnext payment −$0.87 per $10,000 · paid last 24h −0.268%

Price spread now: Coinbase International against Backpack−0.382%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.605%−$60 on $10k

Price spread, last 4 days (all we have)+1.322%+$132 · spread now −0.382%, 7d avg −0.095%

Together, before fees+0.717%+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Coinbase International is 0.287% cheaper against Backpack than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.4298	0.0683	pay 0.0085% / 1h	42m 02s	$1.4M	$6.6M	20x
Short	Coinbase International NEAR-PERP-INTX	4.4129	−0.0016	pay 0.0002% / 1h	42m 02s	$2.2M	$14.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.382%Rate

Funding earned: −$146.85
Price spread: −0.382% → −0.095%: −$28.69
Slippage, 4 orders: −$20.21
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$215.74
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Coinbase International: 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 Backpack live order book, 2 min ago	2.16 bp	7.7 bp −$8	17.4 bp −$174	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	6.27 bp	13.8 bp −$14	20.8 bp −$208	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	4.4144	−0.348%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXshort	−0.0016%	1h	4.4129	−0.382%	$2.2M	$14.2M	50x
dYdX NEAR-USD	0.0000%	1h	4.4132	−0.376%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4175	−0.278%	$554K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4189	−0.246%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.519%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4140	−0.357%	$116K	$484K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4155	−0.324%	$417K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4269	−0.065%	$269.4M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4237	−0.138%	$223.2M	$417.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4240	−0.131%	$63.0M	$292.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−1.463%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4251	−0.106%	$31.8M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4210	−0.199%	$76.1M	$140.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4200	−0.221%	$55.5M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4250	−0.108%	$72.8M	$126.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4270	−0.063%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3557	−1.672%	$8.4M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3587	−1.606%	$261K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3605	−1.564%	$1.4M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4184	−0.257%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4202	−0.217%	$62K	$192K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	−0.131%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4195	−0.233%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4300	+0.005%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4190	−0.244%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4139	−0.359%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4169	−0.292%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4206	−0.207%	$206K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0134%	1h	4.3630	−1.508%	$198K	$779K	50x	as long as short
Aster NEARUSDT	+0.0210%	8h	4.4265	−0.074%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4180	−0.266%	$13.9M	$30.9M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0351% / S −0.0245%	1h	4.4189	−0.246%	$259K	—	100x	as long as short
Nado NEAR-PERP	+0.0360%	1h	4.4133	−0.373%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4192	−0.239%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4200	−0.221%	$210K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0683%	1h	4.4298	long leg	$1.4M	$6.6M	20x
Kraken Futures PF_NEARUSD	+0.0696%	1h	4.4238	−0.135%	$8.3M	$41.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0723%	1h	4.4221	−0.174%	$1.9M	$4.3M	25x	as long as short
Hyperliquid NEAR	+0.0800%	1h	4.4332	+0.077%	$373.1M	$305.4M	10x	as long as short
Lighter RH NEAR	+0.0800%	1h	4.4266	−0.072%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3792	−1.142%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4177	−0.273%	$558K	$1.3M	10x	as long as short
Lighter NEAR	+0.1416%	1h	4.4282	−0.035%	$17.7M	$25.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1727%	1h	4.3843	−1.027%	$6K	$12K	10x	as long as short