NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0680%/8h= −74.5% APRnext payment −$0.85 per $10,000 · paid last 24h −0.249%

Price spread now: dYdX against Backpack−0.360%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1081.083% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.580%−$58 on $10k

Price spread, last 4 days (all we have)−0.598%−$60 · spread now −0.360%, 7d avg −0.093%

Together, before fees−1.178%−$118 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and dYdX is 0.267% cheaper against Backpack than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.4070	0.0680	pay 0.0085% / 1h	39m 31s	$1.4M	$6.6M	20x
Short	dYdX NEAR-USD	4.3911	0	get 0.0000% / 1h	39m 31s	$108K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.360%Rate

Funding earned: −$142.79
Price spread: −0.360% → −0.093%: −$26.74
Slippage, 4 orders: −$88.31
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$277.84
Costs to cover: 1.083%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; dYdX: live order book, 24 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, 5 min ago	2.16 bp	7.7 bp −$8	17.4 bp −$174	doesn't fit	doesn't fit
Sell dYdX live order book, 24 min ago	37.73 bp	50.7 bp −$51	86.1 bp −$861	114.4 bp −$11.4K	160.7 bp −$80.4K

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	4.3749	−0.729%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3987	−0.188%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.3911	−0.360%	$108K	$70K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.4074	+0.009%	$553K	$19.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3739	−0.752%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.036%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3780	−0.658%	$114K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3947	−0.279%	$415K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3786	−0.645%	$266.4M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3848	−0.504%	$221.5M	$417.7M	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	4.3830	−0.545%	$62.5M	$289.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−0.953%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3859	−0.479%	$31.5M	$62.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3760	−0.703%	$75.0M	$141.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3780	−0.658%	$54.9M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3767	−0.688%	$72.0M	$126.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3760	−0.703%	—	$144.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4286	+0.491%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4253	+0.414%	$265K	$986K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4147	+0.174%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3804	−0.604%	$222K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3996	−0.168%	$62K	$192K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4040	−0.068%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3990	−0.182%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4110	+0.091%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4040	−0.068%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3966	−0.237%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3876	−0.440%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3998	−0.164%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0218%	8h	4.4010	−0.135%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4230	+0.363%	$13.9M	$31.0M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0341%	1h	4.4001	−0.157%	$1.9M	$4.3M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0350% / S −0.0245%	1h	4.3726	−0.780%	$257K	—	100x	as long as short
Nado NEAR-PERP	+0.0400%	1h	4.3766	−0.690%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3860	−0.477%	$209K	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0412%	1h	4.4020	−0.113%	$200K	$779K	50x	as long as short
01 Exchange NEARUSD	+0.0416%	1h	4.3849	−0.501%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0680%	1h	4.4070	long leg	$1.4M	$6.6M	20x
Kraken Futures PF_NEARUSD	+0.0699%	1h	4.4062	−0.017%	$8.2M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0784%	1h	4.3865	−0.465%	$369.3M	$303.6M	10x	as long as short
Lighter RH NEAR	+0.0800%	1h	4.4046	−0.054%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4223	+0.347%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3851	−0.497%	$556K	$1.3M	10x	as long as short
Lighter NEAR	+0.1416%	1h	4.4080	+0.022%	$17.6M	$25.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1762%	1h	4.3921	−0.338%	$6K	$12K	10x	as long as short