Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0365%/8h= −40.0% APRpaid last 24h −0.211%

Price spread now: Gate against Backpack−0.065%7-day average −0.751% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs+$17as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.384%−$38 on $10k

Price spread, last 7 days+1.336%+$134 · spread now −0.065%, 7d avg −0.751%

Together, before fees+0.952%+$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.686% dearer against Backpack than usual: you sell high and buy low (spread −0.065% now, against its 7-day average of −0.751%): +$69 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 6.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.1627	0.0465	pay 0.0058% / 1h	44m 04s	$1.2M	$5.7M	20x
Short	Gate NEAR_USDT	4.1600	0.0100	get 0.0100% / 8h	1h 44m	$29.7M	$57.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$76.7
Price spread: −0.065% → −0.751%: $68.62
Slippage, 4 orders: −$26.37
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.45
Costs to cover: 0.514%
Break-even: from the start

Slippage from Backpack: live order book, 5 min ago; Gate: live order book, 5 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	1.32 bp	10.2 bp −$10	21.8 bp −$218	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.17 bp	22.0 bp −$22	27.5 bp −$275	44.4 bp −$4,440	62.8 bp −$31.4K

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	4.1622	−0.012%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1618	−0.022%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.521%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1647	+0.047%	$107K	$56K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1663	+0.086%	$426K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1623	−0.010%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1642	+0.036%	$7.5M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.1689	+0.149%	$12K	$7K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.1654	+0.065%	$15.3M	$22.5M	15x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1652	+0.060%	$1.4M	$6.9M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.1660	+0.079%	$111K	$483K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1617	−0.024%	$54K	$156K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1635	+0.019%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1624	−0.008%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1655	+0.067%	$351K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1570	−0.137%	$237.9M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1580	−0.113%	$212.1M	$422.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1590	−0.089%	$57.0M	$275.0M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1670	+0.103%	$309K	$1.6M	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.1600	−0.065%	$29.7M	$57.1M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.1590	−0.089%	$82.0M	$141.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1620	−0.017%	$55.0M	$44.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1543	−0.202%	$69.0M	$125.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1560	−0.161%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1461	−0.399%	$7.7M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1534	−0.223%	$237K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1516	−0.267%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1500	−0.305%	$182K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1705	+0.187%	$198K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1660	+0.079%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1619	−0.019%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1600	−0.065%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1450	−0.425%	$236K	$4K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1586	−0.098%	$3.8M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1610	−0.041%	$200K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1600	−0.065%	$12.2M	$33.4M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0278%	1h	4.1650	+0.055%	$1.8M	$2.1M	25x	as long as short
Hyperliquid NEAR	+0.0313%	1h	4.1642	+0.036%	$350.2M	$298.6M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1690	+0.152%	$413K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0380% / S −0.0327%	1h	4.1618	−0.022%	$280K	—	100x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0465%	1h	4.1627	long leg	$1.2M	$5.7M	20x
Nado NEAR-PERP	+0.0522%	1h	4.1650	+0.055%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1614	−0.031%	$1.7M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.0891%	1h	4.1526	−0.243%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1006%	8h	4.1780	+0.368%	$451K	$3.6M	75x	as long as short