Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0118%/8h= −13.0% APRpaid last 24h −0.094%

Price spread now: HTX against Backpack+0.089%52s7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.524% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 4 days (all we have)+0.596%+$60 · spread now +0.089%, 7d avg +0.173%

Together, before fees+0.785%+$79 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and HTX is 0.083% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.173%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.189%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.4700	0.0218	pay 0.0027% / 1h	43m 17s	$1.4M	$6.6M	20x
Short	HTX NEAR-USDT	4.4740	0.0100	get 0.0100% / 8h	4h 43m	$466K	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$24.85
Price spread: +0.089% → +0.173%: −$8.31
Slippage, 4 orders: −$30.4
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$85.56
Costs to cover: 0.524%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; HTX: 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	1.34 bp	6.3 bp −$6	13.6 bp −$136	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	5.59 bp	18.1 bp −$18	65.8 bp −$658	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	4.4514	−0.417%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4509	−0.427%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4642	−0.130%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4690	−0.022%	$619K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4528	−0.384%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.360%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4540	−0.358%	$118K	$517K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4673	−0.061%	$427K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4565	−0.303%	$272.5M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4529	−0.383%	$223.0M	$425.0M	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	4.4500	−0.447%	$63.2M	$303.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	−0.336%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4538	−0.362%	$32.2M	$63.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4550	−0.336%	$75.0M	$147.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4550	−0.336%	$55.3M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4500	−0.447%	$73.2M	$130.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4540	−0.358%	—	$147.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4367	−0.745%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4481	−0.491%	$267K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4375	−0.728%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4230	−1.051%	$170K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4554	−0.327%	$241K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4545	−0.347%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4630	−0.157%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4523	−0.396%	$8K	$53K	10x	as long as short
HTX NEAR-USDTshort	+0.0100%	8h	4.4740	+0.089%	$466K	$4.0M	75x
Phemex NEARUSDT	+0.0100%	8h	4.4500	−0.447%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4598	−0.229%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4545	−0.347%	$207K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0182%	1h	4.4571	−0.289%	$368.1M	$327.0M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4483	−0.484%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0218%	1h	4.4700	long leg	$1.4M	$6.6M	20x
BloFin NEAR-USDT	+0.0220%	8h	4.4550	−0.336%	$14.1M	$33.2M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4533	−0.374%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0296%	8h	4.4580	−0.268%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0339% / S −0.0217%	1h	4.4536	−0.366%	$249K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0491%	1h	4.4556	−0.322%	$2.0M	$6.8M	25x	as long as short
Nado NEAR-PERP	+0.0511%	1h	4.4496	−0.456%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0512%	1h	4.4724	+0.054%	$1.6M	$7.2M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4680	−0.045%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0583%	1h	4.4513	−0.418%	$8.2M	$40.2M	50x	as long as short
Lighter NEAR	+0.0688%	1h	4.4585	−0.257%	$18.0M	$26.2M	15x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4521	−0.400%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4558	−0.317%	$563K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1554%	1h	4.4629	−0.158%	$6K	$12K	10x	as long as short