NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h −0.041%

Price spread now: Hyperliquid against Backpack−0.275%7-day average −0.708% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs+$10as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days+1.074%+$107 · spread now −0.275%, 7d avg −0.708%

Together, before fees+1.066%+ Points / potential airdropHyperliquid: Season 2 · farm board+$107 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.433% dearer against Backpack than usual: you sell high and buy low, +$43 on $10k if it goes back to its 7-day average of −0.708%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3965	0.0887	pay 0.0111% / 1h	10m 32s	$1.5M	$6.3M	20x
Short	Hyperliquid NEAR	4.3844	0.0886	get 0.0111% / 1h	10m 32s	$369.2M	$310.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.275%Rate

Funding earned: −$0.11
Price spread: −0.275% → −0.708%: $43.3
Slippage, 4 orders: −$14.08
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $10.11
Costs to cover: 0.331%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; Hyperliquid: live order book, 4 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, 4 min ago	2.29 bp	7.6 bp −$8	15.3 bp −$153	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.15 bp	6.9 bp −$7	doesn't fit	doesn't fit	doesn't fit

NEAR on 44 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	4.3738	−0.516%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3914	−0.116%	$2.2M	$14.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3658	−0.699%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3881	−0.191%	$583K	$19.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3891	−0.167%	$194K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.811%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0093%	8h	4.3887	−0.177%	$8.4M	$18.5M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3770	−0.444%	$113K	$491K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3742	−0.507%	$411K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3791	−0.395%	$265.3M	$1.08B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3780	−0.421%	$221.3M	$419.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3750	−0.489%	$62.1M	$290.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3830	−0.307%	$209K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3850	−0.262%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3693	−0.619%	$31.5M	$63.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3730	−0.535%	$76.3M	$144.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3830	−0.307%	$53.9M	$43.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3749	−0.491%	$71.9M	$126.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3700	−0.603%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3834	−0.298%	$270K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3782	−0.417%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3770	−0.444%	$199K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3799	−0.378%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3943	−0.050%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3960	−0.011%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3914	−0.116%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4030	+0.148%	$460K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3920	−0.102%	$3.9M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3702	−0.599%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3679	−0.650%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3935	−0.068%	$205K	$34K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0160%	1h	4.3946	−0.043%	$1.9M	$4.2M	25x	as long as short
Aster NEARUSDT	+0.0182%	8h	4.3837	−0.291%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0215%	1h	4.3909	−0.128%	$7.7M	$41.1M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0348% / S −0.0242%	1h	4.3897	−0.154%	$256K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3797	−0.382%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0411%	1h	4.3785	−0.408%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3827	−0.313%	$548K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4005	+0.091%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0776%	1h	4.3912	−0.121%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEARshort	+0.0886%	1h	4.3844	−0.275%	$369.2M	$310.2M	10x
Backpack NEAR_USDC_PERPlong	+0.0887%	1h	4.3965	long leg	$1.5M	$6.3M	20x
Aftermath Perps NEARUSD	+0.1667%	1h	4.3950	−0.034%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1736%	1h	4.3782	−0.416%	$17.5M	$25.8M	15x	as long as short