NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0615%/8h= −67.4% APRnext payment −$0.77 per $10,000 · paid last 24h −0.138%

Price spread now: Kraken Futures against Backpack−0.150%51s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as 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−$350.346% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.218%−$22 on $10k

Price spread, last 3 days (all we have)+0.270%+$27 · spread now −0.150%, 7d avg −0.035%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Kraken Futures is 0.114% cheaper against Backpack than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.035%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.218% in total (about -11.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3193	0.0485	pay 0.0061% / 1h	10m 15s	$1.3M	$5.9M	20x
Short	Kraken Futures PF_NEARUSD	4.3128	−0.0130	pay 0.0016% / 1h	10m 15s	$7.9M	$38.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$129.25
Price spread: −0.150% → −0.035%: −$11.41
Slippage, 4 orders: −$14.58
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$175.24
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Kraken Futures: 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	1.50 bp	7.3 bp −$7	16.4 bp −$164	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	5.41 bp	10.4 bp −$10	10.4 bp −$104	21.0 bp −$2,097	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	4.3137	−0.130%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSDshort	−0.0130%	1h	4.3128	−0.150%	$7.9M	$38.0M	50x
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3396	+0.470%	$2.3M	$13.0M	50x	as long as short
Phemex NEARUSDT	−0.0037%	8h	4.3090	−0.238%	$3.8M	$8.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3164	−0.068%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3275	+0.190%	$346K	$19.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3104	−0.206%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3248	+0.127%	$8.2M	$18.9M	—	as long as short
01 Exchange NEARUSD	+0.0024%	1h	4.3185	−0.019%	$13K	$7K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.128%	$578	$302K	12x	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	4.3160	−0.076%	$115K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3116	−0.178%	$57K	$177K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3164	−0.067%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3185	−0.018%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3182	−0.027%	$399K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3113	−0.185%	$257.4M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3078	−0.266%	$218.2M	$414.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3090	−0.238%	$60.9M	$277.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3180	−0.030%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3083	−0.254%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3093	−0.232%	$31.0M	$60.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3120	−0.169%	$75.6M	$141.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3180	−0.030%	$56.1M	$42.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3087	−0.245%	$71.8M	$122.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3090	−0.238%	—	$141.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3290	+0.225%	$258K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3459	+0.617%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3330	+0.317%	$181K	$780K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3177	−0.037%	$198K	$3.4M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3180	−0.030%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3090	−0.238%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3180	−0.030%	$455K	$3.7M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3074	−0.276%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3108	−0.196%	$201K	$31K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0214%	1h	4.3134	−0.137%	$1.9M	$3.8M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3230	+0.086%	$12.9M	$27.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0307%	1h	4.3100	−0.216%	$275K	—	100x	as long as short
Hyperliquid NEAR	+0.0380%	1h	4.3240	+0.109%	$367.0M	$306.8M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3174	−0.043%	$402K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0429%	1h	4.3138	−0.128%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.3228	+0.081%	$1.6M	$7.0M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0485%	1h	4.3193	long leg	$1.3M	$5.9M	20x
Phoenix NEAR	+0.0499%	1h	4.3638	+1.030%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1489%	1h	4.3250	+0.132%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.3208	+0.034%	$17.3M	$24.7M	15x	as long as short