Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0349%/8h= +38.2% APRpaid last 24h +0.213%

Price spread now: Backpack against Binance+0.287%7-day average +0.787% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.398%+$40 on $10k

Price spread, last 7 days−1.702%−$170 · spread now +0.287%, 7d avg +0.787%

Together, before fees−1.304%−$130 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.500% cheaper against Binance than usual: you would sell low and buy high (spread +0.287% now, against its 7-day average of +0.787%). If the spread goes back, that is −$50 on $10k: about 4.8 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NEARUSDT	4.2730	0.0100	pay 0.0100% / 8h	7m 38s	$253.0M	$1.08B	75x
Short	Backpack NEAR_USDC_PERP	4.2853	0.0449	get 0.0056% / 1h	7m 38s	$1.4M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.287%Rate

Funding earned: $73.21
Price spread: +0.287% → +0.787%: −$50
Slippage, 4 orders: −$9.68
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$6.46
Costs to cover: 0.297%
Break-even: 7.6 days

Slippage from Binance: live order book, 6 min ago; Backpack: 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 Binance live order book, 6 min ago	1.17 bp	7.8 bp −$8	13.7 bp −$137	38.1 bp −$3,815	120.6 bp −$60.3K
Sell Backpack live order book, 1 min ago	1.75 bp	8.9 bp −$9	15.5 bp −$155	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	4.2807	+0.179%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2739	+0.020%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2761	+0.072%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2741	+0.025%	$372K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2852	+0.284%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.090%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0037%	8h	4.2689	−0.098%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0044%	8h	4.2717	−0.032%	$217.5M	$421.8M	75x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.2738	+0.018%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2720	−0.025%	$110K	$497K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2839	+0.254%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2722	−0.019%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2788	+0.134%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2776	+0.105%	$400K	$1.2M	10x	as long as short
Binance NEARUSDTlong	+0.0100%	8h	4.2730	long leg	$253.0M	$1.08B	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2690	−0.095%	$60.7M	$285.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2750	+0.046%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2757	+0.063%	$244K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2733	+0.006%	$30.9M	$60.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	+0.022%	$78.4M	$142.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2780	+0.116%	$55.8M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2720	−0.025%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2720	−0.025%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2757	+0.063%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2740	+0.022%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2750	+0.046%	$179K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2843	+0.263%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2880	+0.350%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2820	+0.210%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2780	+0.116%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2680	−0.118%	$3.8M	$16.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2825	+0.221%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2847	+0.274%	$7.6M	$37.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2720	−0.025%	$13.0M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2822	+0.214%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0316%	1h	4.2852	+0.283%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2756	+0.060%	$420K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0449%	1h	4.2853	+0.287%	$1.4M	$5.6M	20x
Phoenix NEAR	+0.0463%	1h	4.2832	+0.238%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0497%	1h	4.2872	+0.331%	$1.9M	$2.7M	25x	as long as short
Hyperliquid NEAR	+0.0625%	1h	4.2842	+0.261%	$365.4M	$300.9M	10x	as long as short
Nado NEAR-PERP	+0.0660%	1h	4.2805	+0.174%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0758%	8h	4.2850	+0.280%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1140%	1h	4.2836	+0.247%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.2889	+0.370%	$16.9M	$24.6M	15x	as long as short