Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0214%/8h= +23.4% APRpaid last 24h +0.175%

Price spread now: Backpack against BloFin+0.186%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 3 days (all we have)−0.331%−$33 · spread now +0.186%, 7d avg +0.064%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.122% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NEAR-USDT	4.1830	0.0220	pay 0.0220% / 8h	1h 34m	$12.3M	$33.5M	75x
Short	Backpack NEAR_USDC_PERP	4.1908	0.0434	get 0.0054% / 1h	34m 46s	$1.2M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.186%Rate

Funding earned: $44.92
Price spread: +0.186% → +0.064%: $12.2
Slippage, 4 orders: −$16.59
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $18.53
Costs to cover: 0.386%
Break-even: 4.1 days

Slippage from BloFin: live order book, 4 min ago; Backpack: 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 BloFin live order book, 4 min ago	1.21 bp	9.0 bp −$9	11.1 bp −$111	24.1 bp −$2,411	98.8 bp −$49.4K
Sell Backpack live order book, 4 min ago	1.20 bp	6.6 bp −$7	14.0 bp −$140	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	4.1765	−0.154%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1813	−0.041%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.004%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1675	−0.371%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1804	−0.062%	$431K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1823	−0.016%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1871	+0.098%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.1832	+0.005%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1889	+0.141%	$1.5M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1810	−0.048%	$112K	$482K	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	+0.0099%	8h	4.1844	+0.033%	$54K	$156K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1676	−0.368%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1859	+0.069%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1716	−0.272%	$361K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1821	−0.021%	$239.1M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1810	−0.048%	$213.1M	$422.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1800	−0.072%	$57.4M	$276.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1790	−0.096%	$309K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1500	−0.789%	$236K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1815	−0.036%	$30.0M	$57.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1830	0.000%	$82.6M	$141.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1840	+0.024%	$55.2M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1810	−0.048%	$69.5M	$125.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1810	−0.048%	—	$136.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1530	−0.717%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1507	−0.773%	$237K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1549	−0.671%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1510	−0.765%	$182K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1836	+0.014%	$208K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1880	+0.120%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1835	+0.012%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1840	+0.024%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1801	−0.068%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1835	+0.012%	$201K	$62K	3x	as long as short
Lighter NEAR	+0.0208%	1h	4.1900	+0.168%	$16.0M	$23.2M	15x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.1830	long leg	$12.3M	$33.5M	75x
Hyperliquid NEAR	+0.0295%	1h	4.1869	+0.093%	$353.2M	$298.4M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1819	−0.026%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1811	−0.046%	$282K	—	100x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0434%	1h	4.1908	+0.186%	$1.2M	$5.7M	20x
Phoenix NEAR	+0.0542%	1h	4.1571	−0.619%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0553%	1h	4.1815	−0.036%	$1.8M	$3.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0586%	1h	4.1881	+0.122%	$1.8M	$2.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.0810%	1h	4.1579	−0.601%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0989%	8h	4.1960	+0.311%	$450K	$3.6M	75x	as long as short