NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.170%

Price spread now: Backpack against Deribit+0.113%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Deribit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 3 days (all we have)−0.373%−$37 · spread now +0.113%, 7d avg +0.006%

Together, before fees−0.323%−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Backpack is 0.108% dearer against Deribit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.3330	0.0582	pay 0.0073% / 1h	55m 04s	$1.9M	$2.3M	25x
Short	Backpack NEAR_USDC_PERP	4.3379	0.0592	get 0.0074% / 1h	55m 04s	$1.3M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now +0.113%Rate

Funding earned: $2.16
Price spread: +0.113% → +0.006%: $10.75
Slippage, 4 orders: −$14.21
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$18.3
Costs to cover: 0.312%
Break-even: 66.3 days

Slippage from Deribit: 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 Deribit live order book, 4 min ago	4.53 bp	8.0 bp −$8	23.0 bp −$230	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	1.28 bp	6.9 bp −$7	16.1 bp −$161	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	4.3272	−0.133%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.3220	−0.254%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3250	−0.186%	$112K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3243	−0.201%	$413K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3290	−0.092%	$209K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.431%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3290	−0.092%	$108K	$495K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3269	−0.141%	$31K	$647	10x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3258	−0.165%	$406K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3346	+0.038%	$255.8M	$1.07B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3330	0.000%	$223.7M	$420.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3300	−0.069%	$61.7M	$288.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3280	−0.115%	$199K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3063	−0.617%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3329	−0.002%	$30.7M	$58.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3300	−0.069%	$82.0M	$139.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3320	−0.023%	$56.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3329	−0.002%	$72.1M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3330	0.000%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3159	−0.394%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3192	−0.318%	$270K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3177	−0.353%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.231%	$181K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3317	−0.030%	$216K	$3.3M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3299	−0.072%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3340	+0.023%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3289	−0.095%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3250	−0.185%	$4.0M	$8.1M	50x	as long as short
Aster NEARUSDT	+0.0102%	8h	4.3348	+0.041%	$3.1M	$5.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3272	−0.134%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3282	−0.111%	$208K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0117%	1h	4.3289	−0.095%	$7.6M	$36.7M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	−0.162%	$13.0M	$32.7M	75x	as long as short
01 Exchange NEARUSD	+0.0256%	1h	4.3327	−0.007%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0392% / S −0.0343%	1h	4.3290	−0.092%	$294K	—	100x	as long as short
Lighter RH NEAR	+0.0392%	1h	4.3356	+0.060%	$1.6M	$7.0M	10x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.3315	−0.035%	$418K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.3220	−0.254%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0582%	1h	4.3330	long leg	$1.9M	$2.3M	25x
Backpack NEAR_USDC_PERPshort	+0.0592%	1h	4.3379	+0.113%	$1.3M	$5.6M	20x
Nado NEAR-PERP	+0.0720%	1h	4.3250	−0.185%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0910%	8h	4.3420	+0.208%	$463K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.1144%	1h	4.3134	−0.453%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1534%	1h	4.3441	+0.256%	$375.3M	$299.9M	10x	as long as short
Lighter NEAR	+0.2112%	1h	4.3417	+0.202%	$16.7M	$23.5M	15x	as long as short