NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0689%/8h= +75.4% APRnext payment +$0.86 per $10,000 · paid last 24h +0.249%

Price spread now: Backpack against dYdX+0.217%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1081.083% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.580%+$58 on $10k

Price spread, last 4 days (all we have)+0.742%+$74 · spread now +0.217%, 7d avg +0.093%

Together, before fees+1.321%+$132 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Backpack is 0.124% dearer against dYdX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.4176	0	get 0.0000% / 1h	40m 52s	$109K	$70K	10x
Short	Backpack NEAR_USDC_PERP	4.4272	0.0689	get 0.0086% / 1h	40m 52s	$1.4M	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.217%Rate

Funding earned: $144.7
Price spread: +0.217% → +0.093%: $12.41
Slippage, 4 orders: −$88.31
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $48.8
Costs to cover: 1.083%
Break-even: 4.6 days

Slippage from dYdX: live order book, 23 min ago; Backpack: live order book, 3 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 dYdX live order book, 23 min ago	37.73 bp	42.7 bp −$43	42.7 bp −$427	70.7 bp −$7,066	125.5 bp −$62.8K
Sell Backpack live order book, 3 min ago	2.16 bp	7.2 bp −$7	18.5 bp −$185	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	4.4244	+0.154%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4211	+0.079%	$2.2M	$14.3M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.4176	long leg	$109K	$70K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.4247	+0.160%	$554K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4278	+0.231%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.262%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4250	+0.167%	$116K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4196	+0.044%	$417K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4257	+0.184%	$269.3M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4212	+0.081%	$223.1M	$417.2M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4180	+0.009%	$63.0M	$292.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−1.191%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4220	+0.099%	$31.8M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4220	+0.099%	$75.4M	$140.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4250	+0.167%	$55.6M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4206	+0.068%	$72.7M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4220	+0.099%	—	$144.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4286	+0.249%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4029	−0.332%	$264K	$985K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4147	−0.067%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4298	+0.276%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4274	+0.221%	$62K	$192K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4320	+0.326%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4235	+0.133%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4360	+0.416%	$458K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4230	+0.122%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4211	+0.080%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4209	+0.075%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4260	+0.190%	$206K	$34K	3x	as long as short
Aster NEARUSDT	+0.0218%	8h	4.4290	+0.258%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4230	+0.122%	$13.9M	$31.0M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0351% / S −0.0245%	1h	4.4273	+0.220%	$260K	—	100x	as long as short
Nado NEAR-PERP	+0.0369%	1h	4.4229	+0.118%	$1.9M	$3.0M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4270	+0.212%	$211K	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0412%	1h	4.4020	−0.354%	$200K	$779K	50x	as long as short
01 Exchange NEARUSD	+0.0416%	1h	4.4283	+0.242%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0654%	1h	4.4299	+0.278%	$1.9M	$4.3M	25x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0689%	1h	4.4272	+0.217%	$1.4M	$6.6M	20x
Kraken Futures PF_NEARUSD	+0.0696%	1h	4.4270	+0.213%	$8.3M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0800%	1h	4.4291	+0.260%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0803%	1h	4.4294	+0.267%	$372.9M	$305.5M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3792	−0.870%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4283	+0.241%	$559K	$1.3M	10x	as long as short
Lighter NEAR	+0.1416%	1h	4.4342	+0.374%	$17.7M	$25.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1746%	1h	4.3919	−0.581%	$6K	$12K	10x	as long as short