Funding you earn now, next payment 23:00 UTC+0.0355%/8h= +38.9% APRpaid last 24h +0.231%
Price spread now: Backpack against GRVT−0.487%85s7-day average +0.793% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4as 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−$410.409% of the position
Funding, last 7 days+0.372%+$37 on $10k
+Price spread, last 7 days−0.673%−$67 · spread now −0.487%, 7d avg +0.793%
=Together, before fees−0.301%+ Points / potential airdropGRVT: Active · farm board−$30 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 1.280% cheaper against GRVT than usual: you would sell low and buy high (spread −0.487% now, against its 7-day average of +0.793%). If the spread goes back, that is −$128 on $10k: about 12 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.372% in total) that is about 24 days. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT NEAR_USDT_Perp | 4.1460 | 0.0100 | pay 0.0100% / 8h | 1h 53m | $1.4M | $1.3M | 10x |
| Short | Backpack NEAR_USDC_PERP | 4.1258 | 0.0455 | get 0.0057% / 1h | 53m 38s | $1.2M | $5.7M | 20x |
GRVT NEAR_USDT_Perp
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $74.62
- Price spread: −0.487% → +0.793%
- −$127.98
- Slippage, 4 orders
- −$21.94
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$94.29
- Costs to cover
- 0.409%
- Break-even
- 15.8 days
Slippage from GRVT: live order book, 5 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 GRVT live order book, 5 min ago | 1.21 bp | 11.0 bp −$11 | 30.9 bp −$309 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 3.15 bp | 9.5 bp −$9 | 17.1 bp −$171 | 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 | 4.1215 | −0.591% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0032% | 1h | 4.1339 | −0.292% | $2.1M | $12.6M | 50x | as long as short |
| Injective NEAR/USDC PERP | −0.0002% | 1h | 4.1410 | −0.120% | $578 | $302K | 12x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.1226 | −0.565% | $106K | $56K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.1282 | −0.429% | $422K | $18.3M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.1281 | −0.431% | $204K | — | 150x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0049% | 1h | 4.1265 | −0.470% | $7.5M | $36.8M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0056% | 1h | 4.1227 | −0.562% | $12K | $7K | 10x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.1220 | −0.579% | $110K | $492K | 50x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.1317 | −0.345% | $53K | $157K | 20x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
Injective NEAR/USDC PERP
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Kraken Futures PF_NEARUSD
01 Exchange NEARUSD
Popdex NEARUSDT
Orderly PERP_NEAR_USDCShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.1224 | −0.569% | $30K | $647 | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.1251 | −0.504% | $2.9M | $5.8M | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.1249 | −0.508% | $347K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.1230 | −0.555% | $235.1M | $1.08B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.1210 | −0.603% | $210.2M | $427.3M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.1230 | −0.555% | $56.2M | $275.0M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.1250 | −0.506% | $305K | $1.6M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.1252 | −0.502% | $235K | $6K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.1228 | −0.559% | $29.4M | $56.7M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.1230 | −0.555% | $80.8M | $140.6M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.1250 | −0.506% | $55.7M | $44.8M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.1227 | −0.562% | $68.5M | $126.5M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.1220 | −0.579% | — | $6.6M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.1361 | −0.237% | $7.7M | $18.5M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.1392 | −0.163% | $236K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perplong | +0.0100% | 8h | 4.1460 | long leg | $1.4M | $1.3M | 10x | |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.1490 | +0.073% | $182K | $794K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.1245 | −0.518% | $198K | $3.2M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.1270 | −0.458% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.1240 | −0.530% | $5K | $46K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.1220 | −0.579% | $3.8M | $8.2M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.1219 | −0.582% | $3.8M | $14.6M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.1303 | −0.378% | $199K | $62K | 3x | as long as short |
| Lighter RH NEAR | +0.0120% | 1h | 4.1277 | −0.441% | $1.4M | $6.9M | 10x | as long as short |
| Lighter NEAR | +0.0168% | 1h | 4.1281 | −0.432% | $15.2M | $22.4M | 15x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.1340 | −0.289% | $12.2M | $33.5M | 75x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0234% | 1h | 4.1326 | −0.323% | $1.8M | $2.1M | 25x | as long as short |
| Hyperliquid NEAR | +0.0268% | 1h | 4.1272 | −0.453% | $346.8M | $296.5M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0364% | 1h | 4.1263 | −0.475% | $409K | $1.2M | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0378% / S −0.0327% | 1h | 4.1267 | −0.466% | $277K | — | 100x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0455% | 1h | 4.1258 | −0.487% | $1.2M | $5.7M | 20x | |
| Phoenix NEAR | +0.0582% | 1h | 4.1533 | +0.176% | $1.7M | $2.7M | 10x | as long as short |
| Nado NEAR-PERP | +0.0630% | 1h | 4.1213 | −0.596% | $1.8M | $3.6M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.0966% | 1h | 4.1366 | −0.226% | $5K | $11K | 10x | as long as short |
| HTX NEAR-USDT | +0.1031% | 8h | 4.1360 | −0.241% | $444K | $3.7M | 75x | as long as short |
Paradex NEAR-USD-PERP
Aster NEARUSDT
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Lighter RH NEAR
Lighter NEAR
BloFin NEAR-USDT
Deribit NEAR_USDC-PERPETUAL
Hyperliquid NEAR
RISEx NEAR/USDC
GMX NEAR/USD [ETH-USDC]
Phoenix NEAR
Nado NEAR-PERP
Aftermath Perps NEARUSD
HTX NEAR-USDT