Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.094%

Price spread now: Backpack against HTX−0.198%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)−0.487%−$49 · spread now −0.198%, 7d avg −0.173%

Together, before fees−0.676%−$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.026% cheaper against HTX than usual: you would sell low and buy high (spread −0.198% now, against its 7-day average of −0.173%). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.189%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NEAR-USDT	4.3850	0.0100	pay 0.0100% / 8h	4h 28m	$455K	$4.0M	75x
Short	Backpack NEAR_USDC_PERP	4.3763	0.0241	get 0.0030% / 1h	28m 45s	$1.3M	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.198%Rate

Funding earned: $29.59
Price spread: −0.198% → −0.173%: −$2.58
Slippage, 4 orders: −$31.86
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$26.85
Costs to cover: 0.539%
Break-even: 13.4 days

Slippage from HTX: live order book, 5 min ago; Backpack: live order book, just now.

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 HTX live order book, 5 min ago	7.92 bp	20.5 bp −$21	72.6 bp −$726	doesn't fit	doesn't fit
Sell Backpack live order book, just now	2.51 bp	8.4 bp −$8	17.3 bp −$173	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	4.3768	−0.188%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3780	−0.160%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3826	−0.054%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3841	−0.021%	$590K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3765	−0.194%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.564%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3840	−0.023%	$112K	$513K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3836	−0.032%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3844	−0.013%	$269.2M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3860	+0.023%	$220.4M	$424.1M	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	4.3810	−0.091%	$62.3M	$297.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3987	+0.313%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3814	−0.082%	$31.8M	$63.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3890	+0.091%	$73.6M	$149.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3860	+0.023%	$54.4M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3816	−0.078%	$72.0M	$130.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3840	−0.023%	—	$147.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3937	+0.199%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4018	+0.383%	$264K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3990	+0.319%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4200	+0.798%	$170K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3812	−0.087%	$233K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3793	−0.130%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3930	+0.182%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3775	−0.171%	$8K	$52K	10x	as long as short
HTX NEAR-USDTlong	+0.0100%	8h	4.3850	long leg	$455K	$4.0M	75x
Phemex NEARUSDT	+0.0100%	8h	4.3820	−0.068%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3811	−0.089%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3810	−0.091%	$204K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0201%	1h	4.3862	+0.027%	$361.7M	$326.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3750	−0.228%	$13.8M	$32.6M	75x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0241%	1h	4.3763	−0.198%	$1.3M	$6.6M	20x
Extended NEAR-USD	+0.0248%	1h	4.3804	−0.104%	$3.9M	$19.6M	25x	as long as short
01 Exchange NEARUSD	+0.0272%	1h	4.3819	−0.071%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0275%	1h	4.3799	−0.116%	$1.9M	$7.0M	25x	as long as short
Aster NEARUSDT	+0.0287%	8h	4.3839	−0.026%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0208%	1h	4.3755	−0.217%	$239K	—	100x	as long as short
Lighter RH NEAR	+0.0520%	1h	4.3892	+0.096%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0555%	1h	4.3795	−0.125%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.3830	−0.046%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0593%	1h	4.3800	−0.115%	$8.1M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4203	+0.805%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0872%	1h	4.3882	+0.073%	$17.7M	$26.3M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.3823	−0.061%	$567K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1539%	1h	4.4111	+0.596%	$5K	$12K	10x	as long as short