NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0731%/8h= −80.1% APRnext payment −$0.91 per $10,000 · paid last 24h −0.044%

Price spread now: Arcus against Hyperliquid+0.364%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$10as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Hyperliquid Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days−0.364%−$36 · spread now +0.364%, 7d avg −0.069%

Together, before fees−0.363%+ Points / potential airdropHyperliquid: Season 2 · farm board−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.433% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.364% now, against its 7-day average of −0.069%): +$43 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 47 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.91 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid NEAR	4.3960	0.0831	pay 0.0104% / 1h	29m 58s	$371.6M	$306.4M	10x
Short	Arcus NEAR-USD	4.4120	0.0100	get 0.0013% / 1h	29m 58s	$209K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Hyperliquid. 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 HyperliquidbpFee ArcusbpOrdersPrice spread, now +0.364%Rate

Funding earned: −$153.55
Price spread: +0.364% → −0.069%: $43.34
Slippage, 4 orders: −$19.37
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$143.07
Costs to cover: 0.329%
Break-even: from the start

Slippage from Hyperliquid: live order book, 4 min ago; Arcus: 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 Hyperliquid live order book, 4 min ago	0.11 bp	11.7 bp −$12	15.4 bp −$154	doesn't fit	doesn't fit
Sell Arcus live order book, 4 min ago	3.42 bp	10.3 bp −$10	18.6 bp −$186	doesn't fit	doesn't fit

NEAR on 44 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	4.3940	−0.046%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.4077	+0.266%	$2.2M	$13.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3993	+0.075%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3954	−0.014%	$589K	$19.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3905	−0.125%	$159K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.801%	$578	$302K	12x	as long as short
Phemex NEARUSDT	+0.0051%	8h	4.3880	−0.182%	$3.9M	$8.2M	50x	as long as short
Variational Omni NEAR	+0.0059%	8h	4.3918	−0.095%	$8.5M	$18.7M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4070	+0.250%	$113K	$482K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3981	+0.047%	$416K	$1.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3875	−0.193%	$263.7M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3833	−0.289%	$222.6M	$418.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3820	−0.318%	$62.0M	$285.1M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.4120	+0.364%	$209K	$1.7M	10x
Bulk NEAR-USD	+0.0100%	1h	4.3449	−1.162%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3880	−0.182%	$31.6M	$61.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3860	−0.227%	$76.4M	$139.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3870	−0.205%	$56.1M	$42.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3836	−0.282%	$72.5M	$123.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3880	−0.182%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3679	−0.639%	$262K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3920	−0.092%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3670	−0.660%	$181K	$774K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4028	+0.155%	$218K	$3.5M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3929	−0.071%	$59K	$189K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4020	+0.136%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3915	−0.102%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4090	+0.296%	$457K	$3.8M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3942	−0.040%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3815	−0.331%	$3.8M	$18.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3920	−0.091%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0146%	8h	4.3930	−0.068%	$3.1M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0215%	1h	4.3915	−0.103%	$7.7M	$39.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0361% / S −0.0276%	1h	4.3894	−0.150%	$263K	—	100x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.4144	+0.419%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0409%	1h	4.3941	−0.043%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.4121	+0.365%	$559K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3944	−0.036%	$1.8M	$2.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0593%	1h	4.3929	−0.071%	$1.9M	$4.1M	25x	as long as short
Lighter RH NEAR	+0.0768%	1h	4.3955	−0.011%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEARlong	+0.0831%	1h	4.3960	long leg	$371.6M	$306.4M	10x
Backpack NEAR_USDC_PERP	+0.0886%	1h	4.3937	−0.052%	$1.4M	$6.0M	20x	as long as short
Aftermath Perps NEARUSD	+0.1451%	1h	4.3774	−0.422%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1528%	1h	4.3993	+0.075%	$17.6M	$24.9M	15x	as long as short