NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0564%/8h= +61.8% APRnext payment +$0.71 per $10,000 · paid last 24h +0.165%

Price spread now: Backpack against Injective+4.376%7-day average −1.065% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.345%+$34 on $10k

Price spread, last 3 days (all we have)−7.126%−$713 · spread now +4.376%, 7d avg −1.065%

Together, before fees−6.781%−$678 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Backpack is 5.440% dearer against Injective than usual: you sell high and buy low: +$544 more if the spread goes back to its 7-day average of −1.065%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.345% in total (about 18.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.71 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	Injective NEAR/USDC PERP	4.1410	0.0033	pay 0.0004% / 1h	57m 05s	$578	$302K	12x
Short	Backpack NEAR_USDC_PERP	4.3222	0.0598	get 0.0075% / 1h	57m 05s	$1.3M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now +4.376%Rate

Funding earned: $118.53
Price spread: +4.376% → −1.065%: $544.03
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: $652.54
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 2 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 2 min ago	1.28 bp	6.9 bp −$7	16.1 bp −$161	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3202	+4.327%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.3191	+4.301%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3229	+4.391%	$112K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3218	+4.366%	$413K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3193	+4.305%	$208K	—	150x	as long as short
Injective NEAR/USDC PERPlong	+0.0033%	1h	4.1410	long leg	$578	$302K	12x
Popdex NEARUSDT	+0.0096%	1h	4.3230	+4.395%	$107K	$494K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3226	+4.386%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3237	+4.411%	$3.1M	$5.6M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3243	+4.427%	$406K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3159	+4.223%	$252.6M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3134	+4.163%	$222.3M	$420.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3150	+4.202%	$61.4M	$287.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3230	+4.395%	$199K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3063	+3.991%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3179	+4.272%	$30.6M	$58.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3190	+4.298%	$82.3M	$138.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3200	+4.323%	$56.6M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3171	+4.253%	$71.8M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3160	+4.226%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3069	+4.007%	$8.0M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3096	+4.071%	$269K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3088	+4.052%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3140	+4.178%	$180K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3252	+4.448%	$215K	$3.3M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3157	+4.219%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3220	+4.371%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3173	+4.257%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3190	+4.298%	$4.0M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3141	+4.181%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3175	+4.263%	$208K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0117%	1h	4.3203	+4.330%	$7.6M	$36.8M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3210	+4.347%	$12.9M	$32.6M	75x	as long as short
Lighter RH NEAR	+0.0224%	1h	4.3248	+4.439%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0256%	1h	4.3275	+4.504%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0392% / S −0.0343%	1h	4.3202	+4.327%	$293K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.3253	+4.451%	$417K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.3220	+4.371%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0598%	1h	4.3222	+4.376%	$1.3M	$5.6M	20x
Deribit NEAR_USDC-PERPETUAL	+0.0653%	1h	4.3223	+4.378%	$1.9M	$2.3M	25x	as long as short
Nado NEAR-PERP	+0.0680%	1h	4.3209	+4.346%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0915%	8h	4.3340	+4.661%	$462K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.1110%	1h	4.3048	+3.956%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1581%	1h	4.3264	+4.477%	$373.7M	$299.6M	10x	as long as short
Lighter NEAR	+0.1992%	1h	4.3312	+4.594%	$16.6M	$23.5M	15x	as long as short