NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0278%/8h= −30.5% APRnext payment −$0.35 per $10,000 · paid last 24h +0.107%

Price spread now: Backpack against Kraken Futures+0.144%51s7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$430.434% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 4 days (all we have)−0.265%−$26 · spread now +0.144%, 7d avg +0.037%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.107% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.144% now, against its 7-day average of +0.037%): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 7 days funding on this pair paid +0.215%, so the current rate has only just turned against you. The two prices were read 51 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	Kraken Futures PF_NEARUSD	4.3396	0.0672	pay 0.0084% / 1h	6m 22s	$7.2M	$38.3M	50x
Short	Backpack NEAR_USDC_PERP	4.3458	0.0394	get 0.0049% / 1h	6m 22s	$1.3M	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$58.48
Price spread: +0.144% → +0.037%: $10.66
Slippage, 4 orders: −$23.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$91.24
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago	0.12 bp	12.1 bp −$12	14.3 bp −$143	38.8 bp −$3,876	4842.9 bp −$2.42M
Sell Backpack live order book, 3 min ago	0.92 bp	6.8 bp −$7	18.9 bp −$189	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	4.3393	−0.006%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3398	+0.006%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3398	+0.005%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.575%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3460	+0.149%	$107K	$490K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3413	+0.040%	$219.5M	$431.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3390	−0.013%	$61.1M	$291.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3565	+0.391%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3405	+0.022%	$35.3M	$62.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3460	+0.149%	$52.6M	$46.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.3403	+0.017%	$71.8M	$128.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3567	+0.395%	$8.7M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3470	+0.173%	$252K	$904K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3475	+0.183%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3470	+0.172%	$164K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3472	+0.176%	$289K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3429	+0.077%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3520	+0.287%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3415	+0.045%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3510	+0.264%	$460K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3470	+0.172%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.3413	+0.041%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3383	−0.030%	$3.6M	$17.9M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3429	+0.077%	$202K	$38K	3x	as long as short
BingX NEAR-USDC	+0.0203%	8h	4.3420	+0.056%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0213%	8h	4.3430	+0.079%	$77.0M	$150.6M	200x	as long as short
Binance NEARUSDT	+0.0213%	8h	4.3450	+0.126%	$263.9M	$1.08B	75x	as long as short
Kalshi KXNEARPERP	+0.0228%	8h	4.3397	+0.003%	$950K	$25.1M	2.2x	as long as short
Aster NEARUSDT	+0.0266%	8h	4.3420	+0.056%	$2.8M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0200%	1h	4.3433	+0.085%	$231K	—	100x	as long as short
BloFin NEAR-USDT	+0.0333%	8h	4.3470	+0.172%	$13.6M	$32.2M	75x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0394%	1h	4.3458	+0.144%	$1.3M	$6.9M	20x
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3450	+0.126%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0448%	1h	4.3492	+0.222%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0464%	1h	4.3466	+0.162%	$353.8M	$314.0M	10x	as long as short
Nado NEAR-PERP	+0.0539%	1h	4.3413	+0.040%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0672%	1h	4.3396	long leg	$7.2M	$38.3M	50x
Lighter NEAR	+0.0760%	1h	4.3448	+0.121%	$17.1M	$25.5M	15x	as long as short
Lighter RH NEAR	+0.0864%	1h	4.3478	+0.190%	$1.5M	$6.8M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.3490	+0.218%	$224K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0971%	1h	4.3452	+0.130%	$1.9M	$13.1M	25x	as long as short
Phoenix NEAR	+0.1003%	1h	4.3483	+0.202%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.3441	+0.105%	$401K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.3481	+0.196%	$658K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1332%	1h	4.3606	+0.485%	$5K	$12K	10x	as long as short