Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.211%

Price spread now: Backpack against KuCoin+0.043%7-day average +0.725% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.387%+$39 on $10k

Price spread, last 7 days−1.312%−$131 · spread now +0.043%, 7d avg +0.725%

Together, before fees−0.925%−$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.682% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.043% now, against its 7-day average of +0.725%). If the spread goes back, that is −$68 on $10k: about 6.8 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.1680	0.0100	pay 0.0100% / 8h	1h 29m	$54.9M	$44.4M	75x
Short	Backpack NEAR_USDC_PERP	4.1698	0.0433	get 0.0054% / 1h	29m 59s	$1.2M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.043%Rate

Funding earned: $70.01
Price spread: +0.043% → +0.725%: −$68.22
Slippage, 4 orders: −$22.84
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$43.05
Costs to cover: 0.448%
Break-even: 11.3 days

Slippage from KuCoin: live order book, 4 min ago; Backpack: 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 KuCoin live order book, 4 min ago	1.19 bp	16.4 bp −$16	26.7 bp −$267	86.2 bp −$8,619	doesn't fit
Sell Backpack live order book, 4 min ago	2.03 bp	7.2 bp −$7	14.4 bp −$144	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	4.1665	−0.036%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1664	−0.038%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.648%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1675	−0.011%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1670	−0.024%	$429K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1693	+0.032%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1687	+0.017%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0088%	1h	4.1723	+0.103%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1713	+0.079%	$1.5M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1690	+0.024%	$111K	$482K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1656	−0.058%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1680	0.000%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1661	−0.046%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1706	+0.062%	$361K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1650	−0.072%	$238.1M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1622	−0.139%	$212.3M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1620	−0.144%	$57.4M	$275.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1700	+0.048%	$241K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1652	−0.067%	$29.8M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1640	−0.096%	$81.8M	$141.8M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.1680	long leg	$54.9M	$44.4M	75x
Bitget NEARUSDT	+0.0100%	8h	4.1637	−0.103%	$68.9M	$125.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1640	−0.096%	—	$136.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.072%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.188%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1831	+0.362%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	+0.120%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1702	+0.053%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1740	+0.144%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1657	−0.055%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1650	−0.072%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.192%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1621	−0.142%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1650	−0.072%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1560	−0.288%	$12.2M	$31.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0230%	1h	4.1690	+0.024%	$1.8M	$2.2M	25x	as long as short
Hyperliquid NEAR	+0.0331%	1h	4.1705	+0.060%	$352.1M	$298.9M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1717	+0.088%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1695	+0.035%	$281K	—	100x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0433%	1h	4.1698	+0.043%	$1.2M	$5.7M	20x
Lighter NEAR	+0.0512%	1h	4.1744	+0.154%	$15.9M	$23.3M	15x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.288%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0544%	1h	4.1674	−0.014%	$1.8M	$3.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0853%	1h	4.1752	+0.173%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0975%	8h	4.1750	+0.168%	$446K	$3.6M	75x	as long as short