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Funding arb · Price arb /

NEAR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.216%
Price spread now: Backpack against Variational Omni+0.444%7-day average +0.728% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.302%+$30 on $10k
Price spread, last 7 days−1.682%−$168 · spread now +0.444%, 7d avg +0.728%
Together, before fees−1.380%+ Points / potential airdropVariational Omni: Active · farm board−$138 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.284% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.444% now, against its 7-day average of +0.728%). If the spread goes back, that is −$28 on $10k: about 2.5 days of funding at the current rate (+$11 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni NEAR4.13610.0100pay 0.0100% / 8h1h 50m$7.7M$18.5M—
ShortBackpack NEAR_USDC_PERP4.15450.0472get 0.0059% / 1h50m 53s$1.2M$5.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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

Funding earned
$78.1
Price spread: +0.444% → +0.728%
−$28.43
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Backpack: 5 bp × 2 orders
−$10
Net
$39.66
Costs to cover
0.100%
Break-even
3.4 days
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Backpack: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 3 min ago3.92 bpdoesn't fit12.5 bp −$12531.4 bp −$3,137doesn't fit
Sell Backpack live order book, 3 min ago3.15 bp9.5 bp −$917.1 bp −$171doesn't fitdoesn't fit

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya NEARRUSDPERP−0.0171%1h4.1475+0.275%$2K—20xas long as short
Coinbase International NEAR-PERP-INTX−0.0032%1h4.1479+0.284%$2.1M$12.7M50xas long as short
Injective NEAR/USDC PERP−0.0002%1h4.1410+0.117%$578$302K12xas long as short
dYdX NEAR-USD0.0000%1h4.1488+0.307%$106K$56K10xas long as short
Kalshi KXNEARPERP0.0000%8h4.1410+0.117%$400K$18.3M2.2xas long as short
gTrade (Gains Network) NEAR/USDL +0.0004% / S −0.0005%1h4.1484+0.296%$184K—150xas long as short
Kraken Futures PF_NEARUSD+0.0049%1h4.1498+0.329%$7.5M$36.8M50xas long as short
01 Exchange NEARUSD+0.0056%1h4.1506+0.349%$12K$7K10xas long as short
Popdex NEARUSDT+0.0096%1h4.1490+0.311%$111K$493K50xas long as short
Orderly PERP_NEAR_USDC+0.0100%8h4.1491+0.313%$53K$157K20xas long as short
Show all 45 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Paradex NEAR-USD-PERP+0.0100%8h4.1482+0.291%$30K$64710xas long as short
Aster NEARUSDT+0.0100%8h4.1540+0.432%$2.9M$5.7M50xas long as short
Pacifica NEAR+0.0100%1h4.1491+0.313%$350K$1.2M10xas long as short
Binance NEARUSDT+0.0100%8h4.1517+0.377%$236.7M$1.08B75xas long as short
Bybit NEARUSDT+0.0100%8h4.1487+0.303%$211.7M$426.4M75xas long as short
OKX NEAR-USDT-SWAP+0.0100%8h4.1500+0.335%$56.7M$276.7M50xas long as short
Arcus NEAR-USD+0.0100%1h4.1500+0.335%$307K$1.6M10xas long as short
Gate NEAR_USDT+0.0100%8h4.1509+0.357%$29.6M$56.8M75xas long as short
MEXC NEAR_USDT+0.0100%8h4.1510+0.359%$81.9M$140.7M200xas long as short
KuCoin NEARUSDTM+0.0100%8h4.1520+0.383%$56.1M$44.8M75xas long as short
Bitget NEARUSDT+0.0100%8h4.1493+0.318%$69.0M$126.3M75xas long as short
BingX NEAR-USDC+0.0100%8h4.1510+0.359%—$6.6M—as long as short
Variational Omni NEARlong+0.0100%8h4.1361long leg$7.7M$18.5M—
edgeX NEARUSDC+0.0100%4h4.1229−0.321%$235K$1.2M20xas long as short
GRVT NEAR_USDT_Perp+0.0100%8h4.1340−0.052%$1.4M$1.3M10xas long as short
ApeX Omni NEARUSDT+0.0100%1h4.1240−0.294%$181K$793K50xas long as short
Polymarket Perps NEAR-USD+0.0100%1h4.1505+0.347%$198K$3.2M10xas long as short
SunX NEAR-USDT+0.0100%8h4.1550+0.456%$2K$1.4M20xas long as short
SoDEX NEAR-USD+0.0100%1h4.1480+0.287%$5K$46K10xas long as short
Phemex NEARUSDT+0.0100%8h4.1480+0.287%$3.8M$8.2M50xas long as short
Bulk NEAR-USD+0.0100%1h4.1450+0.214%$236K$4K10xas long as short
Extended NEAR-USD+0.0104%1h4.1489+0.308%$3.8M$14.6M25xas long as short
Aevo NEAR-PERP+0.0104%1h4.1483+0.293%$200K$62K3xas long as short
Lighter RH NEAR+0.0112%1h4.1529+0.405%$1.4M$6.9M10xas long as short
Lighter NEAR+0.0160%1h4.1553+0.462%$15.3M$22.4M15xas long as short
BloFin NEAR-USDT+0.0220%8h4.1480+0.287%$12.2M$33.5M75xas long as short
Hyperliquid NEAR+0.0356%1h4.1560+0.480%$350.3M$297.3M10xas long as short
RISEx NEAR/USDC+0.0364%1h4.1511+0.360%$411K$1.2M10xas long as short
GMX NEAR/USD [ETH-USDC]L +0.0379% / S −0.0327%1h4.1490+0.312%$279K—100xas long as short
Deribit NEAR_USDC-PERPETUAL+0.0449%1h4.1524+0.393%$1.8M$2.1M25xas long as short
Backpack NEAR_USDC_PERPshort+0.0472%1h4.1545+0.444%$1.2M$5.7M20x
Nado NEAR-PERP+0.0500%1h4.1472+0.267%$1.8M$3.6M10xas long as short
Phoenix NEAR+0.0542%1h4.1307−0.132%$1.7M$2.7M10xas long as short
Aftermath Perps NEARUSD+0.0949%1h4.1383+0.052%$5K$11K10xas long as short
HTX NEAR-USDT+0.1024%8h4.1620+0.625%$447K$3.6M75xas long as short