Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0420%/8h= −45.9% APRpaid last 24h −0.203%

Price spread now: BingX against Backpack−0.057%7-day average −0.811% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs+$46as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.486%−$49 on $10k

Price spread, last 7 days+0.241%+$24 · spread now −0.057%, 7d avg −0.811%

Together, before fees−0.245%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.754% dearer against Backpack than usual: you sell high and buy low (spread −0.057% now, against its 7-day average of −0.811%): +$75 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3905	0.0520	pay 0.0065% / 1h	26m 31s	$1.1M	$7.2M	20x
Short	BingX NEAR-USDT	4.3880	0.0100	get 0.0100% / 8h	7h 26m	—	$83.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$88.12
Price spread: −0.057% → −0.811%: $75.4
Slippage, 4 orders: −$9.47
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$42.18
Costs to cover: 0.295%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; BingX: live order book, 13 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 Backpack live order book, 3 min ago	1.60 bp	7.9 bp −$8	14.9 bp −$149	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	1.14 bp	7.4 bp −$7	9.1 bp −$91	16.8 bp −$1,682	45.8 bp −$22.9K

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
Kraken Futures PF_NEARUSD	−0.0431%	1h	4.3794	−0.254%	$7.2M	$38.6M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3745	−0.365%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3862	−0.099%	$107K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3779	−0.286%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.683%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3870	−0.080%	$121K	$503K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3883	−0.050%	$2.7M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3889	−0.037%	$264.7M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3900	−0.011%	$221.2M	$427.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3860	−0.102%	$61.8M	$295.5M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.3880	−0.057%	$222K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−0.353%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3886	−0.043%	$36.8M	$62.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3890	−0.034%	$90.7M	$157.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3880	−0.057%	$52.7M	$45.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3898	−0.016%	$72.5M	$127.5M	75x	as long as short
BingX NEAR-USDTshort	+0.0100%	8h	4.3880	−0.057%	—	$83.1M	—
Variational Omni NEAR	+0.0100%	8h	4.3688	−0.495%	$9.0M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3715	−0.433%	$253K	$896K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3710	−0.444%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3730	−0.399%	$165K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3890	−0.034%	$274K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3815	−0.205%	$56K	$238K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3880	−0.057%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3800	−0.239%	$5K	$49K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3880	−0.057%	$3.5M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3850	−0.126%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3831	−0.169%	$3.6M	$15.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3822	−0.188%	$204K	$40K	3x	as long as short
Kalshi KXNEARPERP	+0.0139%	8h	4.3833	−0.164%	$868K	$25.4M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3850	−0.125%	$12.6M	$32.4M	75x	as long as short
Nado NEAR-PERP	+0.0250%	1h	4.3895	−0.022%	$1.7M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0261%	1h	4.3930	+0.057%	$355.1M	$316.6M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.3899	−0.014%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0354% / S −0.0232%	1h	4.3799	−0.242%	$270K	—	100x	as long as short
Lighter NEAR	+0.0400%	1h	4.3905	+0.001%	$17.3M	$23.9M	15x	as long as short
HTX NEAR-USDT	+0.0434%	8h	4.3980	+0.171%	$464K	$3.7M	75x	as long as short
Lighter RH NEAR	+0.0448%	1h	4.3919	+0.032%	$1.5M	$6.5M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3889	−0.036%	$2.3M	$17.2M	50x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0520%	1h	4.3905	long leg	$1.1M	$7.2M	20x
RISEx NEAR/USDC	+0.0656%	1h	4.3869	−0.081%	$593K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3867	−0.086%	$414K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3857	−0.109%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0755%	1h	4.3845	−0.137%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1048%	1h	4.3785	−0.272%	$5K	$7K	10x	as long as short