Funding you earn now, next payment 22:00 UTC−0.0635%/8h= −69.5% APRnext payment −$0.79 per $10,000 · paid last 24h −0.207%
Price spread now: Bulk against Backpack−0.346%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 3 days (all we have)−0.286%−$29 on $10k
+Price spread, last 4 days (all we have)−0.180%−$18 · spread now −0.346%, 7d avg −0.062%
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Bulk is 0.284% cheaper against Backpack than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.062%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack NEAR_USDC_PERP | 4.1293 | 0.0735 | pay 0.0092% / 1h | 5m 35s | $1.4M | $5.7M | 20x |
| Short | Bulk NEAR-USD | 4.1150 | 0.0100 | get 0.0013% / 1h | 5m 35s | $234K | $6K | 10x |
Backpack NEAR_USDC_PERP
Bulk NEAR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$133.38
- Price spread: −0.346% → −0.062%
- −$28.41
- Slippage, 4 orders
- −$29.22
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$208.02
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; Bulk: live order book, 18 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, 4 min ago | 0.97 bp | 8.2 bp −$8 | 18.4 bp −$184 | doesn't fit | doesn't fit |
| Sell Bulk live order book, 18 min ago | 12.09 bp | 15.6 bp −$16 | 35.7 bp −$357 | 39.4 bp −$3,937 | 51.7 bp −$25.8K |
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 | 4.1304 | +0.027% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0024% | 1h | 4.1380 | +0.211% | $2.1M | $12.6M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.1308 | +0.035% | $104K | $54K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.1198 | −0.230% | $396K | $18.3M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.1225 | −0.165% | $204K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | +0.283% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.1260 | −0.080% | $107K | $490K | 50x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0099% | 8h | 4.1240 | −0.128% | $53K | $157K | 20x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.1254 | −0.094% | $30K | $647 | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.1330 | +0.090% | $2.9M | $5.9M | 50x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Orderly PERP_NEAR_USDC
Paradex NEAR-USD-PERP
Aster NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NEAR | +0.0100% | 1h | 4.1325 | +0.078% | $348K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.1269 | −0.058% | $235.1M | $1.08B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.1280 | −0.031% | $210.1M | $428.7M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.1290 | −0.007% | $56.3M | $275.4M | 50x | as long as short |
| Bulk NEAR-USDshort | +0.0100% | 1h | 4.1150 | −0.346% | $234K | $6K | 10x | |
| Gate NEAR_USDT | +0.0100% | 8h | 4.1268 | −0.061% | $29.3M | $58.4M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.1270 | −0.056% | $80.4M | $145.0M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.1340 | +0.114% | $55.8M | $44.9M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.1300 | +0.017% | $68.6M | $126.8M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.1260 | −0.080% | — | $6.6M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.1114 | −0.434% | $7.6M | $18.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.1204 | −0.216% | $235K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.1290 | −0.007% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.1220 | −0.177% | $181K | $792K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.1332 | +0.094% | $203K | $3.1M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.1230 | −0.153% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.1228 | −0.157% | $5K | $46K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.1240 | −0.128% | $3.8M | $8.2M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.1245 | −0.116% | $3.7M | $14.6M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.1230 | −0.153% | $200K | $61K | 3x | as long as short |
| Arcus NEAR-USD | +0.0118% | 1h | 4.1280 | −0.031% | $307K | $1.6M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0150% | 1h | 4.1260 | −0.079% | $7.3M | $36.9M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0160% | 1h | 4.1279 | −0.034% | $12K | $7K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0162% | 1h | 4.1262 | −0.075% | $1.8M | $2.1M | 25x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.1230 | −0.153% | $12.2M | $33.5M | 75x | as long as short |
| Lighter RH NEAR | +0.0256% | 1h | 4.1368 | +0.182% | $1.4M | $7.2M | 10x | as long as short |
| Nado NEAR-PERP | +0.0360% | 1h | 4.1276 | −0.041% | $1.8M | $3.6M | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0376% / S −0.0323% | 1h | 4.1219 | −0.179% | $275K | — | 100x | as long as short |
| RISEx NEAR/USDC | +0.0569% | 1h | 4.1280 | −0.032% | $411K | $1.2M | 10x | as long as short |
| Phoenix NEAR | +0.0582% | 1h | 4.1365 | +0.174% | $1.7M | $2.8M | 10x | as long as short |
| Backpack NEAR_USDC_PERPlong | +0.0735% | 1h | 4.1293 | long leg | $1.4M | $5.7M | 20x | |
| Lighter NEAR | +0.0736% | 1h | 4.1380 | +0.212% | $15.2M | $23.1M | 15x | as long as short |
| Hyperliquid NEAR | +0.0855% | 1h | 4.1381 | +0.213% | $347.4M | $298.9M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.0949% | 1h | 4.1250 | −0.105% | $5K | $11K | 10x | as long as short |
| HTX NEAR-USDT | +0.1067% | 8h | 4.1300 | +0.017% | $444K | $3.7M | 75x | as long as short |
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
01 Exchange NEARUSD
Deribit NEAR_USDC-PERPETUAL
BloFin NEAR-USDT
Lighter RH NEAR
Nado NEAR-PERP
GMX NEAR/USD [ETH-USDC]
RISEx NEAR/USDC
Phoenix NEAR
Lighter NEAR
Hyperliquid NEAR
Aftermath Perps NEARUSD
HTX NEAR-USDT