NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0604%/8h= −66.1% APRnext payment −$0.75 per $10,000 · paid last 24h −0.268%

Price spread now: Coinbase International against Backpack−0.313%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$430.427% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.605%−$60 on $10k

Price spread, last 3 days (all we have)+0.412%+$41 · spread now −0.313%, 7d avg −0.091%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Coinbase International is 0.222% cheaper against Backpack than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3754	0.0588	pay 0.0073% / 1h	53m 22s	$1.4M	$6.4M	20x
Short	Coinbase International NEAR-PERP-INTX	4.3617	−0.0016	pay 0.0002% / 1h	53m 22s	$2.2M	$14.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.313%Rate

Funding earned: −$126.76
Price spread: −0.313% → −0.091%: −$22.23
Slippage, 4 orders: −$22.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$191.66
Costs to cover: 0.427%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Coinbase International: live order book, 6 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, 1 min ago	0.46 bp	7.2 bp −$7	14.9 bp −$149	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	3.78 bp	12.7 bp −$13	18.3 bp −$183	doesn't fit	doesn't fit

NEAR on 44 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	4.3748	−0.014%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXshort	−0.0016%	1h	4.3617	−0.313%	$2.2M	$14.1M	50x
dYdX NEAR-USD	0.0000%	1h	4.3776	+0.050%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3767	+0.030%	$550K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3801	+0.108%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.357%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3770	+0.037%	$115K	$488K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3798	+0.100%	$413K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3823	+0.158%	$266.0M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3795	+0.094%	$221.0M	$416.4M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3790	+0.082%	$62.3M	$289.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.222%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3799	+0.103%	$31.6M	$61.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3780	+0.059%	$75.7M	$139.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3780	+0.059%	$54.3M	$43.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3799	+0.103%	$71.9M	$126.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3810	+0.128%	—	$144.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3808	+0.123%	$8.4M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3659	−0.218%	$267K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3657	−0.222%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3610	−0.329%	$194K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3792	+0.087%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3820	+0.151%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3700	−0.123%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3805	+0.117%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3750	−0.009%	$457K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3700	−0.123%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3779	+0.056%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3769	+0.034%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3828	+0.169%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0190%	8h	4.3820	+0.151%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0348% / S −0.0243%	1h	4.3789	+0.080%	$256K	—	100x	as long as short
Nado NEAR-PERP	+0.0408%	1h	4.3761	+0.015%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3786	+0.073%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3810	+0.128%	$209K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0588%	1h	4.3754	long leg	$1.4M	$6.4M	20x
Deribit NEAR_USDC-PERPETUAL	+0.0642%	1h	4.3777	+0.053%	$1.9M	$4.3M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0704%	1h	4.3766	+0.027%	$8.2M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0796%	1h	4.3831	+0.176%	$369.0M	$303.9M	10x	as long as short
Lighter RH NEAR	+0.0824%	1h	4.3812	+0.133%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3900	+0.334%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3784	+0.069%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.3853	+0.227%	$17.5M	$25.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1675%	1h	4.3720	−0.078%	$5K	$12K	10x	as long as short