NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0963%/8h= −105.4% APRnext payment −$1.20 per $10,000 · paid last 24h −0.243%

Price spread now: dYdX against Backpack−0.283%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1361.357% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.571%−$57 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.283%, 7d avg −0.096%

Together, before fees−0.562%−$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and dYdX is 0.187% cheaper against Backpack than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.096%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.571% in total (about -29.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.4658	0.0963	pay 0.0120% / 1h	19m 14s	$1.4M	$6.3M	20x
Short	dYdX NEAR-USD	4.4532	0	get 0.0000% / 1h	19m 14s	$110K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.283%Rate

Funding earned: −$202.17
Price spread: −0.283% → −0.096%: −$18.69
Slippage, 4 orders: −$115.74
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$356.61
Costs to cover: 1.357%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; dYdX: live order book, 50 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, 5 min ago	1.02 bp	10.1 bp −$10	21.5 bp −$215	doesn't fit	doesn't fit
Sell dYdX live order book, 50 min ago	53.24 bp	58.2 bp −$58	58.2 bp −$582	82.6 bp −$8,262	132.5 bp −$66.2K

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	4.4517	−0.315%	$2K	—	20x	as long as short
Phemex NEARUSDT	−0.0106%	8h	4.4480	−0.399%	$3.9M	$8.2M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.4544	−0.255%	$2.2M	$14.6M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.4532	−0.283%	$110K	$70K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.4546	−0.251%	$683K	$19.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4490	−0.377%	$197K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.273%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0080%	8h	4.4757	+0.221%	$8.6M	$18.5M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4550	−0.242%	$112K	$492K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4570	−0.198%	$419K	$1.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.4520	−0.309%	$269.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4473	−0.414%	$225.5M	$422.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4500	−0.354%	$63.6M	$293.0M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4590	−0.152%	$212K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4050	−1.361%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4494	−0.367%	$32.3M	$62.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4520	−0.309%	$76.9M	$142.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4570	−0.197%	$54.8M	$43.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4464	−0.434%	$73.3M	$125.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4490	−0.376%	—	$143.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4700	+0.095%	$282K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4339	−0.714%	$1.5M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4720	+0.139%	$184K	$765K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4576	−0.184%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4464	−0.434%	$61K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4550	−0.242%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4495	−0.365%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4560	−0.219%	$461K	$3.9M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4523	−0.303%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4460	−0.443%	$3.9M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4500	−0.354%	$207K	$34K	3x	as long as short
Aster NEARUSDT	+0.0192%	8h	4.4610	−0.107%	$3.1M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0213%	1h	4.4523	−0.303%	$8.1M	$40.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0354% / S −0.0248%	1h	4.4484	−0.391%	$263K	—	100x	as long as short
Nado NEAR-PERP	+0.0365%	1h	4.4529	−0.288%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0380%	1h	4.4506	−0.340%	$1.9M	$4.2M	25x	as long as short
01 Exchange NEARUSD	+0.0424%	1h	4.4622	−0.081%	$13K	$7K	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.4591	−0.150%	$567K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4597	−0.137%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0848%	1h	4.4594	−0.143%	$1.7M	$7.0M	10x	as long as short
Hyperliquid NEAR	+0.0918%	1h	4.4599	−0.132%	$377.0M	$308.0M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0963%	1h	4.4658	long leg	$1.4M	$6.3M	20x
Aftermath Perps NEARUSD	+0.1566%	1h	4.4416	−0.541%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1736%	1h	4.4630	−0.063%	$17.8M	$25.5M	15x	as long as short