Funding you earn now, next payment 05:00 UTC+0.0017%/8h= +1.9% APRnext payment +$0.02 per $10,000 · paid last 24h +0.041%
Price spread now: Backpack against Hyperliquid−0.021%7-day average +0.735% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$310.305% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 7 days−0.372%−$37 · spread now −0.021%, 7d avg +0.735%
=Together, before fees−0.370%+ Points / potential airdropHyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.756% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.735%). If the spread goes back, that is −$76 on $10k: about 5 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.002% in total) that is about years.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid NEAR | 4.2917 | 0.0545 | pay 0.0068% / 1h | 1m 06s | $351.1M | $313.4M | 10x |
| Short | Backpack NEAR_USDC_PERP | 4.2908 | 0.0562 | get 0.0070% / 1h | 1m 06s | $1.3M | $6.8M | 20x |
Hyperliquid NEAR
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- $3.61
- Price spread: −0.021% → +0.735%
- −$75.56
- Slippage, 4 orders
- −$11.52
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$102.46
- Costs to cover
- 0.305%
- Break-even
- 205.4 days
Slippage from Hyperliquid: live order book, 13 min ago; Backpack: live order book, 3 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 Hyperliquid live order book, 13 min ago | 0.69 bp | 5.2 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 1.75 bp | 8.9 bp −$9 | 18.4 bp −$184 | doesn't fit | doesn't fit |
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 | 4.2898 | −0.044% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.2921 | +0.008% | $106K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.2865 | −0.121% | $161K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −3.511% | $578 | $301K | 12x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0056% | 1h | 4.2938 | +0.049% | $2.3M | $15.7M | 50x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2950 | +0.077% | $111K | $501K | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.2906 | −0.026% | $261.6M | $1.09B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.2865 | −0.121% | $212.4M | $426.2M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.2880 | −0.086% | $60.6M | $285.3M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.2973 | +0.130% | $245K | −$0 | 10x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Coinbase International NEAR-PERP-INTX
Popdex NEARUSDT
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USDShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate NEAR_USDT | +0.0100% | 8h | 4.2856 | −0.142% | $31.8M | $62.8M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.2920 | +0.007% | $72.5M | $147.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.2910 | −0.016% | $53.3M | $45.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.2870 | −0.110% | $70.9M | $127.4M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.2870 | −0.110% | — | $144.5M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.2857 | −0.139% | $8.1M | $17.9M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.2978 | +0.143% | $251K | $950K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.2967 | +0.117% | $1.4M | $1.5M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.2960 | +0.100% | $165K | $794K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2944 | +0.063% | $267K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.2906 | −0.026% | $57K | $246K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3030 | +0.263% | $1K | $1.4M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.2990 | +0.170% | $458K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.2920 | +0.007% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.2917 | +0.001% | $31K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.2910 | −0.016% | $200K | $37K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.2930 | +0.030% | $13.4M | $31.6M | 75x | as long as short |
| Kalshi KXNEARPERP | +0.0250% | 8h | 4.2955 | +0.089% | $773K | $23.9M | 2.2x | as long as short |
| Pacifica NEAR | +0.0263% | 1h | 4.2952 | +0.082% | $396K | $1.3M | 10x | as long as short |
| SoDEX NEAR-USD | +0.0303% | 1h | 4.2885 | −0.075% | $6K | $53K | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0322% / S −0.0198% | 1h | 4.2856 | −0.142% | $231K | — | 100x | as long as short |
| Aster NEARUSDT | +0.0331% | 8h | 4.2900 | −0.040% | $2.8M | $5.5M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0520% | 1h | 4.2979 | +0.144% | $13K | $7K | 10x | as long as short |
| Extended NEAR-USD | +0.0528% | 1h | 4.2872 | −0.105% | $3.7M | $19.8M | 25x | as long as short |
| Hyperliquid NEARlong | +0.0545% | 1h | 4.2917 | long leg | $351.1M | $313.4M | 10x | |
| Backpack NEAR_USDC_PERPshort | +0.0562% | 1h | 4.2908 | −0.021% | $1.3M | $6.8M | 20x | |
| Nado NEAR-PERP | +0.0562% | 1h | 4.2935 | +0.042% | $1.8M | $3.1M | 10x | as long as short |
| Arcus NEAR-USD | +0.0627% | 1h | 4.2990 | +0.170% | $211K | $1.6M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0719% | 1h | 4.2886 | −0.073% | $7.5M | $38.9M | 50x | as long as short |
| Lighter RH NEAR | +0.0904% | 1h | 4.2944 | +0.063% | $1.5M | $7.4M | 10x | as long as short |
| Phoenix NEAR | +0.0941% | 1h | 4.3300 | +0.892% | $1.8M | $2.8M | 10x | as long as short |
| Lighter NEAR | +0.1024% | 1h | 4.2954 | +0.086% | $17.3M | $25.1M | 15x | as long as short |
| RISEx NEAR/USDC | +0.1162% | 1h | 4.2972 | +0.128% | $666K | $1.3M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1290% | 1h | 4.2935 | +0.042% | $1.9M | $10.0M | 25x | as long as short |
| Aftermath Perps NEARUSD | +0.1500% | 1h | 4.3028 | +0.258% | $5K | $12K | 10x | as long as short |
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
BloFin NEAR-USDT
Kalshi KXNEARPERP
Pacifica NEAR
SoDEX NEAR-USD
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
01 Exchange NEARUSD
Extended NEAR-USD
Nado NEAR-PERP
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
Lighter RH NEAR
Phoenix NEAR
Lighter NEAR
RISEx NEAR/USDC
Deribit NEAR_USDC-PERPETUAL
Aftermath Perps NEARUSD