NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0772%/8h= −84.6% APRnext payment −$0.97 per $10,000 · paid last 24h −0.171%

Price spread now: Pacifica against Hyperliquid−0.038%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now −0.038%, 7d avg −0.087%

Together, before fees−0.362%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.049% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.038% now, against its 7-day average of −0.087%): +$5 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.299% in total) that is about 27 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.299% in total (about -15.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.97 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	Hyperliquid NEAR	4.1144	0.0872	pay 0.0109% / 1h	10m 03s	$345.3M	$300.0M	10x
Short	Pacifica NEAR	4.1128	0.0100	get 0.0013% / 1h	10m 03s	$347K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. 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 HyperliquidbpFee PacificabpOrdersPrice spread, now −0.038%Rate

Funding earned: −$162.19
Price spread: −0.038% → −0.087%: $4.9
Slippage, 4 orders: −$13.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$187.71
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Pacifica: live order book, 4 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, 4 min ago	0.12 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 4 min ago	0.12 bp	13.5 bp −$13	doesn't fit	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	4.1083	−0.149%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1162	+0.044%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1114	−0.073%	$103K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1089	−0.134%	$395K	$18.4M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1116	−0.068%	$1.8M	$2.1M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1109	−0.084%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.647%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1100	−0.107%	$107K	$490K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1101	−0.105%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1094	−0.122%	$30K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.1111	−0.080%	$2.9M	$5.8M	50x	as long as short
Pacifica NEARshort	+0.0100%	1h	4.1128	−0.038%	$347K	$1.2M	10x
Binance NEARUSDT	+0.0100%	8h	4.1084	−0.147%	$234.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1067	−0.187%	$208.9M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1080	−0.156%	$56.1M	$273.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1150	+0.015%	$234K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1086	−0.141%	$29.2M	$58.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1090	−0.131%	$79.8M	$144.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1110	−0.083%	$55.5M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1104	−0.097%	$68.4M	$127.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1080	−0.156%	—	$136.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1114	−0.073%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1291	+0.358%	$235K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1152	+0.019%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1280	+0.331%	$181K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1118	−0.063%	$203K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1170	+0.063%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1086	−0.141%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1090	−0.131%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1116	−0.069%	$3.7M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1085	−0.143%	$199K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1120	−0.058%	$306K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0151%	1h	4.1110	−0.082%	$7.3M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0168%	1h	4.1104	−0.097%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1100	−0.107%	$12.2M	$33.4M	75x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.1139	−0.012%	$1.4M	$7.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1097	−0.115%	$271K	—	100x	as long as short
Nado NEAR-PERP	+0.0373%	1h	4.1083	−0.147%	$1.8M	$3.6M	10x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1130	−0.035%	$410K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1233	+0.216%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0740%	1h	4.1138	−0.015%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0760%	1h	4.1145	+0.002%	$15.1M	$23.0M	15x	as long as short
Hyperliquid NEARlong	+0.0872%	1h	4.1144	long leg	$345.3M	$300.0M	10x
Aftermath Perps NEARUSD	+0.0937%	1h	4.1211	+0.162%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1073%	8h	4.1250	+0.258%	$443K	$3.7M	75x	as long as short