Funding you earn now, next payment 06:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h +0.115%
Price spread now: Backpack against Kraken Futures+0.114%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$420.416% of the position
Funding, last 7 days+0.217%+$22 on $10k
+Price spread, last 4 days (all we have)−0.261%−$26 · spread now +0.114%, 7d avg +0.037%
=The price spread pays, funding is against you. Backpack is 0.078% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of +0.037%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 16 days. Mind the row above: over the last 7 days funding on this pair paid +0.217%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_NEARUSD | 4.4321 | 0.0714 | pay 0.0089% / 1h | 3m 07s | $7.4M | $39.1M | 50x |
| Short | Backpack NEAR_USDC_PERP | 4.4372 | 0.0697 | get 0.0087% / 1h | 3m 07s | $1.3M | $6.5M | 20x |
Kraken Futures PF_NEARUSD
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$3.44
- Price spread: +0.114% → +0.037%
- $7.76
- Slippage, 4 orders
- −$21.6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$37.29
- Costs to cover
- 0.416%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Backpack: live order book, 1 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 Kraken Futures live order book, 1 min ago | 4.76 bp | 16.8 bp −$17 | 24.7 bp −$247 | 50.1 bp −$5,012 | 5955.7 bp −$2.98M |
| Sell Backpack live order book, 1 min ago | 2.15 bp | 7.2 bp −$7 | 18.2 bp −$182 | 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 | 4.4162 | −0.360% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4137 | −0.416% | $109K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4226 | −0.216% | $167K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −6.569% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4170 | −0.342% | $117K | $498K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4330 | +0.019% | $223.2M | $423.4M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4330 | +0.019% | $62.4M | $295.9M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3500 | −1.853% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4323 | +0.004% | $33.8M | $61.3M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4340 | +0.042% | $53.4M | $46.0M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
KuCoin NEARUSDTMShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NEARUSDT | +0.0100% | 8h | 4.4329 | +0.017% | $73.1M | $127.1M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4197 | −0.280% | $8.9M | $18.4M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4142 | −0.404% | $258K | $965K | 20x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4184 | −0.310% | $272K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4306 | −0.035% | $58K | $243K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4270 | −0.116% | $1K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4370 | +0.110% | $470K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4320 | −0.003% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.4140 | −0.410% | $32K | $608 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0111% | 8h | 4.4060 | −0.590% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0112% | 1h | 4.4369 | +0.108% | $206K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0137% | 8h | 4.4350 | +0.064% | — | $143.7M | — | as long as short |
| MEXC NEAR_USDT | +0.0143% | 8h | 4.4340 | +0.042% | $85.1M | $146.8M | 200x | as long as short |
| Binance NEARUSDT | +0.0144% | 8h | 4.4350 | +0.064% | $269.6M | $1.09B | 75x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0256% | 1h | 4.4281 | −0.091% | $2.3M | $16.4M | 50x | as long as short |
| BloFin NEAR-USDT | +0.0264% | 8h | 4.4300 | −0.048% | $13.4M | $32.7M | 75x | as long as short |
| Kalshi KXNEARPERP | +0.0312% | 8h | 4.4238 | −0.188% | $1.1M | $24.7M | 2.2x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0314% / S −0.0201% | 1h | 4.4175 | −0.331% | $236K | — | 100x | as long as short |
| Aster NEARUSDT | +0.0343% | 8h | 4.4358 | +0.083% | $2.9M | $5.2M | 50x | as long as short |
| Nado NEAR-PERP | +0.0392% | 1h | 4.4132 | −0.428% | $1.7M | $3.2M | 10x | as long as short |
| Extended NEAR-USD | +0.0448% | 1h | 4.4312 | −0.022% | $3.7M | $19.2M | 25x | as long as short |
| ApeX Omni NEARUSDT | +0.0450% | 1h | 4.4150 | −0.387% | $167K | $803K | 50x | as long as short |
| SoDEX NEAR-USD | +0.0493% | 1h | 4.4305 | −0.037% | $5K | $52K | 10x | as long as short |
| Hyperliquid NEAR | +0.0685% | 1h | 4.4387 | +0.147% | $365.4M | $311.5M | 10x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0697% | 1h | 4.4372 | +0.114% | $1.3M | $6.5M | 20x | |
| 01 Exchange NEARUSD | +0.0704% | 1h | 4.4209 | −0.254% | $13K | $7K | 10x | as long as short |
| Kraken Futures PF_NEARUSDlong | +0.0714% | 1h | 4.4321 | long leg | $7.4M | $39.1M | 50x | |
| Arcus NEAR-USD | +0.0814% | 1h | 4.4180 | −0.319% | $225K | $1.6M | 10x | as long as short |
| Pacifica NEAR | +0.0847% | 1h | 4.4167 | −0.348% | $405K | $1.4M | 10x | as long as short |
| Lighter NEAR | +0.0936% | 1h | 4.4406 | +0.192% | $17.4M | $25.3M | 15x | as long as short |
| Phoenix NEAR | +0.1033% | 1h | 4.4241 | −0.181% | $1.8M | $2.5M | 10x | as long as short |
| Lighter RH NEAR | +0.1104% | 1h | 4.4410 | +0.200% | $1.5M | $7.5M | 10x | as long as short |
| RISEx NEAR/USDC | +0.1220% | 1h | 4.4169 | −0.344% | $701K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1252% | 1h | 4.3970 | −0.793% | $5K | $12K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1443% | 1h | 4.4376 | +0.123% | $2.0M | $12.1M | 25x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
GRVT NEAR_USDT_Perp
Aevo NEAR-PERP
BingX NEAR-USDT
MEXC NEAR_USDT
Binance NEARUSDT
Coinbase International NEAR-PERP-INTX
BloFin NEAR-USDT
Kalshi KXNEARPERP
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
Nado NEAR-PERP
Extended NEAR-USD
ApeX Omni NEARUSDT
SoDEX NEAR-USD
Hyperliquid NEAR
01 Exchange NEARUSD
Arcus NEAR-USD
Pacifica NEAR
Lighter NEAR
Phoenix NEAR
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD
Deribit NEAR_USDC-PERPETUAL