NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0414%/8h= −45.4% APRnext payment −$0.52 per $10,000 · paid last 24h +0.152%

Price spread now: Backpack against Lighter RH−0.179%55s7-day average +0.712% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.222% of the position

Long on Lighter RH Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days−0.119%−$12 · spread now −0.179%, 7d avg +0.712%

Together, before fees−0.169%+ Points / potential airdropLighter RH: Points live · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Backpack is 0.891% cheaper against Lighter RH than usual: you would sell low and buy high (−$89 if the spread goes back to its 7-day average of +0.712%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.52 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	Lighter RH NEAR	4.4206	0.1112	pay 0.0139% / 1h	4m 09s	$1.5M	$7.5M	10x
Short	Backpack NEAR_USDC_PERP	4.4127	0.0698	get 0.0087% / 1h	4m 09s	$1.3M	$6.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter RH. 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 Lighter RHbpFee BackpackbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$87
Price spread: −0.179% → +0.712%: −$89.11
Slippage, 4 orders: −$12.15
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$198.25
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Backpack: live order book, 5 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 Lighter RH live order book, 5 min ago	1.83 bp	4.2 bp −$4	10.6 bp −$106	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	1.71 bp	8.7 bp −$9	18.0 bp −$180	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	4.4107	−0.223%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4099	−0.243%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4128	−0.175%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.325%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4170	−0.081%	$117K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4168	−0.086%	$221.9M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4180	−0.059%	$62.3M	$294.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.597%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4143	−0.143%	$33.7M	$61.3M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4190	−0.036%	$53.2M	$46.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4162	−0.100%	$72.9M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4197	−0.020%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4038	−0.381%	$257K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4185	−0.048%	$272K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4168	−0.086%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	+0.077%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	−0.059%	$468K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4150	−0.127%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4101	−0.238%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0111%	8h	4.4060	−0.330%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4170	−0.081%	$205K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0133%	8h	4.4160	−0.104%	—	$143.6M	—	as long as short
MEXC NEAR_USDT	+0.0142%	8h	4.4160	−0.104%	$83.8M	$146.7M	200x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.4174	−0.073%	$268.5M	$1.09B	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4256	+0.113%	$2.3M	$16.4M	50x	as long as short
BloFin NEAR-USDT	+0.0262%	8h	4.4150	−0.127%	$13.3M	$32.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0311%	8h	4.4137	−0.156%	$1.0M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4133	−0.166%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4169	−0.085%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0391%	1h	4.4135	−0.161%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0434%	1h	4.4030	−0.398%	$168K	$797K	50x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.4132	−0.166%	$3.7M	$19.2M	25x	as long as short
SoDEX NEAR-USD	+0.0493%	1h	4.4145	−0.138%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0678%	1h	4.4170	−0.081%	$363.4M	$311.2M	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0698%	1h	4.4127	−0.179%	$1.3M	$6.5M	20x
01 Exchange NEARUSD	+0.0712%	1h	4.4229	+0.052%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0716%	1h	4.4141	−0.148%	$7.3M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4210	+0.009%	$226K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4124	−0.185%	$404K	$1.4M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.4209	+0.008%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4241	+0.079%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1109%	1h	4.4196	−0.023%	$2.0M	$12.1M	25x	as long as short
Lighter RH NEARlong	+0.1112%	1h	4.4206	long leg	$1.5M	$7.5M	10x
RISEx NEAR/USDC	+0.1220%	1h	4.4204	−0.006%	$703K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1247%	1h	4.3901	−0.689%	$5K	$12K	10x	as long as short