Funding you earn now, next payment 08:00 UTC−0.0194%/8h= −21.3% APRnext payment −$0.24 per $10,000 · paid last 24h +0.144%
Price spread now: Backpack against Arcus+0.149%7-day average +0.828% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$280.281% of the position
Funding, last 4 days (all we have)−0.011%−$1 on $10k
+Price spread, last 7 days−0.797%−$80 · spread now +0.149%, 7d avg +0.828%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Backpack is 0.678% cheaper against Arcus than usual: you would sell low and buy high (−$68 if the spread goes back to its 7-day average of +0.828%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.011% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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 | Arcus NEAR-USD | 4.3520 | 0.0638 | pay 0.0080% / 1h | 20m 19s | $229K | $1.6M | 10x |
| Short | Backpack NEAR_USDC_PERP | 4.3585 | 0.0444 | get 0.0055% / 1h | 20m 19s | $1.0M | $7.1M | 20x |
Arcus NEAR-USD
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Arcus. 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
- −$40.76
- Price spread: +0.149% → +0.828%
- −$67.85
- Slippage, 4 orders
- −$13.59
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$136.69
- Costs to cover
- 0.281%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 4 min ago; Backpack: 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 Arcus live order book, 4 min ago | 3.46 bp | 6.9 bp −$7 | 10.2 bp −$102 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 1.27 bp | 7.5 bp −$8 | 15.6 bp −$156 | 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 | 4.3508 | −0.028% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3523 | +0.006% | $107K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3521 | +0.003% | $163K | — | 150x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0017% | 1h | 4.3507 | −0.031% | $7.1M | $38.3M | 50x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −4.848% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3520 | 0.000% | $114K | $498K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3520 | 0.000% | $219.8M | $428.9M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3530 | +0.023% | $61.1M | $294.6M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3196 | −0.745% | $246K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3518 | −0.005% | $35.5M | $62.7M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Kraken Futures PF_NEARUSD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3530 | +0.023% | $52.7M | $46.0M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3531 | +0.025% | $72.1M | $127.8M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3517 | −0.006% | $8.9M | $18.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3412 | −0.248% | $252K | $899K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3235 | −0.655% | $1.4M | $1.6M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3430 | −0.207% | $166K | $815K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3538 | +0.041% | $278K | $4.2M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3550 | +0.069% | $58K | $235K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3600 | +0.184% | $2K | $1.3M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3530 | +0.023% | $5K | $50K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3520 | 0.000% | $3.5M | $8.2M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.3493 | −0.062% | $31K | $585 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3479 | −0.094% | $3.6M | $16.9M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0128% | 1h | 4.3570 | +0.115% | $203K | $38K | 3x | as long as short |
| HTX NEAR-USDT | +0.0145% | 8h | 4.3650 | +0.299% | $465K | $3.8M | 75x | as long as short |
| Aster NEARUSDT | +0.0154% | 8h | 4.3534 | +0.033% | $2.7M | $4.9M | 50x | as long as short |
| Hyperliquid NEAR | +0.0163% | 1h | 4.3538 | +0.041% | $350.9M | $315.5M | 10x | as long as short |
| Binance NEARUSDT | +0.0174% | 8h | 4.3540 | +0.046% | $263.7M | $1.09B | 75x | as long as short |
| MEXC NEAR_USDT | +0.0176% | 8h | 4.3540 | +0.046% | $88.3M | $152.6M | 200x | as long as short |
| Kalshi KXNEARPERP | +0.0177% | 8h | 4.3466 | −0.124% | $967K | $25.0M | 2.2x | as long as short |
| BingX NEAR-USDC | +0.0184% | 8h | 4.3530 | +0.023% | — | $6.7M | — | as long as short |
| 01 Exchange NEARUSD | +0.0240% | 1h | 4.3528 | +0.018% | $13K | $7K | 10x | as long as short |
| BloFin NEAR-USDT | +0.0296% | 8h | 4.3520 | 0.000% | $13.4M | $32.1M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0319% / S −0.0207% | 1h | 4.3525 | +0.012% | $235K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0391% | 1h | 4.3525 | +0.011% | $1.7M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0444% | 1h | 4.3585 | +0.149% | $1.0M | $7.1M | 20x | |
| Coinbase International NEAR-PERP-INTX | +0.0488% | 1h | 4.3528 | +0.018% | $2.3M | $16.9M | 50x | as long as short |
| Lighter RH NEAR | +0.0552% | 1h | 4.3592 | +0.165% | $1.5M | $6.7M | 10x | as long as short |
| Lighter NEAR | +0.0584% | 1h | 4.3596 | +0.174% | $17.2M | $25.3M | 15x | as long as short |
| Arcus NEAR-USDlong | +0.0638% | 1h | 4.3520 | long leg | $229K | $1.6M | 10x | |
| Deribit NEAR_USDC-PERPETUAL | +0.0922% | 1h | 4.3571 | +0.117% | $1.9M | $13.2M | 25x | as long as short |
| Pacifica NEAR | +0.0949% | 1h | 4.3548 | +0.064% | $410K | $1.4M | 10x | as long as short |
| Phoenix NEAR | +0.0949% | 1h | 4.3607 | +0.200% | $1.8M | $2.4M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0965% | 1h | 4.3510 | −0.024% | $607K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1148% | 1h | 4.3385 | −0.310% | $5K | $7K | 10x | as long as short |
KuCoin NEARUSDTM
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Extended NEAR-USD
Aevo NEAR-PERP
HTX NEAR-USDT
Aster NEARUSDT
Hyperliquid NEAR
Binance NEARUSDT
MEXC NEAR_USDT
Kalshi KXNEARPERP
BingX NEAR-USDC
01 Exchange NEARUSD
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
Coinbase International NEAR-PERP-INTX
Lighter RH NEAR
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
Pacifica NEAR
Phoenix NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD