Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0249%/8h= −27.2% APRpaid last 24h −0.207%

Price spread now: BingX against Backpack+0.021%7-day average −0.812% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs+$46as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.488%−$49 on $10k

Price spread, last 7 days+0.369%+$37 · spread now +0.021%, 7d avg −0.812%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.833% dearer against Backpack than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.812%): +$83 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.3471	0.0438	pay 0.0055% / 1h	21m 49s	$1.0M	$7.1M	20x
Short	BingX NEAR-USDC	4.3480	0.0189	get 0.0189% / 8h	21m 49s	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$52.21
Price spread: +0.021% → −0.812%: $83.28
Slippage, 4 orders: −$16.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$5.82
Costs to cover: 0.369%
Break-even: from the start

Slippage from Backpack: live order book, 2 min ago; BingX: 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 Backpack live order book, 2 min ago	1.27 bp	6.8 bp −$7	17.5 bp −$175	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	1.15 bp	11.8 bp −$12	28.2 bp −$282	74.6 bp −$7,456	490.4 bp −$245.2K

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	4.3418	−0.122%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3382	−0.205%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3379	−0.212%	$162K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3382	−0.205%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.741%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3420	−0.117%	$113K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3480	+0.021%	$219.7M	$429.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3480	+0.021%	$61.0M	$293.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3196	−0.633%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3470	−0.002%	$35.5M	$62.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3480	+0.021%	$52.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3509	+0.087%	$72.0M	$127.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3237	−0.538%	$8.8M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3242	−0.528%	$251K	$898K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3235	−0.543%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3250	−0.508%	$165K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3439	−0.074%	$278K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3373	−0.225%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3480	+0.021%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3392	−0.182%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3410	−0.140%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3424	−0.108%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3459	−0.028%	$3.6M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3378	−0.213%	$202K	$38K	3x	as long as short
HTX NEAR-USDT	+0.0143%	8h	4.3500	+0.067%	$464K	$3.8M	75x	as long as short
Aster NEARUSDT	+0.0160%	8h	4.3484	+0.030%	$2.7M	$4.9M	50x	as long as short
Hyperliquid NEAR	+0.0172%	1h	4.3521	+0.115%	$350.8M	$315.4M	10x	as long as short
Binance NEARUSDT	+0.0176%	8h	4.3494	+0.052%	$263.4M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0178%	8h	4.3425	−0.106%	$941K	$25.1M	2.2x	as long as short
MEXC NEAR_USDT	+0.0178%	8h	4.3490	+0.044%	$85.3M	$152.1M	200x	as long as short
BingX NEAR-USDCshort	+0.0189%	8h	4.3480	+0.021%	—	$6.7M	—
01 Exchange NEARUSD	+0.0248%	1h	4.3456	−0.035%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0298%	8h	4.3450	−0.048%	$13.4M	$32.0M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0318% / S −0.0206%	1h	4.3384	−0.201%	$235K	—	100x	as long as short
Nado NEAR-PERP	+0.0405%	1h	4.3395	−0.175%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0438%	1h	4.3471	long leg	$1.0M	$7.1M	20x
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3429	−0.097%	$2.3M	$16.9M	50x	as long as short
Lighter RH NEAR	+0.0560%	1h	4.3461	−0.023%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0592%	1h	4.3465	−0.013%	$17.1M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3440	−0.071%	$228K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0696%	1h	4.3398	−0.168%	$1.9M	$13.2M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3412	−0.135%	$409K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3360	−0.255%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3445	−0.061%	$606K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1168%	1h	4.3315	−0.360%	$5K	$7K	10x	as long as short