Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0666%/8h= −72.9% APRpaid last 24h −0.203%

Price spread now: Paradex against Backpack+0.201%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.201% dearer against Backpack than usual: you sell high and buy low (spread +0.201% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack NEAR_USDC_PERP	4.5139	0.0766	pay 0.0096% / 1h	47m 05s	$1.1M	$7.2M	20x
Short	Paradex NEAR-USD-PERP	4.5230	0.0101	get 0.0101% / 8h	4h 47m	$33K	$389	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.201%Rate

Funding earned: −$139.82
Price spread: +0.201% → 0.000%: $20.06
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$133.76
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Backpack: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.

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, 5 min ago	0.33 bp	9.1 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0377%	1h	4.5196	+0.127%	$7.3M	$37.1M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.5198	+0.132%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.5162	+0.050%	$111K	$53K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.5282	+0.317%	$925K	$26.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.5195	+0.123%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.261%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5240	+0.224%	$125K	$511K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.5100	−0.086%	$2.7M	$5.0M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5110	−0.064%	$272.4M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5090	−0.109%	$231.5M	$429.8M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5080	−0.131%	$64.3M	$302.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4850	−0.640%	$276K	$24K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5089	−0.111%	$41.3M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5180	+0.091%	$75.9M	$169.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5220	+0.179%	$54.4M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5067	−0.160%	$75.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.5100	−0.086%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4723	−0.921%	$8.7M	$15.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4858	−0.622%	$266K	$865K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4840	−0.662%	$1.5M	$1.9M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4840	−0.662%	$168K	$810K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5235	+0.213%	$190K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5217	+0.173%	$56K	$273K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5290	+0.335%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5205	+0.146%	$5K	$34K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5250	+0.246%	$467K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.5200	+0.135%	$3.4M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERPshort	+0.0101%	8h	4.5230	+0.201%	$33K	$389	10x
Extended NEAR-USD	+0.0104%	1h	4.5075	−0.143%	$3.7M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5182	+0.095%	$210K	$38K	3x	as long as short
Lighter RH NEAR	+0.0144%	1h	4.5254	+0.255%	$1.6M	$5.7M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0191% / S −0.0033%	1h	4.5198	+0.130%	$243K	—	100x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5240	+0.224%	$12.8M	$32.7M	75x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.5281	+0.315%	$13K	$4K	10x	as long as short
Hyperliquid NEAR	+0.0242%	1h	4.5140	+0.002%	$362.8M	$312.7M	10x	as long as short
Arcus NEAR-USD	+0.0253%	1h	4.5280	+0.312%	$228K	$1.4M	10x	as long as short
Lighter NEAR	+0.0264%	1h	4.5243	+0.229%	$17.1M	$24.7M	15x	as long as short
Nado NEAR-PERP	+0.0418%	1h	4.5240	+0.224%	$1.8M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0478%	1h	4.5262	+0.273%	$647K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0544%	1h	4.5285	+0.323%	$2.4M	$17.7M	50x	as long as short
Pacifica NEAR	+0.0687%	1h	4.5198	+0.132%	$425K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0733%	1h	4.5001	−0.306%	$1.7M	$2.6M	10x	as long as short
Backpack NEAR_USDC_PERPlong	+0.0766%	1h	4.5139	long leg	$1.1M	$7.2M	20x
Aftermath Perps NEARUSD	+0.0898%	1h	4.4946	−0.428%	$6K	$6K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0989%	1h	4.5254	+0.255%	$1.9M	$13.0M	25x	as long as short