Funding you earn now, next payment 09:00 UTC−0.0425%/8h= −46.5% APRnext payment −$0.53 per $10,000 · paid last 24h −0.209%
Price spread now: Popdex against Backpack−0.521%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$370.367% of the position
Funding, last 4 days (all we have)−0.352%−$35 on $10k
+Price spread, last 4 days (all we have)+0.392%+$39 · spread now −0.521%, 7d avg −0.071%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Popdex is 0.450% cheaper against Backpack than usual: you would sell low and buy high (−$45 if the spread goes back to its 7-day average of −0.071%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack NEAR_USDC_PERP | 4.3919 | 0.0521 | pay 0.0065% / 1h | 27m 53s | $1.1M | $7.2M | 20x |
| Short | Popdex NEARUSDT | 4.3690 | 0.0096 | get 0.0012% / 1h | 27m 53s | $120K | $503K | 50x |
Backpack NEAR_USDC_PERP
Popdex NEARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Backpack. 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
- −$89.26
- Price spread: −0.521% → −0.071%
- −$45.04
- Slippage, 4 orders
- −$20.27
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$170.97
- Costs to cover
- 0.367%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Popdex: live order book, 6 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, 1 min ago | 1.60 bp | 7.9 bp −$8 | 14.9 bp −$149 | doesn't fit | doesn't fit |
| Sell Popdex live order book, 6 min ago | 4.59 bp | 9.7 bp −$10 | 58.0 bp −$580 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_NEARUSD | −0.0430% | 1h | 4.3878 | −0.094% | $7.2M | $38.6M | 50x | as long as short |
| Reya NEARRUSDPERP | −0.0171% | 1h | 4.3733 | −0.423% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3716 | −0.463% | $107K | $65K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3779 | −0.318% | $164K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.713% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDTshort | +0.0096% | 1h | 4.3690 | −0.521% | $120K | $503K | 50x | |
| Aster NEARUSDT | +0.0100% | 8h | 4.3860 | −0.135% | $2.7M | $4.7M | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.3850 | −0.158% | $264.5M | $1.08B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3839 | −0.182% | $220.9M | $427.3M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3820 | −0.225% | $61.8M | $295.5M | 50x | as long as short |
Kraken Futures PF_NEARUSD
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Aster NEARUSDT
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAPShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus NEAR-USD | +0.0100% | 1h | 4.3720 | −0.453% | $221K | $1.5M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3750 | −0.385% | $252K | $3K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3846 | −0.166% | $36.8M | $62.3M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3860 | −0.134% | $91.0M | $157.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3870 | −0.112% | $52.7M | $45.4M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3822 | −0.221% | $72.4M | $127.6M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3688 | −0.526% | $9.0M | $18.1M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3715 | −0.465% | $253K | $896K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3710 | −0.476% | $1.4M | $1.6M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3730 | −0.430% | $165K | $825K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3715 | −0.464% | $273K | $4.0M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3911 | −0.018% | $57K | $238K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3760 | −0.362% | $2K | $1.3M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3880 | −0.089% | $5K | $49K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3900 | −0.043% | $3.5M | $8.1M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.3729 | −0.433% | $32K | $585 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3848 | −0.161% | $3.6M | $15.5M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3885 | −0.077% | $204K | $40K | 3x | as long as short |
| BingX NEAR-USDC | +0.0107% | 8h | 4.3830 | −0.203% | — | $6.6M | — | as long as short |
| Kalshi KXNEARPERP | +0.0140% | 8h | 4.3751 | −0.383% | $868K | $25.4M | 2.2x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.3790 | −0.294% | $12.7M | $32.4M | 75x | as long as short |
| Hyperliquid NEAR | +0.0255% | 1h | 4.3917 | −0.005% | $354.9M | $316.4M | 10x | as long as short |
| Nado NEAR-PERP | +0.0260% | 1h | 4.3710 | −0.476% | $1.7M | $3.2M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0320% | 1h | 4.3719 | −0.455% | $13K | $6K | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0354% / S −0.0231% | 1h | 4.3740 | −0.407% | $269K | — | 100x | as long as short |
| Lighter NEAR | +0.0416% | 1h | 4.3924 | +0.011% | $17.3M | $23.9M | 15x | as long as short |
| HTX NEAR-USDT | +0.0435% | 8h | 4.4010 | +0.207% | $465K | $3.7M | 75x | as long as short |
| Lighter RH NEAR | +0.0448% | 1h | 4.3951 | +0.073% | $1.5M | $6.5M | 10x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0488% | 1h | 4.3931 | +0.027% | $2.3M | $17.2M | 50x | as long as short |
| Backpack NEAR_USDC_PERPlong | +0.0521% | 1h | 4.3919 | long leg | $1.1M | $7.2M | 20x | |
| RISEx NEAR/USDC | +0.0656% | 1h | 4.3707 | −0.482% | $590K | $1.5M | 10x | as long as short |
| Pacifica NEAR | +0.0701% | 1h | 4.3735 | −0.419% | $412K | $1.4M | 10x | as long as short |
| Phoenix NEAR | +0.0740% | 1h | 4.3734 | −0.421% | $1.8M | $2.4M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0912% | 1h | 4.3929 | +0.023% | $1.9M | $13.1M | 25x | as long as short |
| Aftermath Perps NEARUSD | +0.1031% | 1h | 4.3760 | −0.363% | $5K | $7K | 10x | as long as short |
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
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
BingX NEAR-USDC
Kalshi KXNEARPERP
BloFin NEAR-USDT
Hyperliquid NEAR
Nado NEAR-PERP
01 Exchange NEARUSD
GMX NEAR/USD [ETH-USDC]
Lighter NEAR
HTX NEAR-USDT
Lighter RH NEAR
Coinbase International NEAR-PERP-INTX
RISEx NEAR/USDC
Pacifica NEAR
Phoenix NEAR
Deribit NEAR_USDC-PERPETUAL
Aftermath Perps NEARUSD