Funding you earn now, next payment 22:00 UTC+0.0638%/8h= +69.9% APRpaid last 24h +0.207%
Price spread now: Backpack against Binance0.000%55s7-day average +0.765% · you buy dearer than you sell
Net, funding: paid 7d − costs+$8as 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−$300.304% of the position
Funding, last 7 days+0.384%+$38 on $10k
+Price spread, last 7 days−1.042%−$104 · spread now 0.000%, 7d avg +0.765%
=Funding pays, the price is against you. Backpack is 0.765% cheaper against Binance than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.765%). If the spread goes back, that is −$76 on $10k: about 4.0 days of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.384% in total) that is about 14 days. 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 0.384% in total (about 20.0% a year). A funding rate is set anew for every payment. 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 | Binance NEARUSDT | 4.1244 | 0.0100 | pay 0.0100% / 8h | 2h 06m | $235.0M | $1.08B | 75x |
| Short | Backpack NEAR_USDC_PERP | 4.1244 | 0.0738 | get 0.0092% / 1h | 6m 16s | $1.4M | $5.7M | 20x |
Binance NEARUSDT
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $134.04
- Price spread: 0.000% → +0.765%
- −$76.46
- Slippage, 4 orders
- −$10.36
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $27.22
- Costs to cover
- 0.304%
- Break-even
- 5.6 days
Slippage from Binance: live order book, 8 min ago; Backpack: live order book, 3 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 Binance live order book, 8 min ago | 1.21 bp | 8.5 bp −$8 | 13.5 bp −$135 | 27.6 bp −$2,761 | 113.9 bp −$56.9K |
| Sell Backpack live order book, 3 min ago | 0.97 bp | 6.8 bp −$7 | 17.2 bp −$172 | 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 | 4.1202 | −0.102% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0024% | 1h | 4.1380 | +0.330% | $2.1M | $12.6M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.1169 | −0.182% | $103K | $54K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.1198 | −0.112% | $396K | $18.3M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.1225 | −0.046% | $204K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | +0.402% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.1210 | −0.083% | $107K | $490K | 50x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0099% | 8h | 4.1240 | −0.010% | $53K | $157K | 20x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.1168 | −0.185% | $30K | $647 | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.1265 | +0.051% | $2.9M | $5.9M | 50x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Orderly PERP_NEAR_USDC
Paradex NEAR-USD-PERP
Aster NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NEAR | +0.0100% | 1h | 4.1193 | −0.123% | $347K | $1.2M | 10x | as long as short |
| Binance NEARUSDTlong | +0.0100% | 8h | 4.1244 | long leg | $235.0M | $1.08B | 75x | |
| Bybit NEARUSDT | +0.0100% | 8h | 4.1220 | −0.058% | $209.8M | $428.6M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.1230 | −0.034% | $56.2M | $275.0M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.1150 | −0.228% | $234K | $6K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.1218 | −0.063% | $29.3M | $58.4M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.1250 | +0.014% | $80.4M | $145.0M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.1240 | −0.010% | $55.7M | $44.9M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.1220 | −0.058% | $68.5M | $126.8M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.1210 | −0.083% | — | $6.6M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.1114 | −0.315% | $7.6M | $18.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.1204 | −0.097% | $235K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.1290 | +0.111% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.1210 | −0.083% | $181K | $792K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.1233 | −0.027% | $200K | $3.1M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.1230 | −0.034% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.1228 | −0.039% | $5K | $46K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.1240 | −0.010% | $3.8M | $8.2M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.1219 | −0.060% | $3.7M | $14.6M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.1230 | −0.034% | $200K | $61K | 3x | as long as short |
| Arcus NEAR-USD | +0.0118% | 1h | 4.1200 | −0.107% | $306K | $1.6M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0150% | 1h | 4.1260 | +0.040% | $7.3M | $36.9M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0160% | 1h | 4.1229 | −0.036% | $12K | $7K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0162% | 1h | 4.1262 | +0.044% | $1.8M | $2.1M | 25x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.1230 | −0.034% | $12.2M | $33.5M | 75x | as long as short |
| Lighter RH NEAR | +0.0256% | 1h | 4.1286 | +0.102% | $1.4M | $7.2M | 10x | as long as short |
| Nado NEAR-PERP | +0.0363% | 1h | 4.1215 | −0.070% | $1.8M | $3.6M | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0376% / S −0.0323% | 1h | 4.1219 | −0.060% | $275K | — | 100x | as long as short |
| RISEx NEAR/USDC | +0.0569% | 1h | 4.1229 | −0.038% | $410K | $1.2M | 10x | as long as short |
| Phoenix NEAR | +0.0582% | 1h | 4.1365 | +0.293% | $1.7M | $2.8M | 10x | as long as short |
| Lighter NEAR | +0.0736% | 1h | 4.1299 | +0.132% | $15.2M | $23.1M | 15x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0738% | 1h | 4.1244 | 0.000% | $1.4M | $5.7M | 20x | |
| Hyperliquid NEAR | +0.0855% | 1h | 4.1276 | +0.077% | $346.5M | $298.9M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.0949% | 1h | 4.1250 | +0.014% | $5K | $11K | 10x | as long as short |
| HTX NEAR-USDT | +0.1067% | 8h | 4.1300 | +0.136% | $444K | $3.7M | 75x | as long as short |
Pacifica NEAR
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
01 Exchange NEARUSD
Deribit NEAR_USDC-PERPETUAL
BloFin NEAR-USDT
Lighter RH NEAR
Nado NEAR-PERP
GMX NEAR/USD [ETH-USDC]
RISEx NEAR/USDC
Phoenix NEAR
Lighter NEAR
Hyperliquid NEAR
Aftermath Perps NEARUSD
HTX NEAR-USDT