NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0623%/8h= +68.3% APRnext payment +$0.78 per $10,000 · paid last 24h +0.264%

Price spread now: Backpack against Coinbase International+0.209%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs+$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.595%+$60 on $10k

Price spread, last 3 days (all we have)−0.308%−$31 · spread now +0.209%, 7d avg +0.091%

Together, before fees+0.287%+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Backpack is 0.118% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.3574	−0.0016	get 0.0002% / 1h	57m 22s	$2.2M	$14.1M	50x
Short	Backpack NEAR_USDC_PERP	4.3665	0.0607	get 0.0076% / 1h	57m 22s	$1.5M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.209%Rate

Funding earned: $130.92
Price spread: +0.209% → +0.091%: $11.8
Slippage, 4 orders: −$20.93
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $101.79
Costs to cover: 0.409%
Break-even: 1.6 days

Slippage from Coinbase International: live order book, 2 min ago; Backpack: live order book, 2 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 Coinbase International live order book, 2 min ago	3.78 bp	12.8 bp −$13	20.2 bp −$202	443.8 bp −$44.4K	doesn't fit
Sell Backpack live order book, 2 min ago	1.95 bp	8.3 bp −$8	17.9 bp −$179	doesn't fit	doesn't fit

NEAR on 44 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	4.3576	+0.004%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXlong	−0.0016%	1h	4.3574	long leg	$2.2M	$14.1M	50x
dYdX NEAR-USD	0.0000%	1h	4.3547	−0.063%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3643	+0.158%	$555K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3692	+0.271%	$197K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.966%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3570	−0.009%	$115K	$488K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3569	−0.012%	$411K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3702	+0.295%	$265.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3696	+0.280%	$220.4M	$416.7M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3680	+0.243%	$62.0M	$288.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	−0.043%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3647	+0.168%	$31.5M	$61.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3580	+0.014%	$75.7M	$139.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3560	−0.032%	$53.8M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3673	+0.227%	$71.7M	$126.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3690	+0.266%	—	$143.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.130%	$8.4M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3545	−0.067%	$269K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3589	+0.035%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3630	+0.129%	$194K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3641	+0.154%	$202K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3716	+0.326%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3750	+0.404%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3645	+0.163%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3680	+0.243%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3630	+0.129%	$3.8M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3503	−0.163%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3494	−0.183%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3685	+0.255%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0184%	8h	4.3576	+0.005%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0347% / S −0.0243%	1h	4.3679	+0.242%	$255K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0391%	1h	4.3727	+0.351%	$1.9M	$4.3M	25x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3604	+0.069%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3560	−0.032%	$207K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0463%	1h	4.3580	+0.014%	$1.9M	$3.1M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3584	+0.023%	$1.8M	$2.5M	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0607%	1h	4.3665	+0.209%	$1.5M	$6.3M	20x
Kraken Futures PF_NEARUSD	+0.0705%	1h	4.3674	+0.230%	$8.2M	$41.1M	50x	as long as short
Hyperliquid NEAR	+0.0787%	1h	4.3658	+0.193%	$367.5M	$306.3M	10x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3628	+0.124%	$1.6M	$6.9M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3566	−0.019%	$549K	$1.3M	10x	as long as short
Lighter NEAR	+0.1344%	1h	4.3642	+0.155%	$17.4M	$25.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1701%	1h	4.3682	+0.247%	$5K	$12K	10x	as long as short