Funding you earn now, next payment 23:00 UTC+0.0363%/8h= +39.7% APRnext payment +$0.45 per $10,000 · paid last 24h +0.170%
Price spread now: Backpack against Deribit+0.026%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$290.291% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 3 days (all we have)−0.286%−$29 · spread now +0.026%, 7d avg +0.006%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Backpack is 0.021% dearer against Deribit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.006%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.45 per $10,000. 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 | Deribit NEAR_USDC-PERPETUAL | 4.2148 | 0.0154 | pay 0.0019% / 1h | 13m 49s | $1.9M | $2.2M | 25x |
| Short | Backpack NEAR_USDC_PERP | 4.2159 | 0.0517 | get 0.0065% / 1h | 13m 49s | $1.2M | $5.6M | 20x |
Deribit NEAR_USDC-PERPETUAL
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $76.22
- Price spread: +0.026% → +0.006%
- $2.06
- Slippage, 4 orders
- −$12.07
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $49.2
- Costs to cover
- 0.291%
- Break-even
- 2.5 days
Slippage from Deribit: live order book, just now; Backpack: live order book, just now.
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 Deribit live order book, just now | 3.68 bp | 7.2 bp −$7 | 15.4 bp −$154 | doesn't fit | doesn't fit |
| Sell Backpack live order book, just now | 0.71 bp | 7.8 bp −$8 | 15.1 bp −$151 | 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 | 4.2123 | −0.059% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0032% | 1h | 4.2129 | −0.045% | $2.2M | $12.7M | 50x | as long as short |
| Injective NEAR/USDC PERP | −0.0002% | 1h | 4.1410 | −1.751% | $578 | $302K | 12x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.2152 | +0.008% | $109K | $58K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.2119 | −0.069% | $446K | $18.4M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.2142 | −0.014% | $209K | — | 150x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0048% | 1h | 4.2136 | −0.028% | $7.7M | $36.2M | 50x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2160 | +0.028% | $108K | $487K | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.2145 | −0.007% | $30K | $647 | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.2186 | +0.091% | $3.0M | $5.7M | 50x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
Injective NEAR/USDC PERP
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Kraken Futures PF_NEARUSD
Popdex NEARUSDT
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 | 4.2170 | +0.053% | $364K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.2110 | −0.090% | $242.1M | $1.06B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.2095 | −0.126% | $215.1M | $418.6M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.2090 | −0.138% | $58.6M | $276.3M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.2150 | +0.005% | $227K | $1.7M | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.2120 | −0.066% | $30.1M | $58.1M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.2110 | −0.090% | $83.4M | $143.0M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.2150 | +0.005% | $55.4M | $43.5M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.2091 | −0.135% | $69.8M | $124.4M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.2100 | −0.114% | — | $137.3M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.2040 | −0.257% | $7.8M | $18.1M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.2112 | −0.084% | $246K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.2084 | −0.151% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.2120 | −0.066% | $176K | $793K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2184 | +0.085% | $204K | $3.2M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.2125 | −0.055% | $56K | $194K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.2200 | +0.123% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.2108 | −0.095% | $5K | $46K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.2130 | −0.043% | $3.9M | $8.1M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.2042 | −0.252% | $240K | $2K | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.2119 | −0.070% | $3.9M | $14.7M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.2106 | −0.100% | $203K | $62K | 3x | as long as short |
| Lighter RH NEAR | +0.0120% | 1h | 4.2174 | +0.062% | $1.5M | $7.0M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0128% | 1h | 4.2190 | +0.100% | $12K | $7K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUALlong | +0.0154% | 1h | 4.2148 | long leg | $1.9M | $2.2M | 25x | |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.2130 | −0.043% | $12.4M | $31.9M | 75x | as long as short |
| RISEx NEAR/USDC | +0.0364% | 1h | 4.2183 | +0.083% | $411K | $1.2M | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0385% / S −0.0332% | 1h | 4.2134 | −0.033% | $286K | — | 100x | as long as short |
| Hyperliquid NEAR | +0.0483% | 1h | 4.2201 | +0.126% | $358.1M | $294.3M | 10x | as long as short |
| Nado NEAR-PERP | +0.0498% | 1h | 4.2146 | −0.004% | $1.9M | $3.5M | 10x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0517% | 1h | 4.2159 | +0.026% | $1.2M | $5.6M | 20x | |
| Phoenix NEAR | +0.0542% | 1h | 4.2164 | +0.038% | $1.7M | $2.7M | 10x | as long as short |
| Lighter NEAR | +0.0928% | 1h | 4.2231 | +0.196% | $16.3M | $23.6M | 15x | as long as short |
| HTX NEAR-USDT | +0.0939% | 8h | 4.2290 | +0.337% | $453K | $3.5M | 75x | as long as short |
| Aftermath Perps NEARUSD | +0.0984% | 1h | 4.2105 | −0.101% | $5K | $11K | 10x | as long as short |
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDT
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
Bulk NEAR-USD
Extended NEAR-USD
Aevo NEAR-PERP
Lighter RH NEAR
01 Exchange NEARUSD
BloFin NEAR-USDT
RISEx NEAR/USDC
GMX NEAR/USD [ETH-USDC]
Hyperliquid NEAR
Nado NEAR-PERP
Phoenix NEAR
Lighter NEAR
HTX NEAR-USDT
Aftermath Perps NEARUSD