NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0792%/8h= +86.7% APRnext payment +$0.99 per $10,000 · paid last 24h +0.243%

Price spread now: Backpack against dYdX+0.321%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1341.343% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.571%+$57 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.321%, 7d avg +0.096%

Together, before fees+0.524%+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Backpack is 0.224% dearer against dYdX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.3005	0	get 0.0000% / 1h	41m 31s	$107K	$69K	10x
Short	Backpack NEAR_USDC_PERP	4.3143	0.0792	get 0.0099% / 1h	41m 31s	$1.4M	$6.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.321%Rate

Funding earned: $166.26
Price spread: +0.321% → +0.096%: $22.44
Slippage, 4 orders: −$114.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $54.44
Costs to cover: 1.343%
Break-even: 4.7 days

Slippage from dYdX: live order book, 27 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 dYdX live order book, 27 min ago	53.24 bp	59.6 bp −$60	62.5 bp −$625	85.4 bp −$8,538	138.1 bp −$69.1K
Sell Backpack live order book, 3 min ago	2.66 bp	8.8 bp −$9	16.0 bp −$160	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	4.3134	+0.301%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3068	+0.146%	$2.1M	$13.5M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.3005	long leg	$107K	$69K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.3035	+0.069%	$510K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3038	+0.076%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.709%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0040%	8h	4.3438	+1.007%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3160	+0.360%	$115K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3084	+0.183%	$57K	$161K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3077	+0.168%	$3.0M	$5.8M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.3052	+0.108%	$407K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3180	+0.407%	$258.5M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3130	+0.290%	$219.1M	$419.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3140	+0.314%	$61.0M	$279.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3120	+0.267%	$204K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3300	+0.686%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3092	+0.202%	$30.9M	$60.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3180	+0.407%	$75.8M	$137.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3030	+0.058%	$55.3M	$42.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3151	+0.339%	$71.5M	$123.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3120	+0.267%	—	$142.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3211	+0.479%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3386	+0.886%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3250	+0.569%	$179K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3162	+0.365%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3150	+0.337%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3055	+0.116%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3060	+0.128%	$438K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3070	+0.151%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3068	+0.147%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3089	+0.196%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3069	+0.149%	$201K	$34K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0220%	1h	4.3089	+0.195%	$7.9M	$40.0M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	+0.500%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0358% / S −0.0277%	1h	4.3027	+0.051%	$258K	—	100x	as long as short
01 Exchange NEARUSD	+0.0376%	1h	4.3168	+0.379%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0449%	1h	4.3151	+0.340%	$1.9M	$3.0M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3181	+0.410%	$539K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3533	+1.227%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0680%	1h	4.3068	+0.146%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0726%	1h	4.3092	+0.202%	$1.9M	$4.1M	25x	as long as short
Hyperliquid NEAR	+0.0782%	1h	4.3211	+0.479%	$363.4M	$305.6M	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0792%	1h	4.3143	+0.321%	$1.4M	$6.0M	20x
Lighter NEAR	+0.1448%	1h	4.3086	+0.189%	$17.2M	$24.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1475%	1h	4.3205	+0.464%	$5K	$12K	10x	as long as short