Funding you earn now, next payment 10:00 UTC+0.0636%/8h= +69.6% APRnext payment +$0.79 per $10,000 · paid last 24h +0.227%
Price spread now: Backpack against Injective+9.430%7-day average −0.428% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.399%+$40 on $10k
+Price spread, last 4 days (all we have)−11.383%−$1,138 · spread now +9.430%, 7d avg −0.428%
=Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Backpack is 9.858% dearer against Injective than usual: you sell high and buy low: +$986 more if the spread goes back to its 7-day average of −0.428%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.399% in total (about 20.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.79 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 | Injective NEAR/USDC PERP | 4.1410 | 0.0033 | pay 0.0004% / 1h | 58m 13s | $578 | $301K | 12x |
| Short | Backpack NEAR_USDC_PERP | 4.5315 | 0.0669 | get 0.0084% / 1h | 58m 13s | $1.1M | $7.2M | 20x |
Injective NEAR/USDC PERP
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $133.51
- Price spread: +9.430% → −0.428%
- $985.78
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $1,109.27
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 1 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 1 min ago | 1.65 bp | 6.7 bp −$7 | 14.1 bp −$141 | doesn't fit | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 4.5367 | +9.555% | $2K | — | 20x | as long as short |
| Kraken Futures PF_NEARUSD | −0.0140% | 1h | 4.5265 | +9.309% | $7.4M | $38.6M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.5257 | +9.291% | $110K | $53K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.5437 | +9.725% | $170K | — | 150x | as long as short |
| Injective NEAR/USDC PERPlong | +0.0033% | 1h | 4.1410 | long leg | $578 | $301K | 12x | |
| Popdex NEARUSDT | +0.0096% | 1h | 4.5340 | +9.490% | $119K | $522K | 50x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.5270 | +9.321% | $2.7M | $4.7M | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.5290 | +9.370% | $275.1M | $1.10B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.5300 | +9.394% | $235.3M | $434.8M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.5290 | +9.370% | $64.4M | $309.7M | 50x | as long as short |
Reya NEARRUSDPERP
Kraken Futures PF_NEARUSD
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Popdex NEARUSDT
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 | 4.5370 | +9.563% | $234K | $1.4M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.5050 | +8.790% | $260K | $3K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.5276 | +9.336% | $38.9M | $61.1M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.5320 | +9.442% | $83.3M | $162.3M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.5340 | +9.490% | $53.9M | $45.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.5259 | +9.295% | $74.7M | $128.3M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.5300 | +9.394% | — | $82.7M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.5317 | +9.434% | $9.4M | $17.8M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.5428 | +9.702% | $268K | $901K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.5362 | +9.544% | $1.5M | $1.6M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.5390 | +9.611% | $169K | $826K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.5323 | +9.449% | $282K | $4.0M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.5296 | +9.384% | $59K | $269K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.5350 | +9.515% | $1K | $1.3M | 20x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.5260 | +9.297% | $3.5M | $8.0M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.5268 | +9.316% | $3.8M | $15.0M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.5305 | +9.406% | $211K | $38K | 3x | as long as short |
| Paradex NEAR-USD-PERP | +0.0109% | 8h | 4.5315 | +9.431% | $33K | $413 | 10x | as long as short |
| Kalshi KXNEARPERP | +0.0125% | 8h | 4.5293 | +9.377% | $858K | $25.5M | 2.2x | as long as short |
| HTX NEAR-USDT | +0.0218% | 8h | 4.5350 | +9.515% | $479K | $3.8M | 75x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.5280 | +9.346% | $12.7M | $33.4M | 75x | as long as short |
| Hyperliquid NEAR | +0.0238% | 1h | 4.5358 | +9.534% | $368.7M | $321.3M | 10x | as long as short |
| SoDEX NEAR-USD | +0.0253% | 1h | 4.5275 | +9.333% | $5K | $44K | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0344% | 1h | 4.5356 | +9.529% | $13K | $5K | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0347% / S −0.0242% | 1h | 4.5333 | +9.473% | $265K | — | 100x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0520% | 1h | 4.5365 | +9.551% | $2.3M | $18.0M | 50x | as long as short |
| RISEx NEAR/USDC | +0.0569% | 1h | 4.5355 | +9.527% | $649K | $1.6M | 10x | as long as short |
| Lighter NEAR | +0.0592% | 1h | 4.5325 | +9.454% | $17.8M | $23.3M | 15x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0669% | 1h | 4.5315 | +9.430% | $1.1M | $7.2M | 20x | |
| Lighter RH NEAR | +0.0688% | 1h | 4.5327 | +9.459% | $1.6M | $6.0M | 10x | as long as short |
| Phoenix NEAR | +0.0740% | 1h | 4.5602 | +10.123% | $1.7M | $2.2M | 10x | as long as short |
| Nado NEAR-PERP | +0.0811% | 1h | 4.5320 | +9.442% | $1.7M | $3.2M | 10x | as long as short |
| Pacifica NEAR | +0.0883% | 1h | 4.5283 | +9.353% | $427K | $1.4M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0943% | 1h | 4.5316 | +9.433% | $2.0M | $13.1M | 25x | as long as short |
| Aftermath Perps NEARUSD | +0.1259% | 1h | 4.5350 | +9.514% | $6K | $7K | 10x | as long as short |
Arcus NEAR-USD
Bulk 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
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Paradex NEAR-USD-PERP
Kalshi KXNEARPERP
HTX NEAR-USDT
BloFin NEAR-USDT
Hyperliquid NEAR
SoDEX NEAR-USD
01 Exchange NEARUSD
GMX NEAR/USD [ETH-USDC]
Coinbase International NEAR-PERP-INTX
RISEx NEAR/USDC
Lighter NEAR
Lighter RH NEAR
Phoenix NEAR
Nado NEAR-PERP
Pacifica NEAR
Deribit NEAR_USDC-PERPETUAL
Aftermath Perps NEARUSD