Funding you earn now, next payment 07:00 UTC−0.0247%/8h= −27.0% APRnext payment −$0.31 per $10,000 · paid last 24h +0.107%
Price spread now: Backpack against Kraken Futures+0.105%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$440.436% of the position
Funding, last 7 days+0.215%+$21 on $10k
+Price spread, last 4 days (all we have)−0.225%−$23 · spread now +0.105%, 7d avg +0.037%
=The price spread pays, funding is against you. Backpack is 0.067% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.037%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.215%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_NEARUSD | 4.3932 | 0.0664 | pay 0.0083% / 1h | 28m 08s | $7.3M | $38.3M | 50x |
| Short | Backpack NEAR_USDC_PERP | 4.3978 | 0.0417 | get 0.0052% / 1h | 28m 08s | $1.4M | $6.8M | 20x |
Kraken Futures PF_NEARUSD
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$51.79
- Price spread: +0.105% → +0.037%
- $6.74
- Slippage, 4 orders
- −$23.61
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$88.66
- Costs to cover
- 0.436%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Backpack: live order book, 1 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 Kraken Futures live order book, 1 min ago | 5.46 bp | 10.6 bp −$11 | 12.4 bp −$124 | 42.9 bp −$4,294 | 5498.1 bp −$2.75M |
| Sell Backpack live order book, 1 min ago | 1.71 bp | 8.8 bp −$9 | 333.6 bp −$3,336 | 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 | 4.3933 | +0.003% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4143 | +0.480% | $109K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3910 | −0.049% | $164K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.741% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3910 | −0.050% | $111K | $491K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3970 | +0.087% | $222.8M | $434.6M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3960 | +0.064% | $62.2M | $295.0M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4350 | +0.952% | $253K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3947 | +0.034% | $35.4M | $61.5M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3990 | +0.132% | $53.3M | $46.1M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
KuCoin NEARUSDTMShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NEARUSDT | +0.0100% | 8h | 4.3962 | +0.068% | $72.1M | $127.2M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4217 | +0.649% | $8.8M | $18.7M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4291 | +0.817% | $259K | $967K | 20x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4270 | +0.769% | $167K | $805K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3934 | +0.005% | $299K | $4.1M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3958 | +0.059% | $59K | $236K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4010 | +0.178% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4030 | +0.223% | $462K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3970 | +0.087% | $3.6M | $8.2M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0105% | 8h | 4.3893 | −0.088% | $32K | $585 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0113% | 8h | 4.4260 | +0.747% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0128% | 1h | 4.3975 | +0.098% | $204K | $38K | 3x | as long as short |
| SoDEX NEAR-USD | +0.0179% | 1h | 4.3945 | +0.030% | $5K | $52K | 10x | as long as short |
| BingX NEAR-USDC | +0.0194% | 8h | 4.3960 | +0.064% | — | $6.6M | — | as long as short |
| MEXC NEAR_USDT | +0.0200% | 8h | 4.3970 | +0.087% | $78.9M | $148.5M | 200x | as long as short |
| Binance NEARUSDT | +0.0201% | 8h | 4.3993 | +0.140% | $268.5M | $1.09B | 75x | as long as short |
| Extended NEAR-USD | +0.0208% | 1h | 4.3930 | −0.005% | $3.7M | $18.4M | 25x | as long as short |
| Kalshi KXNEARPERP | +0.0259% | 8h | 4.3874 | −0.132% | $1.0M | $25.0M | 2.2x | as long as short |
| Aster NEARUSDT | +0.0309% | 8h | 4.3964 | +0.074% | $2.8M | $5.0M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0314% / S −0.0198% | 1h | 4.3934 | +0.006% | $233K | — | 100x | as long as short |
| BloFin NEAR-USDT | +0.0320% | 8h | 4.3920 | −0.027% | $13.7M | $32.4M | 75x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0417% | 1h | 4.3978 | +0.105% | $1.4M | $6.8M | 20x | |
| Coinbase International NEAR-PERP-INTX | +0.0424% | 1h | 4.3998 | +0.150% | $2.3M | $16.6M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0448% | 1h | 4.3921 | −0.025% | $13K | $7K | 10x | as long as short |
| Hyperliquid NEAR | +0.0455% | 1h | 4.3988 | +0.128% | $359.0M | $314.7M | 10x | as long as short |
| Nado NEAR-PERP | +0.0617% | 1h | 4.3910 | −0.050% | $1.7M | $3.2M | 10x | as long as short |
| Kraken Futures PF_NEARUSDlong | +0.0664% | 1h | 4.3932 | long leg | $7.3M | $38.3M | 50x | |
| Lighter NEAR | +0.0816% | 1h | 4.4011 | +0.180% | $17.3M | $25.2M | 15x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0866% | 1h | 4.3974 | +0.096% | $1.9M | $13.1M | 25x | as long as short |
| Arcus NEAR-USD | +0.0880% | 1h | 4.3950 | +0.041% | $223K | $1.6M | 10x | as long as short |
| Lighter RH NEAR | +0.0904% | 1h | 4.4005 | +0.166% | $1.5M | $6.7M | 10x | as long as short |
| Phoenix NEAR | +0.1003% | 1h | 4.4297 | +0.831% | $1.8M | $2.5M | 10x | as long as short |
| Pacifica NEAR | +0.1187% | 1h | 4.3918 | −0.031% | $419K | $1.4M | 10x | as long as short |
| RISEx NEAR/USDC | +0.1259% | 1h | 4.3934 | +0.005% | $668K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1278% | 1h | 4.4219 | +0.653% | $5K | $12K | 10x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
GRVT NEAR_USDT_Perp
Aevo NEAR-PERP
SoDEX NEAR-USD
BingX NEAR-USDC
MEXC NEAR_USDT
Binance NEARUSDT
Extended NEAR-USD
Kalshi KXNEARPERP
Aster NEARUSDT
GMX NEAR/USD [ETH-USDC]
BloFin NEAR-USDT
Coinbase International NEAR-PERP-INTX
01 Exchange NEARUSD
Hyperliquid NEAR
Nado NEAR-PERP
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
Arcus NEAR-USD
Lighter RH NEAR
Phoenix NEAR
Pacifica NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD