Funding you earn now, next payment 04:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.224%
Price spread now: Backpack against Orderly−0.190%46s7-day average +0.065% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.431%+$43 on $10k
+Price spread, last 4 days (all we have)−0.197%−$20 · spread now −0.190%, 7d avg +0.065%
=Funding pays, the price is against you. Backpack is 0.255% cheaper against Orderly than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of +0.065%). If the spread goes back, that is −$25 on $10k: about 4.2 days of funding at the current rate (+$6 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_NEAR_USDC | 4.4243 | 0.0100 | pay 0.0100% / 8h | 4h 19m | $57K | $227K | 20x |
| Short | Backpack NEAR_USDC_PERP | 4.4159 | 0.0300 | get 0.0037% / 1h | 19m 22s | $1.4M | $6.5M | 20x |
Orderly PERP_NEAR_USDC
Backpack NEAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $41.98
- Price spread: −0.190% → +0.065%
- −$25.47
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $0.51
- Costs to cover
- 0.160%
- Break-even
- 6.9 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 5 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 5 min ago | 2.15 bp | 9.4 bp −$9 | 18.4 bp −$184 | doesn't fit | doesn't fit |
Orderly: 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 | 4.4171 | −0.164% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0008% | 1h | 4.4146 | −0.219% | $2.3M | $15.4M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4149 | −0.212% | $109K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.4069 | −0.393% | $605K | $22.1M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4229 | −0.032% | $166K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −6.403% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4180 | −0.142% | $113K | $518K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.4180 | −0.141% | $420K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.4288 | +0.102% | $272.0M | $1.10B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4220 | −0.052% | $222.4M | $424.5M | 75x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4210 | −0.075% | $62.9M | $300.2M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4098 | −0.327% | $251K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4233 | −0.023% | $32.2M | $64.0M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.4190 | −0.120% | $74.5M | $149.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4210 | −0.075% | $54.7M | $46.2M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.4248 | +0.011% | $72.7M | $130.5M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.4240 | −0.007% | — | $147.5M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4057 | −0.421% | $8.5M | $18.2M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4206 | −0.084% | $265K | $977K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.4210 | −0.075% | $1.5M | $1.5M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4130 | −0.255% | $170K | $802K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4214 | −0.066% | $249K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDClong | +0.0100% | 8h | 4.4243 | long leg | $57K | $227K | 20x | |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4270 | +0.061% | $2K | $1.4M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4340 | +0.219% | $459K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4300 | +0.129% | $3.8M | $8.4M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.4141 | −0.231% | $32K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.4290 | +0.106% | $206K | $40K | 3x | as long as short |
| SoDEX NEAR-USD | +0.0143% | 1h | 4.4255 | +0.027% | $8K | $52K | 10x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.4110 | −0.301% | $13.9M | $32.8M | 75x | as long as short |
| Backpack NEAR_USDC_PERPshort | +0.0300% | 1h | 4.4159 | −0.190% | $1.4M | $6.5M | 20x | |
| Aster NEARUSDT | +0.0305% | 8h | 4.4197 | −0.105% | $3.0M | $5.5M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0321% / S −0.0190% | 1h | 4.4227 | −0.037% | $234K | — | 100x | as long as short |
| Hyperliquid NEAR | +0.0322% | 1h | 4.4259 | +0.036% | $365.1M | $324.6M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0328% | 1h | 4.4232 | −0.025% | $13K | $7K | 10x | as long as short |
| Extended NEAR-USD | +0.0376% | 1h | 4.4238 | −0.012% | $3.9M | $19.7M | 25x | as long as short |
| Nado NEAR-PERP | +0.0536% | 1h | 4.4182 | −0.137% | $1.9M | $3.1M | 10x | as long as short |
| Arcus NEAR-USD | +0.0581% | 1h | 4.4190 | −0.120% | $219K | $1.8M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0586% | 1h | 4.4302 | +0.134% | $8.2M | $39.7M | 50x | as long as short |
| Lighter RH NEAR | +0.0624% | 1h | 4.4195 | −0.108% | $1.5M | $7.2M | 10x | as long as short |
| Phoenix NEAR | +0.0794% | 1h | 4.4289 | +0.104% | $1.8M | $2.8M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0926% | 1h | 4.4192 | −0.116% | $592K | $1.4M | 10x | as long as short |
| Lighter NEAR | +0.0928% | 1h | 4.4210 | −0.074% | $17.8M | $26.5M | 15x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1084% | 1h | 4.4281 | +0.086% | $2.0M | $7.3M | 25x | as long as short |
| Aftermath Perps NEARUSD | +0.1537% | 1h | 4.4152 | −0.205% | $5K | $12K | 10x | as long as short |
OKX NEAR-USDT-SWAP
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
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
SoDEX NEAR-USD
BloFin NEAR-USDT
Aster NEARUSDT
GMX NEAR/USD [ETH-USDC]
Hyperliquid NEAR
01 Exchange NEARUSD
Extended NEAR-USD
Nado NEAR-PERP
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
Lighter RH NEAR
Phoenix NEAR
RISEx NEAR/USDC
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
Aftermath Perps NEARUSD