NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0378%/8h= −41.4% APRnext payment −$0.47 per $10,000 · paid last 24h +0.059%

Price spread now: Backpack against Phoenix−0.339%7-day average +0.604% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Phoenix Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$34 on $10k

Price spread, last 7 days−0.055%−$6 · spread now −0.339%, 7d avg +0.604%

Together, before fees−0.391%−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Backpack is 0.942% cheaper against Phoenix than usual: you would sell low and buy high (−$94 if the spread goes back to its 7-day average of +0.604%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NEAR	4.3089	0.1033	pay 0.0129% / 1h	31m 34s	$1.8M	$2.5M	10x
Short	Backpack NEAR_USDC_PERP	4.2943	0.0655	get 0.0082% / 1h	31m 34s	$1.3M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Phoenix. 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 PhoenixbpFee BackpackbpOrdersPrice spread, now −0.339%Rate

Funding earned: −$79.48
Price spread: −0.339% → +0.604%: −$94.24
Slippage, 4 orders: −$22.88
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$213.59
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 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 Phoenix live order book, 2 min ago	0.93 bp	12.3 bp −$12	51.3 bp −$513	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	1.28 bp	10.0 bp −$10	23.9 bp −$239	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	4.2916	−0.402%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2857	−0.539%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2899	−0.440%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.897%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2900	−0.439%	$113K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2925	−0.380%	$262.3M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2870	−0.508%	$213.6M	$420.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2900	−0.439%	$60.4M	$284.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	−0.212%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2878	−0.490%	$32.3M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2950	−0.323%	$75.8M	$143.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2920	−0.392%	$51.8M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2909	−0.418%	$70.9M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2900	−0.439%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2998	−0.210%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	−0.294%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2949	−0.325%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2929	−0.371%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2958	−0.304%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3090	+0.002%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3070	−0.044%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2960	−0.299%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2886	−0.470%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2945	−0.334%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2950	−0.323%	$13.2M	$31.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2947	−0.330%	$2.3M	$15.8M	50x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	−0.299%	$165K	$795K	50x	as long as short
Kalshi KXNEARPERP	+0.0265%	8h	4.2971	−0.274%	$870K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2898	−0.444%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.2910	−0.415%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0375%	1h	4.2878	−0.490%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0528%	1h	4.2881	−0.482%	$3.7M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0568%	1h	4.2935	−0.357%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERPshort	+0.0655%	1h	4.2943	−0.339%	$1.3M	$6.7M	20x
Hyperliquid NEAR	+0.0693%	1h	4.2940	−0.346%	$350.9M	$310.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2920	−0.393%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.2961	−0.297%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2940	−0.346%	$216K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0845%	1h	4.2955	−0.311%	$2.0M	$11.0M	25x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2906	−0.425%	$393K	$1.3M	10x	as long as short
Lighter NEAR	+0.0920%	1h	4.2961	−0.298%	$16.8M	$25.1M	15x	as long as short
Phoenix NEARlong	+0.1033%	1h	4.3089	long leg	$1.8M	$2.5M	10x
Lighter RH NEAR	+0.1112%	1h	4.2959	−0.302%	$1.4M	$7.3M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2926	−0.378%	$685K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1358%	1h	4.2958	−0.304%	$5K	$12K	10x	as long as short