NEAR perpetual futures now available for trading on Polymarket.
DeFi & Yields ·
NEAR perpetual futures trading is now available on Polymarket through the NEAR-USD contract, which allows traders to take long or short positions on NEAR using pUSD as collateral with no expiration date. The contract offers up to 10x leverage, meaning a $1,000 position can control $10,000 worth of NEAR at maximum leverage, though this amplifies both potential gains and losses proportionally.
The NEAR-USD contract uses dual pricing mechanisms to maintain accuracy: an oracle price drawn from external data feeds and a mark price calculated by Polymarket for P&L and liquidation purposes. Currently, the spread between these two prices stands at $0.00 (0.10%), indicating the perpetual is tracking NEAR's spot price closely. A funding rate of 0.0007% applies each funding cycle to keep the prices aligned, and at current leverage settings, a 10x long position would face liquidation around $1.75.
Trading activity in the contract remains minimal so far, with $10.02 in volume and $10.04 in open interest recorded over the preceding 24 hours. The contract is quoting NEAR at $1.85, up 0.29% from the prior day.