Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.006%

Price spread now: Popdex against Aster−0.111%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$590.595% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.473%+$47 · spread now −0.111%, 7d avg −0.035%

Together, before fees+0.452%+ Points / potential airdropAster: Stage 5 · farm board+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Popdex is 0.076% cheaper against Aster than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.022% in total (about -2.2% a year). A funding rate is set anew for every payment. 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	Aster NEARUSDT	4.4450	0.0297	pay 0.0297% / 8h	4h 46m	$3.1M	$5.6M	50x
Short	Popdex NEARUSDT	4.4400	0.0096	get 0.0012% / 1h	46m 36s	$117K	$514K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Aster. 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 AsterbpFee PopdexbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$42.19
Price spread: −0.111% → −0.035%: −$7.61
Slippage, 4 orders: −$45.06
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$109.27
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Popdex: live order book, 12 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 Aster live order book, 2 min ago	3.36 bp	10.9 bp −$11	19.7 bp −$197	doesn't fit	doesn't fit
Sell Popdex live order book, 12 min ago	12.27 bp	21.4 bp −$21	55.2 bp −$552	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	4.4288	−0.363%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4444	−0.012%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4397	−0.118%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4544	+0.212%	$618K	$22.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4418	−0.071%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.838%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4400	−0.111%	$117K	$514K	50x
Pacifica NEAR	+0.0100%	1h	4.4473	+0.053%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4375	−0.168%	$272.1M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4306	−0.323%	$222.0M	$424.5M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4290	−0.359%	$63.4M	$301.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5100	+1.463%	$257K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4392	−0.129%	$32.1M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4410	−0.089%	$75.4M	$147.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4490	+0.091%	$55.2M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4304	−0.327%	$72.9M	$130.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4400	−0.111%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4797	+0.782%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4567	+0.265%	$267K	$978K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4624	+0.392%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4510	+0.136%	$171K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4346	−0.233%	$240K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4414	−0.080%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4530	+0.181%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4415	−0.078%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4520	+0.159%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4470	+0.046%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4376	−0.166%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4436	−0.031%	$207K	$40K	3x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4363	−0.194%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0200%	1h	4.4487	+0.084%	$1.4M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0202%	1h	4.4338	−0.251%	$366.6M	$326.4M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4460	+0.024%	$14.1M	$33.1M	75x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.4389	−0.136%	$13K	$7K	10x	as long as short
Aster NEARUSDTlong	+0.0297%	8h	4.4450	long leg	$3.1M	$5.6M	50x
GMX NEAR/USD [ETH-USDC]	L +0.0338% / S −0.0216%	1h	4.4424	−0.058%	$248K	—	100x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.4445	−0.010%	$1.5M	$7.1M	10x	as long as short
Nado NEAR-PERP	+0.0549%	1h	4.4276	−0.392%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4600	+0.338%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0585%	1h	4.4432	−0.040%	$8.2M	$40.2M	50x	as long as short
Lighter NEAR	+0.0664%	1h	4.4558	+0.243%	$17.9M	$26.2M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0741%	1h	4.4438	−0.026%	$2.0M	$6.7M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4822	+0.838%	$1.9M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4422	−0.063%	$561K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1570%	1h	4.4718	+0.603%	$6K	$12K	10x	as long as short