Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against BingX+0.072%7-day average +0.018% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.225%−$22 · spread now +0.072%, 7d avg +0.018%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.054% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDC	4.1650	0.0100	pay 0.0100% / 8h	1h 29m	—	$6.6M	—
Short	Popdex NEARUSDT	4.1680	0.0096	get 0.0012% / 1h	29m 14s	$111K	$482K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BingX. 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 BingXbpFee PopdexbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$0.84
Price spread: +0.072% → +0.018%: $5.4
Slippage, 4 orders: −$21.24
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$33.08
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Popdex: live order book, 55 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 BingX live order book, 8 min ago	1.20 bp	12.3 bp −$12	24.6 bp −$246	64.1 bp −$6,410	418.1 bp −$209.0K
Sell Popdex live order book, 55 min ago	2.42 bp	8.6 bp −$9	55.4 bp −$554	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	4.1631	−0.046%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1657	+0.017%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.576%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1683	+0.080%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1669	+0.046%	$429K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1662	+0.030%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1682	+0.077%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1710	+0.144%	$1.5M	$6.9M	10x	as long as short
01 Exchange NEARUSD	+0.0096%	1h	4.1707	+0.137%	$12K	$7K	10x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.1680	+0.072%	$111K	$482K	50x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1653	+0.007%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1676	+0.063%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1684	+0.082%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1696	+0.111%	$360K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1656	+0.014%	$238.6M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1631	−0.046%	$212.4M	$423.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1630	−0.048%	$57.5M	$275.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1680	+0.072%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1666	+0.038%	$29.8M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1660	+0.024%	$81.9M	$141.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1680	+0.072%	$54.9M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1645	−0.012%	$68.9M	$125.4M	75x	as long as short
BingX NEAR-USDClong	+0.0100%	8h	4.1650	long leg	—	$6.6M	—
Variational Omni NEAR	+0.0100%	8h	4.1650	0.000%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.260%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1588	−0.148%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	+0.192%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1689	+0.094%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1730	+0.192%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1650	0.000%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1660	+0.024%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.120%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1628	−0.054%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1648	−0.004%	$201K	$62K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0182%	1h	4.1684	+0.082%	$1.8M	$2.2M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1650	0.000%	$12.3M	$31.6M	75x	as long as short
Hyperliquid NEAR	+0.0338%	1h	4.1719	+0.165%	$352.3M	$298.9M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1701	+0.122%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1656	+0.014%	$281K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0433%	1h	4.1698	+0.115%	$1.2M	$5.7M	20x	as long as short
Lighter NEAR	+0.0512%	1h	4.1751	+0.242%	$15.9M	$23.3M	15x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.360%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0545%	1h	4.1660	+0.024%	$1.8M	$3.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0859%	1h	4.1720	+0.167%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0972%	8h	4.1770	+0.288%	$447K	$3.6M	75x	as long as short