Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Gate−0.248%7-day average +0.034% · 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−$79as in the Price arb table

costs, in and out, $10k−$500.505% of the position

Long on Gate Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.248%, 7d avg +0.034%

Together, before fees+0.255%+$26 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 0.282% cheaper against Gate than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.4270	0.0100	pay 0.0100% / 8h	5h 36m	$31.9M	$62.2M	75x
Short	Popdex NEARUSDT	4.4160	0.0096	get 0.0012% / 1h	36m 26s	$116K	$488K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Gate. 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 GatebpFee PopdexbpOrdersPrice spread, now −0.248%Rate

Funding earned: −$0.84
Price spread: −0.248% → +0.034%: −$28.22
Slippage, 4 orders: −$29.1
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$79.55
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Popdex: live order book, 27 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 Gate live order book, 2 min ago	2.74 bp	19.7 bp −$20	31.0 bp −$310	40.4 bp −$4,044	55.0 bp −$27.5K
Sell Popdex live order book, 27 min ago	2.29 bp	7.5 bp −$8	54.5 bp −$545	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	4.4282	+0.028%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4050	−0.497%	$2.2M	$14.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4130	−0.317%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4034	−0.533%	$612K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4298	+0.063%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.460%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4160	−0.248%	$116K	$488K	50x
Pacifica NEAR	+0.0100%	1h	4.4161	−0.246%	$417K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4319	+0.110%	$268.7M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4330	+0.136%	$223.6M	$418.1M	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	+0.045%	$63.2M	$292.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−1.400%	$249K	−$0	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4270	long leg	$31.9M	$62.2M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4280	+0.023%	$76.3M	$141.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4280	+0.023%	$55.8M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4283	+0.029%	$72.9M	$126.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4300	+0.068%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4286	+0.037%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4253	−0.039%	$265K	$986K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3800	−1.062%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4164	−0.239%	$236K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4324	+0.122%	$60K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4030	−0.542%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4047	−0.504%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	−0.248%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4100	−0.384%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4134	−0.307%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4063	−0.467%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3980	−0.655%	$205K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0198%	1h	4.3790	−1.084%	$199K	$779K	50x	as long as short
Aster NEARUSDT	+0.0217%	8h	4.4134	−0.306%	$3.0M	$5.4M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4110	−0.361%	$13.6M	$31.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0351% / S −0.0245%	1h	4.4301	+0.071%	$259K	—	100x	as long as short
Nado NEAR-PERP	+0.0397%	1h	4.4250	−0.046%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4123	−0.332%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4130	−0.316%	$210K	$1.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0614%	1h	4.4004	−0.601%	$1.9M	$4.4M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0668%	1h	4.4127	−0.323%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0699%	1h	4.4076	−0.439%	$8.2M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0807%	1h	4.4245	−0.056%	$372.4M	$303.9M	10x	as long as short
Lighter RH NEAR	+0.0808%	1h	4.4216	−0.122%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4223	−0.106%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4126	−0.325%	$558K	$1.3M	10x	as long as short
Lighter NEAR	+0.1448%	1h	4.4238	−0.072%	$17.7M	$25.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1728%	1h	4.4021	−0.562%	$6K	$12K	10x	as long as short