Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.131%

Price spread now: Popdex against HTX−0.115%7-day average −0.231% · 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−$91as in the Price arb table

costs, in and out, $10k−$1031.031% of the position

Long on HTX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.383%−$38 on $10k

Price spread, last 4 days (all we have)−0.625%−$62 · spread now −0.115%, 7d avg −0.231%

Together, before fees−1.008%−$101 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 0.116% dearer against HTX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.231%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NEAR-USDT	4.3550	0.0100	pay 0.0100% / 8h	3h 50m	$455K	$4.0M	75x
Short	Popdex NEARUSDT	4.3500	0.0096	get 0.0012% / 1h	50m 42s	$107K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against HTX. 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 HTXbpFee PopdexbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$0.84
Price spread: −0.115% → −0.231%: $11.62
Slippage, 4 orders: −$84.71
Fee HTX: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$92.33
Costs to cover: 1.031%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Popdex: 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 HTX live order book, 3 min ago	9.16 bp	29.7 bp −$30	57.6 bp −$576	doesn't fit	doesn't fit
Sell Popdex live order book, 3 min ago	14.94 bp	23.2 bp −$23	57.1 bp −$571	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	4.3532	−0.042%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3462	−0.203%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3481	−0.158%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.914%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3527	−0.053%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.3500	−0.115%	$107K	$501K	50x
Binance NEARUSDT	+0.0100%	8h	4.3528	−0.050%	$267.8M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3456	−0.216%	$219.0M	$424.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3440	−0.253%	$62.1M	$292.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+0.508%	$249K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3492	−0.133%	$31.8M	$60.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3490	−0.138%	$73.9M	$143.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3490	−0.138%	$54.1M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3420	−0.299%	$71.3M	$129.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3430	−0.276%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3497	−0.121%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3582	+0.074%	$255K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3520	−0.069%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3560	+0.023%	$167K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3562	+0.028%	$247K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3487	−0.145%	$56K	$244K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3570	+0.046%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDTlong	+0.0100%	8h	4.3550	long leg	$455K	$4.0M	75x
Phemex NEARUSDT	+0.0100%	8h	4.3570	+0.046%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3445	−0.241%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3483	−0.155%	$202K	$40K	3x	as long as short
Kalshi KXNEARPERP	+0.0114%	8h	4.3522	−0.064%	$574K	$22.7M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3540	−0.023%	$13.7M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3543	−0.016%	$414K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0308%	8h	4.3519	−0.071%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0191%	1h	4.3484	−0.151%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0379%	1h	4.3485	−0.149%	$8K	$52K	10x	as long as short
01 Exchange NEARUSD	+0.0512%	1h	4.3538	−0.028%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0541%	1h	4.3525	−0.057%	$1.4M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0598%	1h	4.3559	+0.021%	$358.8M	$318.2M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3450	−0.230%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0640%	1h	4.3413	−0.315%	$3.9M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0689%	1h	4.3505	−0.103%	$1.9M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0708%	1h	4.3506	−0.102%	$7.7M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0848%	1h	4.3587	+0.085%	$1.5M	$7.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0854%	1h	4.3510	−0.092%	$1.9M	$8.1M	25x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3617	+0.154%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3433	−0.269%	$594K	$1.4M	10x	as long as short
Lighter NEAR	+0.1272%	1h	4.3642	+0.211%	$17.6M	$24.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1633%	1h	4.3672	+0.281%	$5K	$12K	10x	as long as short