Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against KuCoin+0.158%7-day average −0.020% · 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−$33as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now +0.158%, 7d avg −0.020%

Together, before fees−0.278%−$28 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 0.178% dearer against KuCoin than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.4320	0.0100	pay 0.0100% / 8h	2h 01m	$53.4M	$46.0M	75x
Short	Popdex NEARUSDT	4.4390	0.0096	get 0.0012% / 1h	1m 11s	$113K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against KuCoin. 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 KuCoinbpFee PopdexbpOrdersPrice spread, now +0.158%Rate

Funding earned: −$0.84
Price spread: +0.158% → −0.020%: $17.81
Slippage, 4 orders: −$32.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$33.56
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Popdex: live order book, 48 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 KuCoin live order book, 8 min ago	2.28 bp	20.2 bp −$20	37.7 bp −$377	110.5 bp −$11.0K	doesn't fit
Sell Popdex live order book, 48 min ago	2.33 bp	6.6 bp −$7	61.3 bp −$613	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	4.4397	+0.175%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4367	+0.105%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4376	+0.127%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.566%	$578	$301K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4390	+0.158%	$113K	$501K	50x
Bybit NEARUSDT	+0.0100%	8h	4.4291	−0.065%	$222.9M	$422.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4290	−0.068%	$62.6M	$295.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4419	+0.224%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4402	+0.185%	$34.0M	$61.4M	75x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.4320	long leg	$53.4M	$46.0M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4270	−0.113%	$73.1M	$127.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4197	−0.277%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4253	−0.150%	$258K	$966K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4433	+0.255%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4425	+0.237%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4490	+0.384%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4540	+0.496%	$461K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4300	−0.045%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4402	+0.185%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0116%	8h	4.4341	+0.048%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4445	+0.282%	$207K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0130%	8h	4.4290	−0.068%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0146%	8h	4.4340	+0.045%	$84.8M	$147.0M	200x	as long as short
Binance NEARUSDT	+0.0153%	8h	4.4350	+0.068%	$269.0M	$1.09B	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4419	+0.223%	$2.3M	$16.4M	50x	as long as short
BloFin NEAR-USDT	+0.0273%	8h	4.4370	+0.113%	$13.4M	$32.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4381	+0.137%	$238K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0315%	8h	4.4412	+0.208%	$1.1M	$24.6M	2.2x	as long as short
Aster NEARUSDT	+0.0345%	8h	4.4340	+0.045%	$2.9M	$5.1M	50x	as long as short
Nado NEAR-PERP	+0.0387%	1h	4.4389	+0.155%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0440%	1h	4.4387	+0.151%	$3.7M	$19.2M	25x	as long as short
ApeX Omni NEARUSDT	+0.0450%	1h	4.4150	−0.384%	$167K	$803K	50x	as long as short
SoDEX NEAR-USD	+0.0490%	1h	4.4405	+0.192%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0690%	1h	4.4453	+0.300%	$365.8M	$311.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0700%	1h	4.4315	−0.011%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0704%	1h	4.4468	+0.334%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0712%	1h	4.4389	+0.155%	$7.4M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4470	+0.338%	$223K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4422	+0.230%	$407K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0876%	1h	4.4442	+0.275%	$2.0M	$12.1M	25x	as long as short
Lighter NEAR	+0.0928%	1h	4.4415	+0.214%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4593	+0.616%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.4369	+0.111%	$1.5M	$7.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.4449	+0.291%	$691K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1256%	1h	4.4124	−0.443%	$5K	$12K	10x	as long as short