Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against MEXC−0.136%7-day average +0.023% · 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−$61as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.136%, 7d avg +0.023%

Together, before fees+0.046%+$5 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 0.159% cheaper against MEXC than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.4240	0.0100	pay 0.0100% / 8h	4h 16m	$74.9M	$150.0M	200x
Short	Popdex NEARUSDT	4.4180	0.0096	get 0.0012% / 1h	16m 44s	$113K	$519K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against MEXC. 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 MEXCbpFee PopdexbpOrdersPrice spread, now −0.136%Rate

Funding earned: −$0.84
Price spread: −0.136% → +0.023%: −$15.87
Slippage, 4 orders: −$38.93
Fee MEXC: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$62.05
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Popdex: live order book, 42 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 MEXC live order book, 2 min ago	1.13 bp	3.2 bp −$3	5.9 bp −$59	27.2 bp −$2,722	74.8 bp −$37.4K
Sell Popdex live order book, 42 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	4.4159	−0.184%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4266	+0.059%	$2.3M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4200	−0.091%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4262	+0.050%	$599K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4218	−0.050%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.397%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4180	−0.136%	$113K	$519K	50x
Pacifica NEAR	+0.0100%	1h	4.4237	−0.008%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4250	+0.023%	$272.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4186	−0.122%	$222.4M	$424.6M	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	4.4180	−0.136%	$63.0M	$300.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4098	−0.320%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4194	−0.104%	$32.2M	$64.2M	75x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.4240	long leg	$74.9M	$150.0M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.4240	0.000%	$54.8M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4186	−0.122%	$72.6M	$130.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4180	−0.136%	—	$147.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4057	−0.414%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4247	+0.016%	$265K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4281	+0.092%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4180	−0.136%	$170K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4191	−0.111%	$246K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4249	+0.020%	$57K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4360	+0.271%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4300	+0.136%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4260	+0.045%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4187	−0.119%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4290	+0.113%	$206K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0164%	1h	4.4248	+0.018%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4290	+0.113%	$13.8M	$33.0M	75x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.4262	+0.050%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4215	−0.057%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0324%	1h	4.4263	+0.052%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4221	−0.043%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0352%	1h	4.4276	+0.081%	$365.2M	$324.7M	10x	as long as short
Extended NEAR-USD	+0.0400%	1h	4.4164	−0.173%	$4.0M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0543%	1h	4.4175	−0.147%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4230	−0.023%	$219K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0587%	1h	4.4266	+0.060%	$8.2M	$39.5M	50x	as long as short
Lighter RH NEAR	+0.0656%	1h	4.4288	+0.108%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4289	+0.111%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0903%	1h	4.4274	+0.077%	$2.0M	$7.3M	25x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4228	−0.027%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.4304	+0.146%	$17.9M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1566%	1h	4.4216	−0.054%	$5K	$12K	10x	as long as short