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 −0.001%

Price spread now: Popdex against OKX+0.138%7-day average +0.056% · 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−$53as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on OKX 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)+0.131%+$13 · spread now +0.138%, 7d avg +0.056%

Together, before fees+0.124%+$12 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 0.082% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3440	0.0100	pay 0.0100% / 8h	3h 24m	$61.6M	$291.8M	50x
Short	Popdex NEARUSDT	4.3500	0.0096	get 0.0012% / 1h	24m 53s	$110K	$502K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$0.84
Price spread: +0.138% → +0.056%: $8.19
Slippage, 4 orders: −$45.24
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$54.29
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Popdex: live order book, 29 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 OKX live order book, 4 min ago	1.15 bp	10.1 bp −$10	15.5 bp −$155	33.4 bp −$3,340	doesn't fit
Sell Popdex live order book, 29 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	4.3487	+0.108%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3561	+0.279%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3478	+0.088%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.673%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3638	+0.456%	$2.4M	$15.9M	50x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.3500	+0.138%	$110K	$502K	50x
Binance NEARUSDT	+0.0100%	8h	4.3473	+0.076%	$266.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3442	+0.005%	$214.9M	$428.0M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3440	long leg	$61.6M	$291.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3412	−0.064%	$247K	−$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	4.3425	−0.035%	$32.2M	$61.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3470	+0.069%	$73.2M	$145.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3500	+0.138%	$53.9M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3434	−0.014%	$71.4M	$128.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3450	+0.023%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.430%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.419%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3589	+0.344%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.460%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3510	+0.161%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3504	+0.147%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3560	+0.276%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3720	+0.645%	$474K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3500	+0.138%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3556	+0.268%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3507	+0.153%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3540	+0.230%	$13.5M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3600	+0.368%	$409K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0285%	8h	4.3552	+0.258%	$783K	$23.3M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0326% / S −0.0203%	1h	4.3477	+0.086%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.3480	+0.092%	$2.9M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0373%	1h	4.3470	+0.069%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.3604	+0.378%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0567%	1h	4.3488	+0.111%	$1.8M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0581%	1h	4.3504	+0.147%	$1.3M	$6.7M	20x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3600	+0.368%	$213K	$1.6M	10x	as long as short
Hyperliquid NEAR	+0.0636%	1h	4.3515	+0.173%	$356.9M	$317.8M	10x	as long as short
Extended NEAR-USD	+0.0648%	1h	4.3420	−0.045%	$3.8M	$20.0M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0709%	1h	4.3479	+0.090%	$7.6M	$39.3M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0785%	1h	4.3513	+0.168%	$1.9M	$9.0M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3544	+0.239%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3721	+0.647%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1120%	1h	4.3559	+0.273%	$17.6M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3568	+0.295%	$690K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1534%	1h	4.3550	+0.253%	$5K	$12K	10x	as long as short