Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.006%

Price spread now: Aster against Popdex+0.044%52s7-day average +0.035% · 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—prices read too far apart to compare

costs, in and out, $10k−$600.603% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.406%−$41 · spread now +0.044%, 7d avg +0.035%

Together, before fees−0.384%+ Points / potential airdropAster: Stage 5 · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.022% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.3860	0.0096	pay 0.0012% / 1h	25m 40s	$112K	$516K	50x
Short	Aster NEARUSDT	4.3879	0.0291	get 0.0291% / 8h	4h 25m	$2.9M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now +0.044%Rate

Funding earned: $40.89
Price spread: +0.044% → +0.035%: $0.83
Slippage, 4 orders: −$45.89
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.57
Costs to cover: 0.603%
Break-even: 10.2 days

Slippage from Popdex: live order book, 33 min ago; Aster: 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 Popdex live order book, 33 min ago	12.27 bp	18.7 bp −$19	58.0 bp −$580	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	4.56 bp	10.7 bp −$11	19.5 bp −$195	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	4.3856	−0.009%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3839	−0.048%	$2.3M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3915	+0.124%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3854	−0.014%	$579K	$22.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3859	−0.001%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.586%	$578	$302K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3860	long leg	$112K	$516K	50x
Pacifica NEAR	+0.0100%	1h	4.3933	+0.167%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3959	+0.226%	$269.9M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3960	+0.228%	$220.9M	$424.1M	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	4.3960	+0.228%	$62.5M	$298.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3987	+0.290%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3953	+0.212%	$31.9M	$63.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3970	+0.251%	$73.7M	$149.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3950	+0.205%	$54.6M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3967	+0.244%	$72.3M	$130.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3980	+0.274%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3777	−0.189%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4018	+0.360%	$264K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3990	+0.296%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3820	−0.091%	$168K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3883	+0.052%	$234K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3826	−0.078%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3920	+0.137%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3820	−0.091%	$8K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3960	+0.228%	$455K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3910	+0.114%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3875	+0.034%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3802	−0.131%	$204K	$40K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3880	+0.046%	$13.8M	$32.7M	75x	as long as short
Hyperliquid NEAR	+0.0232%	1h	4.3913	+0.121%	$362.0M	$326.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0257%	1h	4.3860	0.000%	$1.3M	$6.5M	20x	as long as short
Extended NEAR-USD	+0.0280%	1h	4.3947	+0.197%	$3.9M	$19.7M	25x	as long as short
Aster NEARUSDTshort	+0.0291%	8h	4.3879	+0.044%	$2.9M	$5.6M	50x
01 Exchange NEARUSD	+0.0296%	1h	4.4061	+0.458%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0191%	1h	4.3844	−0.036%	$231K	—	100x	as long as short
Nado NEAR-PERP	+0.0548%	1h	4.3834	−0.058%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0560%	1h	4.3991	+0.299%	$1.5M	$7.2M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4050	+0.433%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0592%	1h	4.3848	−0.028%	$8.1M	$40.0M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.3965	+0.239%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0896%	1h	4.3969	+0.248%	$17.7M	$26.4M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4054	+0.443%	$584K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1439%	1h	4.3878	+0.041%	$2.0M	$7.2M	25x	as long as short
Aftermath Perps NEARUSD	+0.1538%	1h	4.3988	+0.292%	$5K	$12K	10x	as long as short