Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.001%

Price spread now: Binance against Popdex+0.179%51s7-day average −0.011% · 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−$330.333% of the position

Long on Popdex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.179%, 7d avg −0.011%

Together, before fees−0.315%−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.190% dearer against Popdex than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.011%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.4290	0.0096	pay 0.0012% / 1h	31m 35s	$112K	$491K	50x
Short	Binance NEARUSDT	4.4369	0.0200	get 0.0200% / 8h	1h 31m	$270.8M	$1.09B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.179%Rate

Funding earned: $21.81
Price spread: +0.179% → −0.011%: $19.05
Slippage, 4 orders: −$16.86
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Binance: 5 bp × 2 orders: −$10
Net: $7.6
Costs to cover: 0.333%
Break-even: 4.6 days

Slippage from Popdex: live order book, 12 min ago; Binance: live order book, 12 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, 12 min ago	3.34 bp	10.3 bp −$10	55.2 bp −$552	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.11 bp	7.5 bp −$8	12.2 bp −$122	34.5 bp −$3,452	106.6 bp −$53.3K

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	4.4223	−0.151%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4316	+0.059%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4240	−0.113%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.503%	$578	$301K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.4290	long leg	$112K	$491K	50x
Bybit NEARUSDT	+0.0100%	8h	4.4318	+0.063%	$224.8M	$435.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4310	+0.045%	$62.6M	$298.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4350	+0.135%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4310	+0.045%	$35.5M	$61.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4340	+0.113%	$53.5M	$46.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4249	−0.093%	$73.2M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4297	+0.016%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4392	+0.231%	$259K	$964K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4380	+0.203%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4289	−0.002%	$297K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4277	−0.029%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	+0.090%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4320	+0.068%	$465K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4310	+0.045%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4310	+0.045%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0114%	8h	4.4327	+0.083%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4317	+0.062%	$206K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0192%	1h	4.4295	+0.011%	$5K	$53K	10x	as long as short
BingX NEAR-USDT	+0.0194%	8h	4.4250	−0.090%	—	$143.9M	—	as long as short
MEXC NEAR_USDT	+0.0196%	8h	4.4360	+0.158%	$81.2M	$147.8M	200x	as long as short
Binance NEARUSDTshort	+0.0200%	8h	4.4369	+0.179%	$270.8M	$1.09B	75x
Extended NEAR-USD	+0.0224%	1h	4.4254	−0.080%	$3.7M	$18.5M	25x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.4276	−0.032%	$1.1M	$25.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0314%	8h	4.4410	+0.271%	$13.7M	$32.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0197%	1h	4.4235	−0.124%	$235K	—	100x	as long as short
Aster NEARUSDT	+0.0318%	8h	4.4340	+0.113%	$2.8M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4436	+0.330%	$2.3M	$16.7M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.4285	−0.011%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.4341	+0.115%	$1.4M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0493%	1h	4.4354	+0.145%	$362.7M	$312.6M	10x	as long as short
Nado NEAR-PERP	+0.0602%	1h	4.4245	−0.102%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4289	−0.003%	$7.3M	$38.4M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4290	0.000%	$225K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0880%	1h	4.4311	+0.047%	$1.9M	$13.1M	25x	as long as short
Lighter NEAR	+0.0888%	1h	4.4377	+0.197%	$17.4M	$25.1M	15x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.4377	+0.196%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4771	+1.086%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4336	+0.103%	$409K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4279	−0.025%	$668K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1272%	1h	4.4404	+0.258%	$6K	$12K	10x	as long as short