Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.001%

Price spread now: BingX against Popdex+0.046%7-day average — · 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−$22as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Popdex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.046% dearer against Popdex than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.3490	0.0096	pay 0.0012% / 1h	11m 57s	$115K	$498K	50x
Short	BingX NEAR-USDT	4.3510	0.0116	get 0.0116% / 8h	2h 11m	—	$143.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $4.2
Price spread: +0.046% → 0.000%: $4.6
Slippage, 4 orders: −$9.71
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.32
Costs to cover: 0.261%
Break-even: 35.9 days

Slippage from Popdex: live order book, 37 min ago; BingX: 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, 37 min ago	2.33 bp	7.2 bp −$7	66.7 bp −$667	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	1.16 bp	6.2 bp −$6	7.9 bp −$79	19.4 bp −$1,939	45.3 bp −$22.7K

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	4.3478	−0.027%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3467	−0.052%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3496	+0.014%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.783%	$578	$301K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3490	long leg	$115K	$498K	50x
Bybit NEARUSDT	+0.0100%	8h	4.3490	0.000%	$217.6M	$420.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3500	+0.023%	$61.5M	$289.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	+0.023%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3486	−0.009%	$33.1M	$60.5M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3540	+0.115%	$52.5M	$46.0M	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	4.3505	+0.034%	$71.8M	$125.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3478	−0.028%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3566	+0.175%	$254K	$967K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3591	+0.233%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3509	+0.044%	$279K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3535	+0.103%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3600	+0.253%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3610	+0.276%	$470K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3510	+0.046%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3457	−0.076%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3540	+0.115%	$202K	$37K	3x	as long as short
BingX NEAR-USDTshort	+0.0116%	8h	4.3510	+0.046%	—	$143.4M	—
MEXC NEAR_USDT	+0.0119%	8h	4.3580	+0.207%	$82.7M	$145.7M	200x	as long as short
Binance NEARUSDT	+0.0123%	8h	4.3548	+0.133%	$265.0M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0239%	8h	4.3520	+0.069%	$13.3M	$31.9M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3557	+0.154%	$2.3M	$16.1M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0312% / S −0.0201%	1h	4.3496	+0.013%	$233K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0314%	8h	4.3502	+0.028%	$994K	$24.7M	2.2x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.3510	+0.046%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0402%	1h	4.3505	+0.035%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0435%	1h	4.3520	+0.069%	$167K	$795K	50x	as long as short
Extended NEAR-USD	+0.0496%	1h	4.3497	+0.016%	$3.7M	$19.4M	25x	as long as short
SoDEX NEAR-USD	+0.0531%	1h	4.3520	+0.069%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0652%	1h	4.3555	+0.149%	$357.7M	$311.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0682%	1h	4.3538	+0.110%	$1.3M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0727%	1h	4.3503	+0.029%	$7.3M	$39.1M	50x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.3542	+0.120%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3550	+0.138%	$225K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3492	+0.004%	$398K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0854%	1h	4.3544	+0.124%	$1.9M	$11.7M	25x	as long as short
Lighter NEAR	+0.0912%	1h	4.3581	+0.208%	$17.1M	$25.2M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3660	+0.391%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.3581	+0.209%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3529	+0.089%	$689K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1317%	1h	4.3456	−0.079%	$5K	$12K	10x	as long as short