Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.037%

Price spread now: BloFin against Popdex+0.091%7-day average −0.009% · 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−$58as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.140%+$14 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now +0.091%, 7d avg −0.009%

Together, before fees+0.419%+$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.100% dearer against Popdex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.4070	0.0096	pay 0.0012% / 1h	19m 41s	$113K	$518K	50x
Short	BloFin NEAR-USDT	4.4110	0.0220	get 0.0220% / 8h	4h 19m	$13.9M	$32.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.091%Rate

Funding earned: $26.04
Price spread: +0.091% → −0.009%: $10
Slippage, 4 orders: −$49.56
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$31.92
Costs to cover: 0.680%
Break-even: 15.6 days

Slippage from Popdex: live order book, 39 min ago; BloFin: live order book, 4 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, 39 min ago	12.27 bp	18.7 bp −$19	58.0 bp −$580	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	3.40 bp	15.2 bp −$15	21.3 bp −$213	37.7 bp −$3,766	88.8 bp −$44.4K

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	4.4042	−0.063%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4042	−0.064%	$2.3M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4149	+0.179%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4069	−0.002%	$605K	$22.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4052	−0.041%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.036%	$578	$302K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.4070	long leg	$113K	$518K	50x
Pacifica NEAR	+0.0100%	1h	4.4180	+0.251%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4232	+0.367%	$271.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4140	+0.159%	$222.0M	$424.4M	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	4.4140	+0.159%	$62.8M	$299.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4098	+0.064%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4139	+0.157%	$32.2M	$64.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4170	+0.227%	$74.5M	$149.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4150	+0.182%	$54.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4142	+0.163%	$72.5M	$130.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4130	+0.136%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4057	−0.030%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4206	+0.308%	$265K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4210	+0.318%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4050	−0.045%	$169K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4074	+0.009%	$232K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4173	+0.234%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4170	+0.227%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4220	+0.340%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4160	+0.204%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4141	+0.161%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4210	+0.318%	$206K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0124%	1h	4.4155	+0.193%	$8K	$52K	10x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.4110	+0.091%	$13.9M	$32.8M	75x
Backpack NEAR_USDC_PERP	+0.0300%	1h	4.4159	+0.202%	$1.4M	$6.5M	20x	as long as short
Aster NEARUSDT	+0.0305%	8h	4.4190	+0.273%	$3.0M	$5.5M	50x	as long as short
Hyperliquid NEAR	+0.0318%	1h	4.4193	+0.280%	$364.5M	$324.6M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.4120	+0.113%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0190%	1h	4.4046	−0.055%	$233K	—	100x	as long as short
Extended NEAR-USD	+0.0360%	1h	4.4104	+0.077%	$3.9M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0540%	1h	4.4065	−0.011%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4190	+0.272%	$219K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0588%	1h	4.4183	+0.257%	$8.1M	$39.7M	50x	as long as short
Lighter RH NEAR	+0.0624%	1h	4.4195	+0.284%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4289	+0.497%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4192	+0.276%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.4210	+0.318%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1551%	1h	4.4114	+0.101%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1585%	1h	4.4230	+0.363%	$2.0M	$7.3M	25x	as long as short