Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Popdex+0.243%7-day average −0.034% · 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−$23as in the Price arb table

costs, in and out, $10k−$500.505% of the position

Long on Popdex Short on Gate

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)−0.257%−$26 · spread now +0.243%, 7d avg −0.034%

Together, before fees−0.250%−$25 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: Gate is 0.277% dearer against Popdex than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.3980	0.0096	pay 0.0012% / 1h	37m 10s	$115K	$488K	50x
Short	Gate NEAR_USDT	4.4087	0.0100	get 0.0100% / 8h	5h 37m	$31.7M	$62.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.243%Rate

Funding earned: $0.84
Price spread: +0.243% → −0.034%: $27.7
Slippage, 4 orders: −$29.1
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.96
Costs to cover: 0.505%
Break-even: 190.0 days

Slippage from Popdex: live order book, 27 min ago; Gate: live order book, 2 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, 27 min ago	2.29 bp	8.3 bp −$8	70.0 bp −$700	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.74 bp	15.0 bp −$15	21.7 bp −$217	33.8 bp −$3,379	52.3 bp −$26.2K

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	4.3941	−0.089%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4050	+0.159%	$2.2M	$14.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3921	−0.135%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4034	+0.123%	$612K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3958	−0.050%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.844%	$578	$302K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3980	long leg	$115K	$488K	50x
Pacifica NEAR	+0.0100%	1h	4.3943	−0.083%	$415K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4111	+0.299%	$268.4M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4100	+0.273%	$222.5M	$417.7M	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	4.4070	+0.205%	$62.6M	$291.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−0.750%	$249K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.4087	+0.243%	$31.7M	$62.2M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4100	+0.273%	$76.2M	$141.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3990	+0.023%	$55.5M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4070	+0.205%	$72.6M	$126.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4080	+0.227%	—	$144.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4286	+0.697%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4253	+0.620%	$265K	$986K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3800	−0.409%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3991	+0.025%	$236K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3957	−0.052%	$60K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4030	+0.114%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4047	+0.152%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.409%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4100	+0.273%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3956	−0.054%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4030	+0.115%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3980	0.000%	$205K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0198%	1h	4.3790	−0.432%	$199K	$779K	50x	as long as short
Aster NEARUSDT	+0.0214%	8h	4.3981	+0.001%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4110	+0.296%	$13.6M	$31.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0350% / S −0.0245%	1h	4.3950	−0.068%	$258K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3983	+0.007%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3990	+0.023%	$209K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0420%	1h	4.3938	−0.094%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0614%	1h	4.4004	+0.055%	$1.9M	$4.4M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0668%	1h	4.4127	+0.334%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0699%	1h	4.4076	+0.218%	$8.2M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0795%	1h	4.4158	+0.405%	$371.7M	$303.8M	10x	as long as short
Lighter RH NEAR	+0.0800%	1h	4.4133	+0.348%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4223	+0.553%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3986	+0.014%	$558K	$1.3M	10x	as long as short
Lighter NEAR	+0.1448%	1h	4.4132	+0.345%	$17.7M	$25.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1747%	1h	4.3985	+0.011%	$6K	$12K	10x	as long as short