Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against Popdex+0.328%7-day average +0.019% · 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−$14as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.213%−$21 · spread now +0.328%, 7d avg +0.019%

Together, before fees−0.210%−$21 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: KuCoin is 0.309% dearer against Popdex than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.2720	0.0096	pay 0.0012% / 1h	16m 51s	$109K	$496K	50x
Short	KuCoin NEARUSDTM	4.2860	0.0100	get 0.0100% / 8h	16m 51s	$55.9M	$43.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.328%Rate

Funding earned: $0.84
Price spread: +0.328% → +0.019%: $30.86
Slippage, 4 orders: −$26.86
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$13.56
Costs to cover: 0.453%
Break-even: 120.0 days

Slippage from Popdex: live order book, 62 min ago; KuCoin: 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, 62 min ago	2.37 bp	8.6 bp −$9	43.6 bp −$436	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.17 bp	9.4 bp −$9	28.1 bp −$281	90.6 bp −$9,056	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	4.2710	−0.024%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2728	+0.019%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2734	+0.032%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2763	+0.101%	$347K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2762	+0.099%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.066%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0054%	8h	4.2805	+0.199%	$218.2M	$422.5M	75x	as long as short
Variational Omni NEAR	+0.0056%	8h	4.2869	+0.349%	$7.9M	$18.5M	—	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.2722	+0.005%	$13K	$7K	10x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.2720	long leg	$109K	$496K	50x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2715	−0.011%	$31K	$647	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2770	+0.117%	$57K	$194K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2848	+0.299%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2758	+0.090%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2840	+0.281%	$253.3M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2810	+0.211%	$60.9M	$286.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2730	+0.023%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.538%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2829	+0.255%	$30.7M	$60.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2840	+0.281%	$77.8M	$142.2M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.2860	+0.328%	$55.9M	$43.5M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2812	+0.215%	$71.1M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2830	+0.257%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2911	+0.446%	$245K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2797	+0.179%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2940	+0.515%	$179K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2748	+0.066%	$201K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2790	+0.164%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2765	+0.105%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2770	+0.117%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2815	+0.222%	$3.9M	$16.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2749	+0.068%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2812	+0.216%	$7.6M	$37.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0218%	1h	4.2777	+0.133%	$1.9M	$2.5M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2800	+0.187%	$13.0M	$29.4M	75x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2844	+0.290%	$1.5M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2764	+0.104%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2745	+0.059%	$419K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0455%	1h	4.2852	+0.309%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.403%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0676%	1h	4.2710	−0.023%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0700%	1h	4.2886	+0.389%	$367.1M	$299.8M	10x	as long as short
HTX NEAR-USDT	+0.0788%	8h	4.2860	+0.328%	$458K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1150%	1h	4.2812	+0.216%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1656%	1h	4.2901	+0.423%	$16.5M	$23.9M	15x	as long as short