Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Orderly against Popdex−0.124%7-day average −0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.275%+$27 · spread now −0.124%, 7d avg −0.007%

Together, before fees+0.278%+$28 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: Orderly is 0.116% cheaper against Popdex than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.4410	0.0096	pay 0.0012% / 1h	56m 46s	$114K	$501K	50x
Short	Orderly PERP_NEAR_USDC	4.4355	0.0100	get 0.0100% / 8h	1h 56m	$58K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.84
Price spread: −0.124% → −0.007%: −$11.65
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$23.21
Costs to cover: 0.124%
Break-even: 200.4 days

Slippage unknown: Popdex: live order book, 52 min ago; Orderly: no order-book sample. Net counts fees only.

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, 52 min ago	2.33 bp	7.2 bp −$7	66.7 bp −$667	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.4408	−0.005%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4506	+0.216%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4347	−0.143%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.755%	$578	$301K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.4410	long leg	$114K	$501K	50x
Bybit NEARUSDT	+0.0100%	8h	4.4247	−0.367%	$225.4M	$425.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4230	−0.405%	$62.5M	$295.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4419	+0.021%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4317	−0.209%	$34.0M	$59.2M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4390	−0.045%	$53.4M	$45.9M	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	4.4215	−0.439%	$73.0M	$127.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4347	−0.142%	$9.0M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4258	−0.342%	$258K	$962K	20x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.4355	−0.124%	$58K	$243K	20x
SunX NEAR-USDT	+0.0100%	8h	4.4420	+0.023%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4510	+0.225%	$461K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4330	−0.180%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4513	+0.231%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0119%	8h	4.4330	−0.180%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4380	−0.068%	$206K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0144%	8h	4.4280	−0.293%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0158%	8h	4.4330	−0.180%	$85.1M	$143.5M	200x	as long as short
Binance NEARUSDT	+0.0159%	8h	4.4318	−0.208%	$268.8M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0191%	1h	4.4345	−0.146%	$5K	$52K	10x	as long as short
Polymarket Perps NEAR-USD	+0.0227%	1h	4.4428	+0.041%	$277K	$4.0M	10x	as long as short
BloFin NEAR-USDT	+0.0279%	8h	4.4340	−0.158%	$13.3M	$32.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0305%	8h	4.4445	+0.079%	$1.1M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4355	−0.123%	$237K	—	100x	as long as short
Aster NEARUSDT	+0.0346%	8h	4.4350	−0.135%	$2.9M	$5.0M	50x	as long as short
ApeX Omni NEARUSDT	+0.0394%	1h	4.4450	+0.090%	$168K	$803K	50x	as long as short
Extended NEAR-USD	+0.0416%	1h	4.4337	−0.163%	$3.7M	$19.1M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4421	+0.025%	$2.3M	$16.3M	50x	as long as short
Nado NEAR-PERP	+0.0509%	1h	4.4390	−0.045%	$1.7M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0536%	1h	4.4391	−0.043%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0585%	1h	4.4360	−0.113%	$1.9M	$12.2M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4303	−0.242%	$7.4M	$39.1M	50x	as long as short
Hyperliquid NEAR	+0.0675%	1h	4.4300	−0.248%	$364.5M	$312.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0765%	1h	4.4366	−0.099%	$1.3M	$6.6M	20x	as long as short
Lighter NEAR	+0.0816%	1h	4.4406	−0.010%	$17.4M	$24.6M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4430	+0.045%	$223K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.1024%	1h	4.4390	−0.045%	$1.5M	$6.6M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4593	+0.412%	$1.8M	$2.4M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4543	+0.299%	$409K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1249%	1h	4.4237	−0.390%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4383	−0.062%	$688K	$1.4M	10x	as long as short