Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0032%/8hnext payment +$0.04 per $10,000 · paid last 24h −0.040%

Price spread now: Popdex against Deribit+0.012%7-day average −0.052% · 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−$32as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Deribit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.194%−$19 on $10k

Price spread, last 3 days (all we have)−0.152%−$15 · spread now +0.012%, 7d avg −0.052%

Together, before fees−0.346%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Popdex is 0.064% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.052%. Mind the row above: over the last 3 days funding on this pair cost −0.194%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.1465	0.0064	pay 0.0008% / 1h	23m 05s	$1.8M	$2.0M	25x
Short	Popdex NEARUSDT	4.1470	0.0096	get 0.0012% / 1h	23m 05s	$105K	$498K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Deribit. 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 DeribitbpFee PopdexbpOrdersPrice spread, now +0.012%Rate

Funding earned: $6.72
Price spread: +0.012% → −0.052%: $6.37
Slippage, 4 orders: −$25.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$25.59
Costs to cover: 0.387%
Break-even: 33.7 days

Slippage from Deribit: live order book, just now; Popdex: live order book, 10 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 Deribit live order book, just now	3.13 bp	11.4 bp −$11	231.4 bp −$2,314	doesn't fit	doesn't fit
Sell Popdex live order book, 10 min ago	4.87 bp	11.1 bp −$11	66.0 bp −$660	doesn't fit	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	4.1435	−0.073%	$2K	—	20x	as long as short
Extended NEAR-USD	−0.0024%	1h	4.1430	−0.084%	$3.5M	$14.1M	25x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1391	−0.179%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1418	−0.113%	$432K	$20.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1456	−0.022%	$202K	—	150x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0032%	1h	4.1445	−0.048%	$2.1M	$12.7M	50x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0064%	1h	4.1465	long leg	$1.8M	$2.0M	25x
Popdex NEARUSDTshort	+0.0096%	1h	4.1470	+0.012%	$105K	$498K	50x
Aster NEARUSDT	+0.0100%	8h	4.1454	−0.027%	$2.8M	$5.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1445	−0.049%	$237.0M	$1.11B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.1490	+0.060%	$207.8M	$429.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1510	+0.109%	$57.2M	$287.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1440	−0.060%	$244K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1127	−0.815%	$235K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1472	+0.017%	$29.2M	$56.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1510	+0.109%	$81.9M	$145.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1470	+0.012%	$57.9M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1519	+0.130%	$69.6M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1500	+0.084%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1325	−0.338%	$7.6M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1249	−0.522%	$262K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1280	−0.446%	$1.4M	$1.1M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1250	−0.519%	$112K	$754K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1469	+0.010%	$220K	$3.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1453	−0.029%	$52K	$163K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1490	+0.060%	$2K	$1.5M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1535	+0.169%	$5K	$45K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1460	−0.012%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1403	−0.150%	$30K	$2K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1430	−0.084%	$200K	$66K	3x	as long as short
Injective NEAR/USDC PERP	+0.0120%	1h	4.1000	−1.121%	$572	$150K	12x	as long as short
01 Exchange NEARUSD	+0.0200%	1h	4.1495	+0.072%	$12K	$8K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1420	−0.109%	$12.6M	$33.2M	75x	as long as short
Kraken Futures PF_NEARUSD	+0.0241%	1h	4.1486	+0.050%	$7.4M	$34.5M	50x	as long as short
Lighter RH NEAR	+0.0248%	1h	4.1504	+0.094%	$1.4M	$7.3M	10x	as long as short
Nado NEAR-PERP	+0.0290%	1h	4.1435	−0.072%	$1.8M	$3.9M	10x	as long as short
Pacifica NEAR	+0.0319%	1h	4.1408	−0.137%	$438K	$1.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0312%	1h	4.1439	−0.063%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0378%	1h	4.1497	+0.077%	$397K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0618%	1h	4.1391	−0.178%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0680%	1h	4.1514	+0.118%	$15.4M	$22.5M	15x	as long as short
Hyperliquid NEAR	+0.0840%	1h	4.1577	+0.270%	$349.4M	$304.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0956%	1h	4.1568	+0.248%	$1.5M	$4.7M	20x	as long as short
Aftermath Perps NEARUSD	+0.1083%	1h	4.1308	−0.379%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1246%	8h	4.1580	+0.277%	$452K	$4.1M	75x	as long as short