Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Gate−0.070%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on Gate Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.070%, 7d avg +0.032%

Together, before fees+0.074%+$7 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: Popdex is 0.102% cheaper against Gate than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.4211	0.0100	pay 0.0100% / 8h	7h 21m	$37.2M	$62.4M	75x
Short	Popdex NEARUSDT	4.4180	0.0096	get 0.0012% / 1h	21m 13s	$122K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Gate. 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 GatebpFee PopdexbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$0.84
Price spread: −0.070% → +0.032%: −$10.17
Slippage, 4 orders: −$33.58
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$65.99
Costs to cover: 0.550%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Popdex: live order book, 13 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 Gate live order book, 3 min ago	4.53 bp	13.1 bp −$13	18.8 bp −$188	35.0 bp −$3,500	53.5 bp −$26.7K
Sell Popdex live order book, 13 min ago	4.59 bp	9.7 bp −$10	58.0 bp −$580	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
Kraken Futures PF_NEARUSD	−0.0427%	1h	4.4269	+0.131%	$7.3M	$38.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4189	−0.051%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4153	−0.131%	$108K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4211	0.000%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.336%	$578	$301K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4180	−0.070%	$122K	$501K	50x
Aster NEARUSDT	+0.0100%	8h	4.4272	+0.138%	$2.7M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4280	+0.156%	$266.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4277	+0.149%	$223.0M	$426.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4260	+0.111%	$62.4M	$298.3M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.4240	+0.066%	$224K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−1.043%	$252K	$3K	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4211	long leg	$37.2M	$62.4M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4290	+0.179%	$90.9M	$158.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4290	+0.179%	$53.1M	$45.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4218	+0.016%	$73.0M	$127.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4220	+0.020%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3876	−0.757%	$9.1M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4218	+0.015%	$256K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4259	+0.108%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4220	+0.020%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4180	−0.070%	$276K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4280	+0.156%	$57K	$238K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4290	+0.179%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4270	+0.133%	$5K	$49K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4260	+0.111%	$3.5M	$7.7M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4170	−0.092%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4264	+0.121%	$3.7M	$15.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4285	+0.167%	$206K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0137%	8h	4.4246	+0.079%	$875K	$25.5M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4310	+0.224%	$12.7M	$32.6M	75x	as long as short
Nado NEAR-PERP	+0.0230%	1h	4.4190	−0.047%	$1.7M	$3.2M	10x	as long as short
Hyperliquid NEAR	+0.0272%	1h	4.4249	+0.086%	$358.3M	$315.1M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.4219	+0.018%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0356% / S −0.0259%	1h	4.4261	+0.114%	$260K	—	100x	as long as short
Lighter RH NEAR	+0.0440%	1h	4.4332	+0.274%	$1.5M	$6.5M	10x	as long as short
Lighter NEAR	+0.0464%	1h	4.4322	+0.251%	$17.5M	$24.0M	15x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4320	+0.247%	$2.3M	$17.4M	50x	as long as short
HTX NEAR-USDT	+0.0490%	8h	4.4340	+0.292%	$468K	$3.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0545%	1h	4.4265	+0.122%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4300	+0.202%	$599K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4169	−0.094%	$416K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4057	−0.348%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0767%	1h	4.4301	+0.204%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1016%	1h	4.4034	−0.401%	$6K	$7K	10x	as long as short