Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against OKX+0.044%7-day average +0.053% · 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−$35as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on OKX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now +0.044%, 7d avg +0.053%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.5130	0.0100	pay 0.0100% / 8h	6h 15m	$64.6M	$310.8M	50x
Short	Popdex NEARUSDT	4.5150	0.0096	get 0.0012% / 1h	15m 10s	$124K	$522K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$0.84
Price spread: +0.044% → +0.053%: −$0.86
Slippage, 4 orders: −$17.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$35.36
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Popdex: live order book, 36 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 OKX live order book, 2 min ago	1.11 bp	9.7 bp −$10	17.3 bp −$173	40.9 bp −$4,088	doesn't fit
Sell Popdex live order book, 36 min ago	3.37 bp	7.6 bp −$8	79.1 bp −$791	doesn't fit	doesn't fit

NEAR on 45 exchanges

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	4.5136	+0.012%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0140%	1h	4.5123	−0.016%	$7.4M	$37.9M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.5048	−0.183%	$110K	$53K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.5087	−0.095%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.243%	$578	$301K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.5150	+0.044%	$124K	$522K	50x
Aster NEARUSDT	+0.0100%	8h	4.5134	+0.010%	$2.7M	$4.8M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5176	+0.101%	$274.6M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5160	+0.066%	$234.6M	$433.4M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.5130	long leg	$64.6M	$310.8M	50x

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.5110	−0.044%	$232K	$1.4M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5102	−0.062%	$269K	$12K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5123	−0.016%	$39.9M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5170	+0.089%	$78.5M	$172.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5170	+0.089%	$53.5M	$45.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5136	+0.013%	$74.8M	$130.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.5150	+0.044%	—	$78.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.5025	−0.232%	$9.0M	$17.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5132	+0.005%	$267K	$870K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5070	−0.133%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5120	−0.022%	$168K	$827K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5168	+0.084%	$283K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5170	+0.089%	$59K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5150	+0.044%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5145	+0.033%	$5K	$40K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5130	0.000%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.5140	+0.022%	$3.4M	$8.0M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.5044	−0.190%	$33K	$51	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5141	+0.024%	$3.8M	$15.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5146	+0.034%	$210K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0107%	8h	4.5135	+0.011%	$815K	$26.3M	2.2x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.5157	+0.060%	$13K	$5K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5150	+0.044%	$13.0M	$33.0M	75x	as long as short
Hyperliquid NEAR	+0.0293%	1h	4.5176	+0.102%	$364.6M	$324.2M	10x	as long as short
Lighter NEAR	+0.0304%	1h	4.5158	+0.062%	$17.6M	$23.8M	15x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0342% / S −0.0235%	1h	4.5004	−0.279%	$260K	—	100x	as long as short
Nado NEAR-PERP	+0.0422%	1h	4.5115	−0.033%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0520%	1h	4.5171	+0.091%	$2.3M	$17.8M	50x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.5105	−0.056%	$643K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0648%	1h	4.5197	+0.148%	$1.6M	$6.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0714%	1h	4.5192	+0.137%	$1.1M	$7.0M	20x	as long as short
Phoenix NEAR	+0.0851%	1h	4.5254	+0.275%	$1.7M	$2.5M	10x	as long as short
Pacifica NEAR	+0.0883%	1h	4.5086	−0.097%	$418K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0946%	1h	4.5197	+0.148%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1177%	1h	4.5178	+0.105%	$6K	$7K	10x	as long as short