Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0195%/8h= +21.4% APRpaid last 24h +0.006%

Price spread now: Aster against Popdex+0.090%7-day average +0.032% · 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−$28as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.090%, 7d avg +0.032%

Together, before fees−0.129%+ Points / potential airdropAster: Stage 5 · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Aster is 0.059% dearer against Popdex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.032%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.018% in total (about 1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.3880	0.0096	pay 0.0012% / 1h	16m 38s	$111K	$484K	50x
Short	Aster NEARUSDT	4.3920	0.0291	get 0.0291% / 8h	1h 16m	$2.8M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.090%Rate

Funding earned: $41.03
Price spread: +0.090% → +0.032%: $5.85
Slippage, 4 orders: −$19.72
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: $12.76
Costs to cover: 0.341%
Break-even: 4.8 days

Slippage from Popdex: live order book, 27 min ago; Aster: 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, 27 min ago	3.34 bp	10.3 bp −$10	55.2 bp −$552	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.13 bp	6.3 bp −$6	15.0 bp −$150	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	4.3984	+0.238%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3877	−0.008%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3949	+0.157%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.629%	$578	$301K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3880	long leg	$111K	$484K	50x
Bybit NEARUSDT	+0.0100%	8h	4.3907	+0.062%	$222.6M	$430.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3880	0.000%	$62.0M	$293.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4150	+0.615%	$252K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3880	0.000%	$35.6M	$62.1M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3910	+0.068%	$53.1M	$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	4.3888	+0.018%	$72.6M	$127.3M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4097	+0.495%	$8.8M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4272	+0.893%	$259K	$917K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4140	+0.593%	$166K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4013	+0.303%	$293K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3960	+0.182%	$59K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4010	+0.296%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4060	+0.410%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3970	+0.205%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.3920	+0.091%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0109%	8h	4.4271	+0.891%	$1.5M	$1.5M	10x	as long as short
Extended NEAR-USD	+0.0120%	1h	4.3876	−0.009%	$3.7M	$18.2M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3970	+0.206%	$204K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0152%	1h	4.3937	+0.130%	$5K	$53K	10x	as long as short
BingX NEAR-USDC	+0.0200%	8h	4.3910	+0.068%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0212%	8h	4.3940	+0.137%	$78.5M	$149.6M	200x	as long as short
Binance NEARUSDT	+0.0213%	8h	4.3921	+0.093%	$267.9M	$1.08B	75x	as long as short
Kalshi KXNEARPERP	+0.0242%	8h	4.4068	+0.428%	$1.0M	$24.9M	2.2x	as long as short
Aster NEARUSDTshort	+0.0291%	8h	4.3920	+0.090%	$2.8M	$4.8M	50x
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0199%	1h	4.3953	+0.166%	$234K	—	100x	as long as short
BloFin NEAR-USDT	+0.0333%	8h	4.3940	+0.137%	$13.5M	$32.5M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0420%	1h	4.3959	+0.180%	$1.3M	$6.9M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3986	+0.242%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.3994	+0.260%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0511%	1h	4.3974	+0.214%	$358.8M	$313.3M	10x	as long as short
Nado NEAR-PERP	+0.0547%	1h	4.3995	+0.262%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0664%	1h	4.3923	+0.099%	$7.2M	$38.2M	50x	as long as short
Lighter NEAR	+0.0800%	1h	4.3981	+0.231%	$17.3M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.3920	+0.091%	$226K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0888%	1h	4.3960	+0.182%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4318	+0.998%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1162%	1h	4.3985	+0.239%	$1.9M	$13.0M	25x	as long as short
Pacifica NEAR	+0.1187%	1h	4.3932	+0.120%	$419K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.3910	+0.069%	$663K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1302%	1h	4.4165	+0.650%	$5K	$12K	10x	as long as short