Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Popdex+0.112%7-day average −0.033% · 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−$29as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on Popdex Short on Gate

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)−0.050%−$5 · spread now +0.112%, 7d avg −0.033%

Together, before fees−0.047%−$5 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: Gate is 0.145% dearer against Popdex than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.2690	0.0096	pay 0.0012% / 1h	46m 05s	$111K	$500K	50x
Short	Gate NEAR_USDT	4.2738	0.0100	get 0.0100% / 8h	2h 46m	$32.0M	$59.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.112%Rate

Funding earned: $0.84
Price spread: +0.112% → −0.033%: $14.54
Slippage, 4 orders: −$21.94
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.96
Costs to cover: 0.433%
Break-even: 240.0 days

Slippage from Popdex: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	2.33 bp	7.2 bp −$7	66.7 bp −$667	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.70 bp	15.5 bp −$16	21.5 bp −$215	34.2 bp −$3,417	49.1 bp −$24.5K

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	4.2688	−0.005%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2717	+0.064%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2679	−0.026%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.998%	$578	$301K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.2690	long leg	$111K	$500K	50x
Binance NEARUSDT	+0.0100%	8h	4.2770	+0.187%	$261.3M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2744	+0.126%	$212.3M	$423.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2770	+0.187%	$60.2M	$284.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	+0.341%	$244K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.2738	+0.112%	$32.0M	$59.6M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2780	+0.211%	$70.2M	$142.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2780	+0.211%	$52.9M	$45.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2753	+0.148%	$70.7M	$127.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2770	+0.187%	—	$144.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2678	−0.029%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2870	+0.422%	$250K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2882	+0.451%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2721	+0.073%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2731	+0.096%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2820	+0.305%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2800	+0.258%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2760	+0.164%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2727	+0.087%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2750	+0.141%	$199K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2760	+0.164%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2732	+0.098%	$2.3M	$15.7M	50x	as long as short
Kalshi KXNEARPERP	+0.0260%	8h	4.2748	+0.136%	$842K	$24.4M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2669	−0.048%	$229K	—	100x	as long as short
Nado NEAR-PERP	+0.0330%	1h	4.2685	−0.011%	$1.7M	$3.2M	10x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.2740	+0.117%	$2.8M	$5.4M	50x	as long as short
ApeX Omni NEARUSDT	+0.0347%	1h	4.2880	+0.445%	$165K	$794K	50x	as long as short
Extended NEAR-USD	+0.0520%	1h	4.2696	+0.014%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0560%	1h	4.2735	+0.105%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0633%	1h	4.2786	+0.225%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0668%	1h	4.2800	+0.258%	$349.7M	$311.5M	10x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.2769	+0.185%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0740%	1h	4.2727	+0.088%	$7.5M	$38.7M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2770	+0.187%	$210K	$1.6M	10x	as long as short
Lighter NEAR	+0.0832%	1h	4.2801	+0.259%	$16.7M	$25.0M	15x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2765	+0.176%	$391K	$1.3M	10x	as long as short
Lighter RH NEAR	+0.1016%	1h	4.2800	+0.258%	$1.5M	$7.3M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2961	+0.635%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2753	+0.147%	$685K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1466%	1h	4.2781	+0.212%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.2186%	1h	4.2790	+0.234%	$1.9M	$11.0M	25x	as long as short