Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Paradex against Popdex−0.306%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.306% cheaper against Popdex than usual: you would sell low and buy high, −$31 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.3000	0.0096	pay 0.0012% / 1h	45m 46s	$112K	$478K	50x
Short	Paradex NEAR-USD-PERP	4.2869	0.0099	get 0.0099% / 8h	7h 45m	$31K	$647	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.306%Rate

Funding earned: $0.73
Price spread: −0.306% → 0.000%: −$30.56
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$40.23
Costs to cover: 0.104%
Break-even: 391.1 days

Slippage unknown: Popdex: live order book, 28 min ago; Paradex: no order-book sample. Net counts fees only.

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, 28 min ago	1.17 bp	6.5 bp −$7	80.1 bp −$801	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.2927	−0.169%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0147%	8h	4.2860	−0.326%	$218.7M	$418.8M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3043	+0.100%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2960	−0.093%	$2.3M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2866	−0.311%	$111K	$64K	10x	as long as short
01 Exchange NEARUSD	0.0000%	1h	4.3001	+0.002%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2913	−0.202%	$377K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2992	−0.019%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0008%	8h	4.2958	−0.097%	$8.0M	$18.7M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.698%	$578	$302K	12x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0056%	8h	4.2887	−0.263%	$30.9M	$58.7M	75x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3000	long leg	$112K	$478K	50x
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3056	+0.130%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERPshort	+0.0099%	8h	4.2869	−0.306%	$31K	$647	10x
Aster NEARUSDT	+0.0100%	8h	4.2892	−0.251%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2893	−0.248%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2871	−0.299%	$254.8M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2860	−0.326%	$60.9M	$278.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2910	−0.209%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	+0.116%	$245K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2890	−0.256%	$79.5M	$138.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	−0.209%	$56.2M	$43.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2873	−0.295%	$71.1M	$124.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2880	−0.279%	—	$141.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3101	+0.235%	$277K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3108	+0.251%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3120	+0.279%	$180K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2974	−0.060%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3100	+0.233%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3010	+0.023%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.233%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2970	−0.070%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2863	−0.318%	$3.9M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3043	+0.099%	$200K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2970	−0.070%	$13.1M	$29.1M	75x	as long as short
Hyperliquid NEAR	+0.0265%	1h	4.2900	−0.233%	$365.3M	$300.5M	10x	as long as short
Lighter RH NEAR	+0.0288%	1h	4.2916	−0.195%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0354%	1h	4.3076	+0.177%	$1.9M	$3.0M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2985	−0.035%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2914	−0.200%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0448%	1h	4.2943	−0.133%	$1.9M	$3.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0468%	1h	4.2967	−0.077%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.398%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1279%	1h	4.3056	+0.131%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2176%	1h	4.2998	−0.006%	$17.2M	$23.9M	15x	as long as short