Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: SunX against Popdex−0.140%7-day average +0.133% · 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−$174as in the Price arb table

costs, in and out, $10k−$1471.466% of the position

Long on Popdex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.501%+$50 · spread now −0.140%, 7d avg +0.133%

Together, before fees+0.504%+$50 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: SunX is 0.273% cheaper against Popdex than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.133%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.2840	0.0096	pay 0.0012% / 1h	12m 22s	$110K	$497K	50x
Short	SunX NEAR-USDT	4.2780	0.0100	get 0.0100% / 8h	12m 22s	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0.84
Price spread: −0.140% → +0.133%: −$27.31
Slippage, 4 orders: −$132.22
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$173.09
Costs to cover: 1.466%
Break-even: 1449.4 days

Slippage from Popdex: live order book, 2 min ago; SunX: 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, 2 min ago	1.17 bp	6.5 bp −$7	80.1 bp −$801	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	30.52 bp	80.9 bp −$81	doesn't fit	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	4.2814	−0.061%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2745	−0.222%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2768	−0.168%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2667	−0.404%	$366K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2842	+0.005%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.338%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0047%	8h	4.2759	−0.190%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0053%	8h	4.2826	−0.033%	$218.1M	$422.9M	75x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.2843	+0.007%	$13K	$7K	10x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.2840	long leg	$110K	$497K	50x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2803	−0.086%	$31K	$647	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2855	+0.035%	$57K	$194K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2860	+0.047%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2763	−0.180%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2837	−0.006%	$253.6M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2830	−0.023%	$60.9M	$287.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2830	−0.023%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.257%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2828	−0.028%	$31.0M	$60.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2830	−0.023%	$78.6M	$142.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2860	+0.047%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2826	−0.033%	$71.1M	$126.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2820	−0.047%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2693	−0.343%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2783	−0.133%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2690	−0.350%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2860	+0.047%	$196K	$3.5M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.2780	−0.140%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.2755	−0.198%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2710	−0.303%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2813	−0.063%	$3.9M	$16.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2770	−0.163%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2790	−0.117%	$7.6M	$37.6M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2710	−0.303%	$13.1M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.2822	−0.042%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2765	−0.174%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2861	+0.050%	$421K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0446%	1h	4.2770	−0.163%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.121%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0475%	1h	4.2815	−0.058%	$1.9M	$2.5M	25x	as long as short
Nado NEAR-PERP	+0.0666%	1h	4.2800	−0.093%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0666%	1h	4.2886	+0.107%	$365.9M	$301.4M	10x	as long as short
HTX NEAR-USDT	+0.0774%	8h	4.2790	−0.117%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1120%	1h	4.2772	−0.160%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1696%	1h	4.2868	+0.066%	$16.9M	$24.2M	15x	as long as short