Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0217%/8h= −23.7% APRpaid last 24h −0.006%

Price spread now: Popdex against Aster−0.190%7-day average −0.034% · 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−$79as in the Price arb table

costs, in and out, $10k−$630.635% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.410%+$41 · spread now −0.190%, 7d avg −0.034%

Together, before fees+0.389%+ Points / potential airdropAster: Stage 5 · farm board+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Popdex is 0.156% cheaper against Aster than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.021% in total (about -2.1% 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	Aster NEARUSDT	4.3162	0.0313	pay 0.0313% / 8h	3h 45m	$2.9M	$5.6M	50x
Short	Popdex NEARUSDT	4.3080	0.0096	get 0.0012% / 1h	45m 36s	$106K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Aster. 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 AsterbpFee PopdexbpOrdersPrice spread, now −0.190%Rate

Funding earned: −$45.49
Price spread: −0.190% → −0.034%: −$15.64
Slippage, 4 orders: −$49.07
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$124.6
Costs to cover: 0.635%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Popdex: live order book, 8 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 Aster live order book, 3 min ago	3.44 bp	9.6 bp −$10	18.9 bp −$189	doesn't fit	doesn't fit
Sell Popdex live order book, 8 min ago	14.94 bp	23.2 bp −$23	57.1 bp −$571	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	4.3095	−0.155%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3049	−0.262%	$106K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3419	+0.594%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.059%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3468	+0.709%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.3080	−0.190%	$106K	$501K	50x
Binance NEARUSDT	+0.0100%	8h	4.3120	−0.098%	$265.1M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3079	−0.193%	$215.2M	$427.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3110	−0.121%	$61.3M	$290.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+1.411%	$249K	−$0	10x	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	+0.0100%	8h	4.3061	−0.234%	$31.5M	$60.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3080	−0.190%	$72.0M	$144.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3120	−0.098%	$53.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3105	−0.132%	$70.7M	$129.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3070	−0.213%	—	$146.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.545%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.653%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3580	+0.968%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	+0.621%	$167K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3115	−0.109%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3462	+0.695%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3490	+0.760%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3450	+0.667%	$454K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3450	+0.667%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3040	−0.283%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3470	+0.713%	$202K	$40K	3x	as long as short
Kalshi KXNEARPERP	+0.0131%	8h	4.3437	+0.637%	$610K	$22.9M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.574%	$13.7M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3106	−0.129%	$409K	$1.2M	10x	as long as short
Aster NEARUSDTlong	+0.0313%	8h	4.3162	long leg	$2.9M	$5.6M	50x
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0191%	1h	4.3416	+0.589%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0418%	1h	4.3435	+0.632%	$8K	$52K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0497%	1h	4.3402	+0.556%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.3116	−0.107%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0568%	1h	4.3143	−0.044%	$354.4M	$319.8M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3150	−0.028%	$211K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0656%	1h	4.3048	−0.264%	$3.8M	$19.8M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0710%	1h	4.3394	+0.538%	$7.7M	$39.7M	50x	as long as short
Nado NEAR-PERP	+0.0775%	1h	4.3097	−0.151%	$1.8M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0896%	1h	4.3144	−0.042%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3717	+1.286%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1160%	1h	4.3141	−0.049%	$17.4M	$24.9M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3130	−0.073%	$623K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1619%	1h	4.3533	+0.860%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.2215%	1h	4.3523	+0.836%	$1.9M	$8.4M	25x	as long as short