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: Popdex against BingX+0.047%7-day average +0.018% · 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−$27as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.215%−$22 · spread now +0.047%, 7d avg +0.018%

Together, before fees−0.213%−$21 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: Popdex is 0.029% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDT	4.2630	0.0100	pay 0.0100% / 8h	44m 08s	—	$138.6M	—
Short	Popdex NEARUSDT	4.2650	0.0096	get 0.0012% / 1h	44m 08s	$108K	$496K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BingX. 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 BingXbpFee PopdexbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$0.84
Price spread: +0.047% → +0.018%: $2.86
Slippage, 4 orders: −$13.05
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$27.43
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Popdex: live order book, 35 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 BingX live order book, 10 min ago	1.15 bp	6.2 bp −$6	6.6 bp −$66	16.5 bp −$1,648	35.6 bp −$17.8K
Sell Popdex live order book, 35 min ago	2.37 bp	8.5 bp −$8	58.3 bp −$583	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	4.2613	−0.039%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2743	+0.265%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2649	+0.046%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2687	+0.134%	$407K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2633	+0.006%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.862%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0095%	8h	4.2574	−0.131%	$218.7M	$421.4M	75x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.2650	+0.047%	$108K	$496K	50x
Variational Omni NEAR	+0.0098%	8h	4.2670	+0.093%	$7.8M	$18.0M	—	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2630	0.000%	$31K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2667	+0.087%	$3.0M	$5.6M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2677	+0.109%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2615	−0.034%	$252.4M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2570	−0.141%	$60.8M	$284.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2660	+0.070%	$202K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3000	+0.868%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2632	+0.005%	$30.1M	$58.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2640	+0.023%	$78.8M	$140.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2670	+0.094%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2623	−0.016%	$70.8M	$126.2M	75x	as long as short
BingX NEAR-USDTlong	+0.0100%	8h	4.2630	long leg	—	$138.6M	—
edgeX NEARUSDC	+0.0100%	4h	4.2986	+0.836%	$245K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2963	+0.781%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	+0.188%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2679	+0.115%	$209K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2655	+0.059%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2690	+0.141%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2630	0.000%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2650	+0.047%	$3.9M	$8.3M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2617	−0.030%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2636	+0.015%	$205K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2648	+0.043%	$7.4M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0192%	1h	4.2674	+0.103%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2710	+0.188%	$13.0M	$30.6M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2700	+0.164%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0313%	1h	4.2639	+0.021%	$273K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2680	+0.118%	$412K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0429%	1h	4.2682	+0.122%	$1.3M	$5.5M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0430%	1h	4.2678	+0.113%	$1.9M	$2.3M	25x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2919	+0.678%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0808%	1h	4.2637	+0.018%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0870%	8h	4.2720	+0.211%	$456K	$3.6M	75x	as long as short
Hyperliquid NEAR	+0.1108%	1h	4.2716	+0.202%	$368.2M	$298.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1178%	1h	4.2868	+0.557%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1856%	1h	4.2744	+0.268%	$16.4M	$23.7M	15x	as long as short