Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Gate+0.372%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−$36as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Gate Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.509%−$51 · spread now +0.372%, 7d avg +0.033%

Together, before fees−0.515%−$51 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 0.339% dearer against Gate than usual: you sell high and buy low, +$34 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	Gate NEAR_USDT	4.4315	0.0100	pay 0.0100% / 8h	4h 40m	$32.1M	$63.2M	75x
Short	Popdex NEARUSDT	4.4480	0.0096	get 0.0012% / 1h	40m 16s	$117K	$516K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Gate. 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 GatebpFee PopdexbpOrdersPrice spread, now +0.372%Rate

Funding earned: −$0.84
Price spread: +0.372% → +0.033%: $33.9
Slippage, 4 orders: −$48.58
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$36.92
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Popdex: live order book, 19 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 Gate live order book, 4 min ago	2.46 bp	11.5 bp −$11	19.0 bp −$190	34.7 bp −$3,474	55.3 bp −$27.6K
Sell Popdex live order book, 19 min ago	12.27 bp	21.4 bp −$21	55.2 bp −$552	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	4.4284	−0.070%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4428	+0.255%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4566	+0.566%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4524	+0.472%	$623K	$21.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4299	−0.036%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.555%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4480	+0.372%	$117K	$516K	50x
Pacifica NEAR	+0.0100%	1h	4.4565	+0.565%	$426K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4345	+0.068%	$271.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4281	−0.077%	$222.7M	$424.2M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4260	−0.124%	$63.2M	$300.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.530%	$254K	−$0	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4315	long leg	$32.1M	$63.2M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.4360	+0.102%	$74.6M	$148.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4390	+0.169%	$55.1M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4261	−0.122%	$72.8M	$130.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4320	+0.011%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+0.568%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	+0.577%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4375	+0.134%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4230	−0.192%	$170K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4331	+0.036%	$239K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4314	−0.002%	$56K	$229K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4390	+0.169%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4242	−0.165%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	+0.056%	$461K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4270	−0.102%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4529	+0.482%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4315	0.000%	$206K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0182%	1h	4.4366	+0.115%	$366.4M	$327.1M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4268	−0.106%	$4.0M	$19.6M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4590	+0.621%	$14.1M	$33.3M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0224%	1h	4.4619	+0.686%	$1.4M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4538	+0.503%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0300%	8h	4.4559	+0.551%	$3.1M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0314%	1h	4.4320	+0.011%	$2.0M	$6.8M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0217%	1h	4.4309	−0.014%	$248K	—	100x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.4282	−0.074%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0517%	1h	4.4278	−0.084%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4670	+0.801%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0587%	1h	4.4237	−0.176%	$8.2M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4521	+0.465%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0824%	1h	4.4315	−0.001%	$17.8M	$26.2M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4523	+0.469%	$565K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1555%	1h	4.4580	+0.597%	$6K	$12K	10x	as long as short