Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0767%/8h= −84.0% APRpaid last 24h −0.067%

Price spread now: Popdex against HTX+0.164%7-day average −0.236% · 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−$12as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on HTX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.314%−$31 on $10k

Price spread, last 3 days (all we have)−0.600%−$60 · spread now +0.164%, 7d avg −0.236%

Together, before fees−0.915%−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.400% dearer against HTX than usual: you sell high and buy low (spread +0.164% now, against its 7-day average of −0.236%): +$40 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 42 hours. At the pace of the last 3 days (−0.314% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NEAR-USDT	4.2640	0.0863	pay 0.0863% / 8h	41m 31s	$455K	$3.7M	75x
Short	Popdex NEARUSDT	4.2710	0.0096	get 0.0012% / 1h	41m 31s	$109K	$496K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against HTX. 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 HTXbpFee PopdexbpOrdersPrice spread, now +0.164%Rate

Funding earned: −$161.15
Price spread: +0.164% → −0.236%: $39.98
Slippage, 4 orders: −$33.65
Fee HTX: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$173.22
Costs to cover: 0.520%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Popdex: live order book, 37 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 HTX live order book, 2 min ago	9.36 bp	16.9 bp −$17	32.3 bp −$323	doesn't fit	doesn't fit
Sell Popdex live order book, 37 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	4.2533	−0.251%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2624	−0.038%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2625	−0.036%	$110K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2606	−0.080%	$418K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2613	−0.064%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.885%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0086%	8h	4.2710	+0.164%	$219.0M	$421.6M	75x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.2710	+0.164%	$109K	$496K	50x
Variational Omni NEAR	+0.0098%	8h	4.2670	+0.070%	$7.8M	$18.0M	—	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2623	−0.041%	$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	4.2658	+0.041%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2659	+0.044%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2724	+0.196%	$253.1M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2710	+0.164%	$60.7M	$285.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2670	+0.070%	$201K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3000	+0.844%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2641	+0.002%	$30.0M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2640	0.000%	$77.7M	$140.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2670	+0.070%	$55.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2645	+0.012%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2660	+0.047%	—	$138.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2703	+0.148%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2680	+0.094%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	+0.164%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2556	−0.197%	$205K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2600	−0.094%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2660	+0.047%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2578	−0.145%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2570	−0.164%	$3.8M	$8.3M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2639	−0.003%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2588	−0.122%	$205K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2587	−0.124%	$7.4M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.2672	+0.075%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2690	+0.117%	$13.1M	$30.7M	75x	as long as short
Lighter RH NEAR	+0.0360%	1h	4.2701	+0.143%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0373% / S −0.0313%	1h	4.2610	−0.070%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2695	+0.128%	$412K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0421%	1h	4.2607	−0.077%	$1.3M	$5.5M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0431%	1h	4.2634	−0.014%	$1.9M	$2.3M	25x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2745	+0.246%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0774%	1h	4.2714	+0.174%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDTlong	+0.0863%	8h	4.2640	long leg	$455K	$3.7M	75x
Hyperliquid NEAR	+0.1029%	1h	4.2675	+0.082%	$366.6M	$299.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1189%	1h	4.2796	+0.366%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1808%	1h	4.2750	+0.258%	$16.4M	$23.7M	15x	as long as short