Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against KuCoin−0.137%7-day average −0.019% · 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−$59as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.137%, 7d avg −0.019%

Together, before fees+0.046%+$5 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 0.118% cheaper against KuCoin than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.3840	0.0100	pay 0.0100% / 8h	5h 50m	$54.7M	$43.9M	75x
Short	Popdex NEARUSDT	4.3780	0.0096	get 0.0012% / 1h	50m 33s	$115K	$484K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against KuCoin. 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 KuCoinbpFee PopdexbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$0.84
Price spread: −0.137% → −0.019%: −$11.79
Slippage, 4 orders: −$29.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$60.05
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Popdex: live order book, 13 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 KuCoin live order book, 4 min ago	1.14 bp	14.3 bp −$14	23.9 bp −$239	84.1 bp −$8,410	doesn't fit
Sell Popdex live order book, 13 min ago	2.29 bp	7.5 bp −$8	54.5 bp −$545	doesn't fit	doesn't fit

NEAR on 44 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	4.3678	−0.370%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3907	+0.153%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3816	−0.054%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3889	+0.112%	$550K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3918	+0.179%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.543%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.3780	−0.137%	$115K	$484K	50x
Pacifica NEAR	+0.0100%	1h	4.3876	+0.081%	$414K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3800	−0.091%	$265.9M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3709	−0.299%	$221.0M	$416.7M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3680	−0.365%	$62.4M	$288.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.418%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3829	−0.025%	$31.5M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3680	−0.365%	$75.4M	$139.8M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3840	long leg	$54.7M	$43.9M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3698	−0.324%	$71.7M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3810	−0.068%	—	$144.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.197%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3800	−0.090%	$268K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3770	−0.160%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3790	−0.114%	$195K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3788	−0.119%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3955	+0.262%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3980	+0.319%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3935	+0.217%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4060	+0.502%	$460K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3940	+0.228%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3858	+0.042%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3789	−0.117%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3942	+0.233%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0202%	8h	4.3887	+0.108%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3918	+0.179%	$257K	—	100x	as long as short
Nado NEAR-PERP	+0.0378%	1h	4.3730	−0.251%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3787	−0.121%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3850	+0.023%	$209K	$1.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0478%	1h	4.3974	+0.306%	$1.9M	$4.3M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0695%	1h	4.3922	+0.187%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0701%	1h	4.3967	+0.289%	$8.2M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0776%	1h	4.3904	+0.146%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0786%	1h	4.3764	−0.173%	$368.8M	$304.3M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3944	+0.237%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3824	−0.038%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.1080%	1h	4.3949	+0.250%	$17.6M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1671%	1h	4.3812	−0.065%	$6K	$12K	10x	as long as short