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 MEXC−0.071%7-day average +0.023% · 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−$32as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.071%, 7d avg +0.023%

Together, before fees+0.042%+$4 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 0.094% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.2520	0.0100	pay 0.0100% / 8h	14m 09s	$77.5M	$142.4M	200x
Short	Popdex NEARUSDT	4.2490	0.0096	get 0.0012% / 1h	14m 09s	$109K	$496K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against MEXC. 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 MEXCbpFee PopdexbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$0.84
Price spread: −0.071% → +0.023%: −$9.39
Slippage, 4 orders: −$16.49
Fee MEXC: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$33.12
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Popdex: live order book, 65 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 MEXC live order book, 5 min ago	1.17 bp	3.0 bp −$3	4.1 bp −$41	36.4 bp −$3,637	73.6 bp −$36.8K
Sell Popdex live order book, 65 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	4.2462	−0.137%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2495	−0.059%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2530	+0.024%	$110K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2676	+0.367%	$363K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2526	+0.014%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.611%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0047%	8h	4.2759	+0.562%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0050%	8h	4.2503	−0.040%	$216.4M	$422.5M	75x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.2503	−0.040%	$12K	$7K	10x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.2490	−0.071%	$109K	$496K	50x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2540	+0.047%	$56K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2535	+0.034%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2554	+0.080%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2532	+0.028%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2540	+0.047%	$251.9M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2530	+0.024%	$60.4M	$285.0M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2510	−0.024%	$195K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+1.011%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2521	+0.002%	$30.4M	$60.1M	75x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.2520	long leg	$77.5M	$142.4M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2540	+0.047%	$55.5M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2530	+0.024%	$70.6M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2520	0.000%	—	$140.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2754	+0.550%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2783	+0.618%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2750	+0.541%	$179K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2502	−0.042%	$196K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2550	+0.071%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2515	−0.012%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2530	+0.024%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2516	−0.010%	$3.9M	$16.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2525	+0.012%	$201K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2549	+0.069%	$7.6M	$37.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0126%	1h	4.2561	+0.096%	$1.9M	$2.5M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2680	+0.376%	$13.0M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.2596	+0.179%	$1.5M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0314%	1h	4.2519	−0.002%	$273K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2531	+0.026%	$417K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0442%	1h	4.2575	+0.129%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.875%	$1.8M	$2.7M	10x	as long as short
Hyperliquid NEAR	+0.0671%	1h	4.2591	+0.167%	$363.5M	$300.6M	10x	as long as short
Nado NEAR-PERP	+0.0688%	1h	4.2485	−0.082%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0777%	8h	4.2570	+0.118%	$456K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1139%	1h	4.2737	+0.510%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1688%	1h	4.2635	+0.270%	$16.5M	$24.1M	15x	as long as short