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 OKX+0.364%53s7-day average +0.056% · 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—prices read too far apart to compare

costs, in and out, $10k−$350.346% of the position

Long on OKX 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)−0.270%−$27 · spread now +0.364%, 7d avg +0.056%

Together, before fees−0.280%−$28 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 0.308% dearer against OKX than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.056%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3900	0.0100	pay 0.0100% / 8h	5h 51m	$62.7M	$289.8M	50x
Short	Popdex NEARUSDT	4.4060	0.0096	get 0.0012% / 1h	51m 45s	$116K	$488K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now +0.364%Rate

Funding earned: −$0.84
Price spread: +0.364% → +0.056%: $30.81
Slippage, 4 orders: −$18.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$4.6
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Popdex: live order book, 12 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 OKX live order book, 2 min ago	1.14 bp	10.7 bp −$11	17.9 bp −$179	37.8 bp −$3,783	doesn't fit
Sell Popdex live order book, 12 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	4.4044	+0.329%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3764	−0.310%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3879	−0.047%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3858	−0.096%	$550K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4046	+0.333%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.672%	$578	$302K	12x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.4060	+0.364%	$116K	$488K	50x
Pacifica NEAR	+0.0100%	1h	4.3954	+0.123%	$415K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3912	+0.026%	$266.6M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3889	−0.025%	$221.8M	$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-SWAPlong	+0.0100%	8h	4.3900	long leg	$62.7M	$289.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.554%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4043	+0.326%	$31.7M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3910	+0.023%	$75.9M	$139.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3910	+0.023%	$54.8M	$43.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3935	+0.080%	$72.1M	$126.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4050	+0.342%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3808	−0.210%	$8.4M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3659	−0.550%	$267K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3657	−0.553%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3610	−0.661%	$194K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4090	+0.433%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4058	+0.360%	$61K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4080	+0.410%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4065	+0.376%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.592%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4060	+0.364%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3977	+0.175%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4029	+0.295%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4079	+0.407%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0202%	8h	4.4040	+0.319%	$3.0M	$5.5M	50x	as long as short
Nado NEAR-PERP	+0.0325%	1h	4.4055	+0.353%	$1.9M	$3.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0243%	1h	4.4024	+0.283%	$258K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4104	+0.465%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3920	+0.046%	$209K	$1.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0522%	1h	4.4095	+0.444%	$1.9M	$4.3M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0698%	1h	4.4129	+0.522%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0699%	1h	4.4104	+0.465%	$8.2M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0776%	1h	4.3952	+0.118%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0845%	1h	4.4135	+0.535%	$371.8M	$304.1M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3900	0.000%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4073	+0.395%	$556K	$1.3M	10x	as long as short
Lighter NEAR	+0.1056%	1h	4.3991	+0.206%	$17.6M	$25.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1665%	1h	4.3755	−0.330%	$6K	$12K	10x	as long as short