Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Orderly−0.063%7-day average +0.008% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.211%−$21 · spread now −0.063%, 7d avg +0.008%

Together, before fees−0.216%−$22 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 0.070% cheaper against Orderly than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3027	0.0100	pay 0.0100% / 8h	3h 05m	$57K	$246K	20x
Short	Popdex NEARUSDT	4.3000	0.0096	get 0.0012% / 1h	5m 57s	$110K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Orderly. 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 OrderlybpFee PopdexbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$0.84
Price spread: −0.063% → +0.008%: −$7.05
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$20.29
Costs to cover: 0.124%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 48 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Popdex live order book, 48 min ago	14.94 bp	23.2 bp −$23	57.1 bp −$571	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.2987	−0.092%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3132	+0.245%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2980	−0.109%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.758%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3072	+0.105%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDTshort	+0.0096%	1h	4.3000	−0.063%	$110K	$501K	50x
Binance NEARUSDT	+0.0100%	8h	4.3039	+0.027%	$262.9M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2999	−0.065%	$212.7M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3000	−0.063%	$60.8M	$285.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.981%	$248K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.2988	−0.091%	$32.0M	$62.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3040	+0.030%	$73.6M	$147.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3020	−0.016%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2996	−0.072%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3010	−0.040%	—	$144.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	−0.092%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	+0.272%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3206	+0.416%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3130	+0.239%	$166K	$795K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3039	+0.028%	$269K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3027	long leg	$57K	$246K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3090	+0.146%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.170%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3010	−0.040%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3121	+0.218%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3037	+0.023%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3210	+0.425%	$13.5M	$31.9M	75x	as long as short
Kalshi KXNEARPERP	+0.0261%	8h	4.3104	+0.179%	$869K	$23.5M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3169	+0.330%	$398K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2971	−0.131%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0333%	1h	4.2995	−0.074%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3030	+0.007%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3171	+0.335%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2986	−0.096%	$3.8M	$19.8M	25x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0564%	1h	4.3017	−0.023%	$1.9M	$9.9M	25x	as long as short
Nado NEAR-PERP	+0.0567%	1h	4.3029	+0.005%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0567%	1h	4.3016	−0.026%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0580%	1h	4.3043	+0.037%	$352.5M	$312.5M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3160	+0.309%	$212K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2990	−0.086%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3067	+0.093%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3324	+0.690%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1072%	1h	4.3079	+0.121%	$17.4M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3148	+0.281%	$670K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1589%	1h	4.3223	+0.456%	$5K	$12K	10x	as long as short