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: BingX against Popdex−0.113%7-day average −0.020% · 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−$41as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Popdex Short on BingX

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)+0.140%+$14 · spread now −0.113%, 7d avg −0.020%

Together, before fees+0.144%+$14 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: BingX is 0.093% cheaper against Popdex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex NEARUSDT	4.4350	0.0096	pay 0.0012% / 1h	27m 28s	$116K	$490K	50x
Short	BingX NEAR-USDT	4.4300	0.0100	get 0.0100% / 8h	5h 27m	—	$145.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Popdex. 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 PopdexbpFee BingXbpOrdersPrice spread, now −0.113%Rate

Funding earned: $0.84
Price spread: −0.113% → −0.020%: −$9.29
Slippage, 4 orders: −$15.46
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$40.31
Costs to cover: 0.319%
Break-even: 342.9 days

Slippage from Popdex: live order book, 36 min ago; BingX: 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 Popdex live order book, 36 min ago	2.29 bp	8.3 bp −$8	70.0 bp −$700	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	2.28 bp	8.7 bp −$9	12.4 bp −$124	27.5 bp −$2,746	58.8 bp −$29.4K

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	4.4264	−0.193%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4291	−0.133%	$2.2M	$14.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4381	+0.069%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4345	−0.011%	$589K	$19.8M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.4295	−0.124%	$1.9M	$4.4M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4307	−0.096%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.629%	$578	$302K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.4350	long leg	$116K	$490K	50x
Pacifica NEAR	+0.0100%	1h	4.4353	+0.007%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4322	−0.063%	$269.1M	$1.08B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.4290	−0.135%	$222.8M	$419.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4240	−0.248%	$63.7M	$293.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	+0.159%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4342	−0.018%	$32.1M	$62.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4320	−0.068%	$76.6M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4320	−0.068%	$55.6M	$44.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4277	−0.165%	$73.0M	$127.1M	75x	as long as short
BingX NEAR-USDTshort	+0.0100%	8h	4.4300	−0.113%	—	$145.1M	—
Variational Omni NEAR	+0.0100%	8h	4.4186	−0.370%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4398	+0.108%	$266K	$984K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4397	+0.107%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4160	−0.428%	$172K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4349	−0.002%	$212K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4257	−0.210%	$61K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4310	−0.090%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4280	−0.158%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	−0.023%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4270	−0.180%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4336	−0.032%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4347	−0.006%	$3.8M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4290	−0.135%	$206K	$34K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4520	+0.383%	$13.7M	$31.7M	75x	as long as short
Aster NEARUSDT	+0.0240%	8h	4.4343	−0.016%	$3.0M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4279	−0.160%	$261K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.4356	+0.014%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0402%	1h	4.4280	−0.158%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4390	+0.090%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0550%	1h	4.4349	−0.002%	$1.4M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0694%	1h	4.4335	−0.034%	$369.1M	$309.4M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0696%	1h	4.4280	−0.158%	$8.2M	$40.9M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.4397	+0.106%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4364	+0.032%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4386	+0.082%	$538K	$1.3M	10x	as long as short
Lighter NEAR	+0.1272%	1h	4.4376	+0.060%	$17.7M	$25.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1660%	1h	4.4306	−0.100%	$6K	$12K	10x	as long as short