Funding arb · Price arb /

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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: KuCoin against Popdex−0.183%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−$68as in the Price arb table

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

Long on Popdex Short on KuCoin

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)+0.264%+$26 · spread now −0.183%, 7d avg +0.019%

Together, before fees+0.274%+$27 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: KuCoin is 0.202% cheaper against Popdex than usual: you would sell low and buy high, −$20 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	Popdex NEARUSDT	4.3780	0.0096	pay 0.0012% / 1h	49m 48s	$115K	$484K	50x
Short	KuCoin NEARUSDTM	4.3700	0.0100	get 0.0100% / 8h	5h 49m	$54.5M	$44.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.183%Rate

Funding earned: $0.84
Price spread: −0.183% → +0.019%: −$20.17
Slippage, 4 orders: −$29.02
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.75
Costs to cover: 0.474%
Break-even: 563.2 days

Slippage from Popdex: live order book, 14 min ago; KuCoin: live order book, 4 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, 14 min ago	2.29 bp	8.3 bp −$8	70.0 bp −$700	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.14 bp	17.3 bp −$17	41.4 bp −$414	113.0 bp −$11.3K	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	−0.234%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3651	−0.295%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3816	+0.083%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3747	−0.075%	$545K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3659	−0.277%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.413%	$578	$302K	12x	as long as short
Popdex NEARUSDTlong	+0.0096%	1h	4.3780	long leg	$115K	$484K	50x
Pacifica NEAR	+0.0100%	1h	4.3876	+0.218%	$414K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3651	−0.295%	$265.0M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3716	−0.146%	$221.0M	$416.8M	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	4.3700	−0.183%	$62.3M	$288.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.281%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3722	−0.132%	$31.5M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3730	−0.114%	$75.5M	$139.8M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.3700	−0.183%	$54.5M	$44.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3710	−0.160%	$71.8M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3740	−0.091%	—	$144.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.334%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3800	+0.047%	$268K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3770	−0.023%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3790	+0.023%	$195K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3788	+0.018%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3685	−0.217%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3700	−0.183%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3675	−0.240%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3800	+0.046%	$458K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3690	−0.206%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3858	+0.179%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3658	−0.278%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3691	−0.203%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0198%	8h	4.3711	−0.158%	$3.0M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0231%	1h	4.3689	−0.208%	$1.9M	$4.3M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3643	−0.312%	$257K	—	100x	as long as short
Nado NEAR-PERP	+0.0378%	1h	4.3730	−0.114%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3787	+0.016%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3850	+0.160%	$209K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0670%	1h	4.3717	−0.144%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0705%	1h	4.3690	−0.205%	$8.1M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0752%	1h	4.3700	−0.183%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0786%	1h	4.3776	−0.009%	$368.8M	$304.5M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3944	+0.375%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3824	+0.099%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.1040%	1h	4.3733	−0.108%	$17.5M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1702%	1h	4.3779	−0.002%	$6K	$12K	10x	as long as short