Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0533%/8h= −58.3% APRpaid last 24h +0.117%

Price spread now: Kraken Futures against Bitget−0.174%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 4 days (all we have)+1.268%+$127 · spread now −0.174%, 7d avg +0.064%

Together, before fees+1.515%+$151 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Kraken Futures is 0.238% cheaper against Bitget than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.064%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.247%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.247% in total (about 12.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NEARUSDT	4.3718	0.0100	pay 0.0100% / 8h	7h 48m	$72.2M	$127.6M	75x
Short	Kraken Futures PF_NEARUSD	4.3642	−0.0433	pay 0.0054% / 1h	48m 51s	$7.2M	$38.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$111.87
Price spread: −0.174% → +0.064%: −$23.76
Slippage, 4 orders: −$33.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$191.42
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Bitget live order book, 5 min ago	0.92 bp	10.2 bp −$10	17.3 bp −$173	33.3 bp −$3,331	doesn't fit
Sell Kraken Futures live order book, 5 min ago	8.70 bp	19.5 bp −$19	22.2 bp −$222	54.8 bp −$5,477	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
Kraken Futures PF_NEARUSDshort	−0.0433%	1h	4.3642	−0.174%	$7.2M	$38.6M	50x
Reya NEARRUSDPERP	−0.0171%	1h	4.3615	−0.236%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3653	−0.150%	$107K	$67K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3670	−0.110%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.279%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3670	−0.110%	$119K	$503K	50x	as long as short
Hyperliquid NEAR	+0.0100%	1h	4.3692	−0.059%	$351.9M	$316.8M	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3730	+0.027%	$2.7M	$4.8M	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3721	+0.007%	$220.6M	$428.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3700	−0.041%	$61.7M	$296.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.3720	+0.005%	$229K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3688	−0.069%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3721	+0.007%	$36.3M	$61.7M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3750	+0.073%	$52.9M	$45.7M	75x	as long as short
Bitget NEARUSDTlong	+0.0100%	8h	4.3718	long leg	$72.2M	$127.6M	75x
Variational Omni NEAR	+0.0100%	8h	4.3688	−0.069%	$9.0M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3651	−0.153%	$253K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3670	−0.109%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3660	−0.133%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3685	−0.075%	$273K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3690	−0.064%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3720	+0.005%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3645	−0.167%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3680	−0.087%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3583	−0.308%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3717	−0.003%	$3.6M	$16.0M	25x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3673	−0.102%	$203K	$40K	3x	as long as short
Binance NEARUSDT	+0.0122%	8h	4.3740	+0.050%	$264.0M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0126%	8h	4.3730	+0.027%	$90.4M	$153.2M	200x	as long as short
BingX NEAR-USDT	+0.0133%	8h	4.3720	+0.005%	—	$83.2M	—	as long as short
Kalshi KXNEARPERP	+0.0153%	8h	4.3671	−0.108%	$892K	$25.2M	2.2x	as long as short
BloFin NEAR-USDT	+0.0242%	8h	4.3640	−0.178%	$12.5M	$32.2M	75x	as long as short
01 Exchange NEARUSD	+0.0264%	1h	4.3709	−0.021%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0329%	1h	4.3675	−0.098%	$1.7M	$3.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0346% / S −0.0248%	1h	4.3665	−0.121%	$255K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.3708	−0.023%	$1.5M	$6.4M	10x	as long as short
HTX NEAR-USDT	+0.0388%	8h	4.3790	+0.165%	$463K	$3.8M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3744	+0.059%	$2.3M	$17.1M	50x	as long as short
Lighter NEAR	+0.0544%	1h	4.3715	−0.007%	$17.2M	$23.8M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0551%	1h	4.3736	+0.041%	$1.1M	$7.2M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3699	−0.044%	$592K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3596	−0.278%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3729	+0.025%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0826%	1h	4.3722	+0.009%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1086%	1h	4.3667	−0.117%	$5K	$7K	10x	as long as short