Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h +0.122%

Price spread now: Kraken Futures against Bybit+0.093%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$25 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.093%, 7d avg +0.071%

Together, before fees+0.308%+$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.021% dearer against Bybit than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of +0.071%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.255%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.3631	0.0100	pay 0.0100% / 8h	18m 05s	$220.3M	$428.8M	75x
Short	Kraken Futures PF_NEARUSD	4.3671	0.0017	get 0.0002% / 1h	18m 05s	$7.2M	$38.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$17.53
Price spread: +0.093% → +0.071%: $2.14
Slippage, 4 orders: −$21.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$57.98
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Bybit live order book, 1 min ago	1.15 bp	10.1 bp −$10	14.5 bp −$145	33.0 bp −$3,301	140.7 bp −$70.3K
Sell Kraken Futures live order book, 1 min ago	5.96 bp	13.3 bp −$13	25.4 bp −$254	54.8 bp −$5,483	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
Reya NEARRUSDPERP	−0.0171%	1h	4.3644	+0.031%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3624	−0.017%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3688	+0.129%	$164K	—	150x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0017%	1h	4.3671	+0.093%	$7.2M	$38.4M	50x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.090%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3680	+0.112%	$114K	$498K	50x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.3631	long leg	$220.3M	$428.8M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3620	−0.025%	$61.3M	$295.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.070%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3651	+0.046%	$35.7M	$62.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3700	+0.158%	$52.9M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3634	+0.007%	$72.2M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.260%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3412	−0.502%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3550	−0.186%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	−0.461%	$166K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3697	+0.151%	$279K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3709	+0.179%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3740	+0.250%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3690	+0.135%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3670	+0.089%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3660	+0.065%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3623	−0.019%	$3.6M	$16.8M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3705	+0.170%	$203K	$38K	3x	as long as short
HTX NEAR-USDT	+0.0149%	8h	4.3820	+0.433%	$466K	$3.8M	75x	as long as short
Aster NEARUSDT	+0.0150%	8h	4.3652	+0.047%	$2.7M	$4.9M	50x	as long as short
Hyperliquid NEAR	+0.0152%	1h	4.3693	+0.143%	$352.2M	$315.9M	10x	as long as short
MEXC NEAR_USDT	+0.0171%	8h	4.3690	+0.135%	$89.2M	$152.8M	200x	as long as short
Binance NEARUSDT	+0.0172%	8h	4.3667	+0.082%	$264.1M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0178%	8h	4.3675	+0.101%	$964K	$25.0M	2.2x	as long as short
BingX NEAR-USDT	+0.0180%	8h	4.3660	+0.066%	—	$144.1M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3704	+0.167%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0292%	8h	4.3570	−0.140%	$13.3M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0207%	1h	4.3689	+0.132%	$236K	—	100x	as long as short
Nado NEAR-PERP	+0.0379%	1h	4.3645	+0.032%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0461%	1h	4.3702	+0.163%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3698	+0.154%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0536%	1h	4.3723	+0.211%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.3714	+0.189%	$17.2M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3690	+0.135%	$230K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0849%	1h	4.3735	+0.238%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3663	+0.074%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3607	−0.055%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3691	+0.138%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1118%	1h	4.3479	−0.349%	$5K	$7K	10x	as long as short