Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.015%

Price spread now: Kalshi against Coinbase International+0.406%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−1.540%−$154 · spread now +0.406%, 7d avg −0.012%

Together, before fees−1.520%−$152 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kalshi is 0.417% dearer against Coinbase International than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.4860	−0.0016	get 0.0002% / 1h	6m 43s	$2.2M	$15.5M	50x
Short	Kalshi KXNEARPERP	4.5042	0	get 0.0000% / 8h	1h 06m	$538K	$21.5M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.406%Rate

Funding earned: $3.36
Price spread: +0.406% → −0.012%: $41.75
Slippage, 4 orders: −$30.68
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$5.57
Costs to cover: 0.507%
Break-even: 18.6 days

Slippage from Coinbase International: live order book, 2 min ago; Kalshi: live order book, 2 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 Coinbase International live order book, 2 min ago	6.85 bp	15.0 bp −$15	23.8 bp −$238	457.9 bp −$45.8K	doesn't fit
Sell Kalshi live order book, 2 min ago	4.41 bp	14.2 bp −$14	19.9 bp −$199	doesn't fit	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	4.4874	+0.032%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXlong	−0.0016%	1h	4.4860	long leg	$2.2M	$15.5M	50x
dYdX NEAR-USD	0.0000%	1h	4.4569	−0.650%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.5042	+0.406%	$538K	$21.5M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4959	+0.220%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.691%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4620	−0.535%	$112K	$513K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4641	−0.488%	$426K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4645	−0.479%	$274.0M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4627	−0.519%	$224.2M	$426.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4630	−0.513%	$64.0M	$304.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5467	+1.352%	$259K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4606	−0.566%	$32.4M	$65.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4670	−0.424%	$78.6M	$149.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4660	−0.446%	$55.2M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4637	−0.497%	$73.5M	$130.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4660	−0.446%	—	$146.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.5696	+1.864%	$8.8M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5326	+1.039%	$272K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5311	+1.005%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5320	+1.025%	$174K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4862	+0.004%	$222K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4923	+0.140%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4980	+0.267%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4900	+0.089%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4920	+0.134%	$464K	$4.1M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4890	+0.067%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4630	−0.513%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4945	+0.189%	$209K	$40K	3x	as long as short
Extended NEAR-USD	+0.0184%	1h	4.4636	−0.499%	$4.1M	$19.4M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4890	+0.067%	$14.2M	$33.7M	75x	as long as short
Aster NEARUSDT	+0.0295%	8h	4.4773	−0.193%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0358% / S −0.0247%	1h	4.4925	+0.145%	$270K	—	100x	as long as short
01 Exchange NEARUSD	+0.0384%	1h	4.4703	−0.350%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4730	−0.290%	$216K	$1.8M	10x	as long as short
Nado NEAR-PERP	+0.0433%	1h	4.4850	−0.022%	$1.9M	$3.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0530%	1h	4.4925	+0.145%	$2.0M	$4.5M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0553%	1h	4.4817	−0.096%	$1.4M	$6.7M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0686%	1h	4.4926	+0.146%	$8.3M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0704%	1h	4.4720	−0.312%	$1.6M	$7.2M	10x	as long as short
Hyperliquid NEAR	+0.0787%	1h	4.4735	−0.279%	$373.2M	$323.4M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.5453	+1.322%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4704	−0.348%	$571K	$1.4M	10x	as long as short
Lighter NEAR	+0.1136%	1h	4.4734	−0.281%	$18.0M	$27.0M	15x	as long as short
Aftermath Perps NEARUSD	+0.1601%	1h	4.5331	+1.049%	$6K	$12K	10x	as long as short