Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h +0.033%

Price spread now: KuCoin against Coinbase International+0.779%51s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.614% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 4 days (all we have)−1.000%−$100 · spread now +0.779%, 7d avg +0.050%

Together, before fees−0.811%−$81 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.729% dearer against Coinbase International than usual: you sell high and buy low (spread +0.779% now, against its 7-day average of +0.050%): +$73 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 7.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.189%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.189% in total (about 9.9% 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	Coinbase International NEAR-PERP-INTX	4.4543	0.0424	pay 0.0053% / 1h	50m 29s	$2.3M	$16.4M	50x
Short	KuCoin NEARUSDTM	4.4890	0.0100	get 0.0100% / 8h	1h 50m	$54.0M	$45.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.779%Rate

Funding earned: −$68.04
Price spread: +0.779% → +0.050%: $72.9
Slippage, 4 orders: −$39.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$56.53
Costs to cover: 0.614%
Break-even: from the start

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 9 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, 4 min ago	3.60 bp	13.2 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	2.25 bp	19.2 bp −$19	35.2 bp −$352	101.4 bp −$10.1K	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	4.4850	+0.689%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4633	+0.202%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4838	+0.662%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.034%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4880	+0.757%	$115K	$495K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4866	+0.725%	$229.5M	$426.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4850	+0.689%	$62.8M	$299.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.397%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4643	+0.225%	$34.7M	$59.8M	75x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4890	+0.779%	$54.0M	$45.8M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4845	+0.678%	$74.2M	$126.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4568	+0.055%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4503	−0.089%	$260K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4883	+0.763%	$281K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4565	+0.049%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4580	+0.083%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4680	+0.308%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4600	+0.128%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4645	+0.228%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4474	−0.154%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4584	+0.092%	$207K	$40K	3x	as long as short
ApeX Omni NEARUSDT	+0.0132%	1h	4.4470	−0.164%	$168K	$803K	50x	as long as short
BingX NEAR-USDC	+0.0154%	8h	4.4890	+0.779%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0169%	8h	4.4900	+0.801%	$85.7M	$144.4M	200x	as long as short
Binance NEARUSDT	+0.0170%	8h	4.4796	+0.568%	$271.3M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0288%	1h	4.4562	+0.043%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0290%	8h	4.4590	+0.106%	$13.6M	$32.9M	75x	as long as short
Kalshi KXNEARPERP	+0.0303%	8h	4.4427	−0.260%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0201%	1h	4.4837	+0.659%	$239K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4783	+0.539%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4648	+0.236%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTXlong	+0.0424%	1h	4.4543	long leg	$2.3M	$16.4M	50x
01 Exchange NEARUSD	+0.0520%	1h	4.4759	+0.485%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0533%	1h	4.4465	−0.175%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0575%	1h	4.4664	+0.272%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0655%	1h	4.4561	+0.041%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0756%	1h	4.4901	+0.804%	$369.4M	$307.1M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4730	+0.420%	$227K	$1.6M	10x	as long as short
Lighter NEAR	+0.0920%	1h	4.4693	+0.337%	$17.5M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	−0.121%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1056%	1h	4.4708	+0.370%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4649	+0.237%	$410K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1191%	1h	4.4447	−0.215%	$6K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1232%	1h	4.4587	+0.099%	$1.9M	$12.2M	25x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4713	+0.381%	$682K	$1.4M	10x	as long as short