Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.029%

Price spread now: Kalshi against Extended+0.565%54s7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as 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−$330.330% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.477%−$48 · spread now +0.565%, 7d avg +0.065%

Together, before fees−0.667%+ Points / potential airdropExtended: Active · farm board−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.500% dearer against Extended than usual: you sell high and buy low (spread +0.565% now, against its 7-day average of +0.065%): +$50 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8.3 days. At the pace of the last 7 days (−0.189% in total) that is about 18 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended NEAR-USD	4.4424	0.0200	pay 0.0025% / 1h	5m 22s	$4.0M	$19.4M	25x
Short	Kalshi KXNEARPERP	4.4675	0	get 0.0000% / 8h	1h 05m	$561K	$21.5M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.565%Rate

Funding earned: −$42
Price spread: +0.565% → +0.065%: $50.05
Slippage, 4 orders: −$18.02
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$24.97
Costs to cover: 0.330%
Break-even: from the start

Slippage from Extended: live order book, 4 min ago; Kalshi: 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 Extended live order book, 4 min ago	0.44 bp	4.4 bp −$4	9.4 bp −$94	734.7 bp −$73.5K	doesn't fit
Sell Kalshi live order book, 4 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	4.4413	−0.025%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4511	+0.196%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4480	+0.126%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4675	+0.565%	$561K	$21.5M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4439	+0.033%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.784%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4500	+0.171%	$113K	$513K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4503	+0.178%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4481	+0.129%	$273.0M	$1.12B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4440	+0.036%	$222.8M	$428.8M	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	4.4420	−0.009%	$63.5M	$304.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5467	+2.347%	$259K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4433	+0.020%	$32.3M	$65.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4450	+0.059%	$76.3M	$149.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4450	+0.059%	$55.0M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4425	+0.002%	$73.2M	$130.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4440	+0.036%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4486	+0.140%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4994	+1.284%	$270K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5311	+1.997%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5320	+2.017%	$174K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4499	+0.169%	$257K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4448	+0.054%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4530	+0.239%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4502	+0.176%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4550	+0.284%	$460K	$4.1M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4540	+0.261%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4433	+0.021%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4465	+0.092%	$207K	$40K	3x	as long as short
Extended NEAR-USDlong	+0.0200%	1h	4.4424	long leg	$4.0M	$19.4M	25x
BloFin NEAR-USDT	+0.0220%	8h	4.4890	+1.049%	$14.2M	$33.7M	75x	as long as short
Aster NEARUSDT	+0.0284%	8h	4.4480	+0.126%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0235%	1h	4.4423	−0.001%	$266K	—	100x	as long as short
01 Exchange NEARUSD	+0.0384%	1h	4.4512	+0.198%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0403%	1h	4.4459	+0.079%	$1.9M	$4.5M	25x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4560	+0.306%	$215K	$1.8M	10x	as long as short
Nado NEAR-PERP	+0.0480%	1h	4.4450	+0.059%	$1.9M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0540%	1h	4.4633	+0.471%	$1.4M	$6.8M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0691%	1h	4.4572	+0.333%	$8.3M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.4507	+0.187%	$1.6M	$7.2M	10x	as long as short
Hyperliquid NEAR	+0.0771%	1h	4.4465	+0.092%	$369.7M	$325.5M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.5453	+2.317%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4543	+0.267%	$570K	$1.4M	10x	as long as short
Lighter NEAR	+0.1120%	1h	4.4535	+0.251%	$17.9M	$27.1M	15x	as long as short
Aftermath Perps NEARUSD	+0.1651%	1h	4.5085	+1.488%	$6K	$12K	10x	as long as short