Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0529%/8h= −57.9% APRpaid last 24h +0.117%

Price spread now: Kraken Futures against Gate−0.055%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 4 days (all we have)+1.094%+$109 · spread now −0.055%, 7d avg +0.067%

Together, before fees+1.312%+$131 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 0.123% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.217%, 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 0.217% in total (about 11.3% 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	Gate NEAR_USDT	4.4067	0.0100	pay 0.0100% / 8h	7h 45m	$36.7M	$61.9M	75x
Short	Kraken Futures PF_NEARUSD	4.4043	−0.0429	pay 0.0054% / 1h	45m 00s	$7.3M	$38.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$111.04
Price spread: −0.055% → +0.067%: −$12.25
Slippage, 4 orders: −$36.92
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$185.21
Costs to cover: 0.619%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: 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 Gate live order book, 4 min ago	1.60 bp	16.3 bp −$16	20.0 bp −$200	33.6 bp −$3,357	50.2 bp −$25.1K
Sell Kraken Futures live order book, 4 min ago	7.43 bp	17.5 bp −$18	20.6 bp −$206	55.0 bp −$5,497	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
Phemex NEARUSDT	−0.0787%	8h	4.4050	−0.039%	$3.6M	$8.2M	50x	as long as short
Kraken Futures PF_NEARUSDshort	−0.0429%	1h	4.4043	−0.055%	$7.3M	$38.7M	50x
Reya NEARRUSDPERP	−0.0171%	1h	4.4054	−0.030%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4063	−0.010%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4003	−0.146%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.029%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4060	−0.016%	$119K	$509K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4090	+0.052%	$2.8M	$4.8M	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4086	+0.043%	$224.4M	$430.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4070	+0.007%	$62.1M	$299.8M	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	4.4070	+0.007%	$222K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−0.719%	$252K	$3K	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.4067	long leg	$36.7M	$61.9M	75x
KuCoin NEARUSDTM	+0.0100%	8h	4.4090	+0.052%	$53.0M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4064	−0.007%	$72.7M	$128.3M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4208	+0.319%	$9.1M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3658	−0.928%	$253K	$895K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3670	−0.901%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4050	−0.039%	$168K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4040	−0.061%	$275K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4066	−0.002%	$59K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4080	+0.030%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4055	−0.027%	$5K	$50K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.4029	−0.086%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4063	−0.008%	$3.7M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4055	−0.027%	$205K	$40K	3x	as long as short
MEXC NEAR_USDT	+0.0121%	8h	4.4090	+0.052%	$92.6M	$155.2M	200x	as long as short
Binance NEARUSDT	+0.0122%	8h	4.4078	+0.025%	$265.7M	$1.09B	75x	as long as short
BingX NEAR-USDC	+0.0132%	8h	4.4080	+0.030%	—	$6.7M	—	as long as short
Kalshi KXNEARPERP	+0.0151%	8h	4.4137	+0.159%	$880K	$25.4M	2.2x	as long as short
Hyperliquid NEAR	+0.0169%	1h	4.4082	+0.034%	$356.2M	$318.5M	10x	as long as short
BloFin NEAR-USDT	+0.0242%	8h	4.4110	+0.098%	$12.7M	$32.7M	75x	as long as short
Nado NEAR-PERP	+0.0251%	1h	4.4074	+0.016%	$1.7M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0296%	1h	4.4088	+0.048%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0350% / S −0.0252%	1h	4.4018	−0.111%	$258K	—	100x	as long as short
Lighter RH NEAR	+0.0432%	1h	4.4115	+0.109%	$1.5M	$6.4M	10x	as long as short
HTX NEAR-USDT	+0.0444%	8h	4.4180	+0.256%	$467K	$3.8M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4150	+0.188%	$2.3M	$17.3M	50x	as long as short
Lighter NEAR	+0.0496%	1h	4.4115	+0.109%	$17.4M	$23.8M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0596%	1h	4.4071	+0.009%	$1.1M	$7.2M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0613%	1h	4.4082	+0.034%	$1.9M	$13.1M	25x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4055	−0.028%	$601K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4141	+0.167%	$416K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4222	+0.352%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1055%	1h	4.3884	−0.415%	$5K	$7K	10x	as long as short