Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi−0.219%7-day average +0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.209%+$21 on $10k

Price spread, last 4 days (all we have)+0.631%+$63 · spread now −0.219%, 7d avg +0.099%

Together, before fees+0.840%+$84 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.318% cheaper against Kalshi than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.099%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.209%, 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	Kalshi KXNEARPERP	4.3465	0.0288	pay 0.0288% / 8h	7h 18m	$876K	$23.5M	2.2x
Short	ApeX Omni NEARUSDT	4.3370	0.0100	get 0.0013% / 1h	18m 48s	$167K	$795K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now −0.219%Rate

Funding earned: −$39.56
Price spread: −0.219% → +0.099%: −$31.75
Slippage, 4 orders: −$36.39
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$127.7
Costs to cover: 0.564%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; ApeX Omni: live order book, 35 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 Kalshi live order book, 5 min ago	7.15 bp	12.2 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 35 min ago	5.74 bp	13.6 bp −$14	93.9 bp −$939	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	4.3399	−0.151%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3486	+0.048%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3372	−0.214%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.728%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3486	+0.048%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3430	−0.081%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3429	−0.082%	$265.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3380	−0.196%	$214.5M	$426.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3380	−0.196%	$61.4M	$289.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.494%	$246K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3370	−0.219%	$32.1M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3430	−0.081%	$73.9M	$146.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3410	−0.127%	$53.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3399	−0.152%	$71.6M	$127.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3390	−0.173%	—	$145.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3327	−0.317%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3370	−0.218%	$253K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3370	−0.219%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDTshort	+0.0100%	1h	4.3370	−0.219%	$167K	$795K	50x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3454	−0.025%	$275K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3406	−0.136%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3480	+0.035%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3560	+0.219%	$472K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3430	−0.081%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3445	−0.045%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3404	−0.141%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3430	−0.081%	$13.5M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3503	+0.087%	$402K	$1.3M	10x	as long as short
Kalshi KXNEARPERPlong	+0.0288%	8h	4.3465	long leg	$876K	$23.5M	2.2x
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0198%	1h	4.3364	−0.233%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3420	−0.104%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0354%	1h	4.3385	−0.184%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0512%	1h	4.3517	+0.120%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0570%	1h	4.3417	−0.111%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0583%	1h	4.3414	−0.117%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0587%	1h	4.3452	−0.031%	$355.8M	$314.3M	10x	as long as short
Extended NEAR-USD	+0.0600%	1h	4.3364	−0.232%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3500	+0.081%	$214K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0649%	1h	4.3400	−0.150%	$1.9M	$9.5M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0710%	1h	4.3408	−0.132%	$7.6M	$39.0M	50x	as long as short
Lighter RH NEAR	+0.0896%	1h	4.3464	−0.002%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3290	−0.403%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1104%	1h	4.3464	−0.002%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3502	+0.084%	$687K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1548%	1h	4.3466	+0.002%	$5K	$13K	10x	as long as short