Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.243%

Price spread now: Arcus against Kalshi+0.023%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Kalshi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.419%+$42 on $10k

Price spread, last 7 days−0.178%−$18 · spread now +0.023%, 7d avg +0.018%

Together, before fees+0.240%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.2750	0	get 0.0000% / 8h	5h 07m	$477K	$18.2M	2.2x
Short	Arcus NEAR-USD	4.2760	0.0100	get 0.0013% / 1h	7m 46s	$200K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.023%Rate

Funding earned: $21
Price spread: +0.023% → +0.018%: $0.55
Slippage, 4 orders: −$23.17
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$16.12
Costs to cover: 0.377%
Break-even: 12.4 days

Slippage from Kalshi: live order book, 1 min ago; Arcus: live order book, 1 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, 1 min ago	5.61 bp	10.6 bp −$11	21.0 bp −$210	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	3.51 bp	5.8 bp −$6	10.3 bp −$103	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	4.2774	+0.057%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2705	−0.105%	$2.2M	$13.1M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−3.135%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2631	−0.277%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.2750	long leg	$477K	$18.2M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2700	−0.117%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0047%	1h	4.2695	−0.129%	$7.7M	$36.2M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	−0.023%	$105K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2796	+0.107%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2707	−0.101%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2811	+0.142%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2640	−0.257%	$246.3M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2595	−0.363%	$218.6M	$420.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2600	−0.351%	$59.7M	$281.3M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.2760	+0.023%	$200K	$1.8M	10x
Bulk NEAR-USD	+0.0100%	1h	4.2317	−1.013%	$241K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2678	−0.168%	$30.0M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2680	−0.164%	$82.9M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2690	−0.140%	$56.1M	$43.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2603	−0.344%	$70.6M	$125.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2660	−0.211%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2299	−1.054%	$7.9M	$17.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2295	−1.065%	$247K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2168	−1.362%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2150	−1.404%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2800	+0.117%	$230K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2720	−0.070%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	−0.047%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2660	−0.211%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2690	−0.140%	$3.9M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2641	−0.255%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2682	−0.159%	$206K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0136%	1h	4.2809	+0.138%	$13K	$7K	10x	as long as short
Lighter RH NEAR	+0.0160%	1h	4.2672	−0.182%	$1.5M	$7.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2660	−0.211%	$12.6M	$32.3M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0312%	1h	4.2715	−0.082%	$1.9M	$2.3M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2785	+0.081%	$412K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0390% / S −0.0335%	1h	4.2706	−0.104%	$292K	—	100x	as long as short
Nado NEAR-PERP	+0.0467%	1h	4.2794	+0.104%	$1.9M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2316	−1.015%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0552%	1h	4.2714	−0.084%	$1.3M	$5.5M	20x	as long as short
Hyperliquid NEAR	+0.0603%	1h	4.2717	−0.077%	$366.9M	$295.0M	10x	as long as short
HTX NEAR-USDT	+0.0930%	8h	4.2740	−0.023%	$462K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0980%	1h	4.2366	−0.898%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.0992%	1h	4.2754	+0.009%	$16.4M	$23.8M	15x	as long as short