Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.014%

Price spread now: Coinbase International against Kalshi−0.100%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.638%+$64 · spread now −0.100%, 7d avg +0.011%

Together, before fees+0.617%+$62 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.110% cheaper against Kalshi than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.4196	0	get 0.0000% / 8h	15m 49s	$610K	$22.2M	2.2x
Short	Coinbase International NEAR-PERP-INTX	4.4152	−0.0008	pay 0.0001% / 1h	15m 49s	$2.3M	$15.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$1.68
Price spread: −0.100% → +0.011%: −$11.01
Slippage, 4 orders: −$27.73
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$60.41
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	7.56 bp	12.6 bp −$13	21.9 bp −$219	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.29 bp	10.3 bp −$10	20.1 bp −$201	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	4.4135	−0.137%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXshort	−0.0008%	1h	4.4152	−0.100%	$2.3M	$15.5M	50x
dYdX NEAR-USD	0.0000%	1h	4.4104	−0.208%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.4196	long leg	$610K	$22.2M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	−0.107%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.304%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4180	−0.036%	$113K	$519K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4133	−0.142%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4169	−0.062%	$271.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4110	−0.195%	$222.0M	$424.8M	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	4.4120	−0.172%	$62.9M	$299.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4098	−0.221%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4097	−0.224%	$32.1M	$64.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4150	−0.104%	$74.7M	$150.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4150	−0.104%	$54.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4082	−0.258%	$72.4M	$130.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4110	−0.195%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4137	−0.133%	$8.6M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4247	+0.116%	$265K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4281	+0.192%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4180	−0.036%	$170K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4192	−0.009%	$245K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4172	−0.054%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	+0.303%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4260	+0.145%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4190	−0.014%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4187	−0.020%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4185	−0.025%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0166%	1h	4.4150	−0.104%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4290	+0.213%	$13.8M	$33.0M	75x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.4140	−0.127%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4143	−0.120%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0327%	1h	4.4171	−0.057%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4221	+0.057%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0356%	1h	4.4161	−0.079%	$364.3M	$324.7M	10x	as long as short
Extended NEAR-USD	+0.0408%	1h	4.4082	−0.258%	$4.0M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0544%	1h	4.4155	−0.093%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4230	+0.077%	$219K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0588%	1h	4.4169	−0.060%	$8.1M	$39.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0634%	1h	4.4168	−0.063%	$2.0M	$7.3M	25x	as long as short
Lighter RH NEAR	+0.0656%	1h	4.4171	−0.057%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4289	+0.210%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4228	+0.073%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.4218	+0.050%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1577%	1h	4.4192	−0.008%	$5K	$12K	10x	as long as short