Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.059%

Price spread now: Lighter RH against Kalshi+0.152%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs+$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Kalshi Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.609%+$61 on $10k

Price spread, last 7 days−0.203%−$20 · spread now +0.152%, 7d avg +0.121%

Together, before fees+0.405%+ Points / potential airdropLighter RH: Points live · farm board+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter RH is 0.031% dearer against Kalshi than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.2698	0	get 0.0000% / 8h	4h 15m	$356K	$18.7M	2.2x
Short	Lighter RH NEAR	4.2763	0.0320	get 0.0040% / 1h	15m 06s	$1.5M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.152%Rate

Funding earned: $67.2
Price spread: +0.152% → +0.121%: $3.12
Slippage, 4 orders: −$19.57
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $40.75
Costs to cover: 0.296%
Break-even: 2.8 days

Slippage from Kalshi: live order book, 4 min ago; Lighter RH: 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, 4 min ago	7.13 bp	12.1 bp −$12	17.1 bp −$171	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.63 bp	3.5 bp −$3	11.8 bp −$118	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	4.2652	−0.107%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2618	−0.187%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2761	+0.148%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.2698	long leg	$356K	$18.7M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2703	+0.011%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.017%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0047%	8h	4.2759	+0.142%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0051%	8h	4.2627	−0.166%	$217.2M	$422.7M	75x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.2730	+0.075%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2700	+0.005%	$109K	$495K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2693	−0.012%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2726	+0.066%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2706	+0.018%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2771	+0.170%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2655	−0.100%	$252.6M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2610	−0.206%	$60.6M	$285.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2750	+0.122%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.590%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2669	−0.068%	$30.5M	$60.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2700	+0.005%	$77.7M	$142.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2730	+0.075%	$55.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2653	−0.105%	$70.8M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2660	−0.089%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2754	+0.130%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2783	+0.199%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2750	+0.122%	$179K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2696	−0.005%	$199K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	+0.075%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2704	+0.014%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2680	−0.042%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2658	−0.093%	$3.9M	$16.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2675	−0.054%	$201K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2722	+0.056%	$7.6M	$37.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0125%	1h	4.2702	+0.009%	$1.9M	$2.5M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2680	−0.042%	$13.0M	$29.3M	75x	as long as short
Lighter RH NEARshort	+0.0320%	1h	4.2763	+0.152%	$1.5M	$7.1M	10x
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0314%	1h	4.2698	0.000%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2751	+0.125%	$419K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0452%	1h	4.2716	+0.042%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.454%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0672%	1h	4.2685	−0.030%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0685%	1h	4.2717	+0.044%	$365.1M	$300.2M	10x	as long as short
HTX NEAR-USDT	+0.0782%	8h	4.2820	+0.286%	$459K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1150%	1h	4.2766	+0.160%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1688%	1h	4.2807	+0.254%	$16.6M	$24.1M	15x	as long as short