Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0177%/8h= −19.3% APRpaid last 24h +0.030%

Price spread now: Polymarket Perps against Kalshi+0.537%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs+$13as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 7 days−0.666%−$67 · spread now +0.537%, 7d avg +0.014%

Together, before fees−0.485%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.523% dearer against Kalshi than usual: you sell high and buy low (spread +0.537% now, against its 7-day average of +0.014%): +$52 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 9.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.181%, 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	4.3354	0.0277	pay 0.0277% / 8h	7h 20m	$873K	$23.5M	2.2x
Short	Polymarket Perps NEAR-USD	4.3587	0.0100	get 0.0013% / 1h	20m 30s	$277K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.537%Rate

Funding earned: −$37.1
Price spread: +0.537% → +0.014%: $52.31
Slippage, 4 orders: −$21.01
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.8
Costs to cover: 0.390%
Break-even: from the start

Slippage from Kalshi: live order book, 3 min ago; Polymarket Perps: 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 Kalshi live order book, 3 min ago	7.15 bp	12.2 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.31 bp	8.2 bp −$8	13.4 bp −$134	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	4.3560	+0.474%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3462	+0.250%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3519	+0.380%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.484%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3431	+0.178%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3560	+0.475%	$110K	$503K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3580	+0.521%	$266.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3530	+0.406%	$215.3M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3560	+0.475%	$61.5M	$291.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.239%	$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	4.3503	+0.344%	$32.1M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3550	+0.452%	$74.1M	$146.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3590	+0.544%	$54.0M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3541	+0.431%	$71.8M	$127.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3530	+0.406%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3327	−0.061%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3292	−0.144%	$253K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.337%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3280	−0.171%	$166K	$796K	50x	as long as short
Polymarket Perps NEAR-USDshort	+0.0100%	1h	4.3587	+0.537%	$277K	$3.9M	10x
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3365	+0.025%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3440	+0.198%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3520	+0.383%	$472K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3380	+0.060%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3504	+0.345%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3328	−0.061%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.129%	$13.4M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3459	+0.242%	$408K	$1.3M	10x	as long as short
Kalshi KXNEARPERPlong	+0.0277%	8h	4.3354	long leg	$873K	$23.5M	2.2x
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0198%	1h	4.3512	+0.365%	$235K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.3549	+0.450%	$2.9M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0362%	1h	4.3335	−0.044%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0512%	1h	4.3541	+0.431%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0574%	1h	4.3382	+0.065%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0574%	1h	4.3540	+0.429%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0598%	1h	4.3609	+0.587%	$357.1M	$314.3M	10x	as long as short
Extended NEAR-USD	+0.0616%	1h	4.3504	+0.345%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3540	+0.429%	$214K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3338	−0.037%	$7.6M	$39.3M	50x	as long as short
Lighter RH NEAR	+0.0896%	1h	4.3461	+0.247%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3290	−0.148%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1096%	1h	4.3495	+0.324%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3545	+0.440%	$688K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1204%	1h	4.3390	+0.083%	$1.9M	$9.5M	25x	as long as short
Aftermath Perps NEARUSD	+0.1543%	1h	4.3445	+0.209%	$5K	$13K	10x	as long as short