Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0509%/8h= +55.7% APRpaid last 24h +0.163%

Price spread now: RISEx against Kalshi−0.092%7-day average +0.023% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.483%+$48 on $10k

Price spread, last 7 days−0.010%−$1 · spread now −0.092%, 7d avg +0.023%

Together, before fees+0.473%+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.115% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.023%). If the spread goes back, that is −$12 on $10k: about 18 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.3241	0	get 0.0000% / 8h	2h 58m	$392K	$18.8M	2.2x
Short	RISEx NEAR/USDC	4.3201	0.0509	get 0.0064% / 1h	58m 04s	$429K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.092%Rate

Funding earned: $106.83
Price spread: −0.092% → +0.023%: −$11.54
Slippage, 4 orders: −$22.36
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $56.93
Costs to cover: 0.384%
Break-even: 3.3 days

Slippage from Kalshi: live order book, 1 min ago; RISEx: 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	8.81 bp	13.8 bp −$14	20.6 bp −$206	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	2.37 bp	5.4 bp −$5	13.7 bp −$137	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	4.3198	−0.099%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3185	−0.130%	$2.2M	$13.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3090	−0.350%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.3241	long leg	$392K	$18.8M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3165	−0.176%	$157K	—	150x	as long as short
Variational Omni NEAR	+0.0016%	8h	4.2957	−0.656%	$8.2M	$18.8M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.234%	$578	$302K	12x	as long as short
Phemex NEARUSDT	+0.0069%	8h	4.3180	−0.141%	$3.8M	$8.3M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3210	−0.072%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3189	−0.120%	$57K	$162K	20x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.3229	−0.029%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3118	−0.284%	$406K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3185	−0.130%	$257.9M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3169	−0.167%	$219.8M	$416.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3140	−0.234%	$60.8M	$277.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3200	−0.095%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3243	+0.004%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3176	−0.150%	$30.9M	$59.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3180	−0.141%	$75.5M	$135.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3190	−0.118%	$55.7M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3147	−0.217%	$71.4M	$122.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3180	−0.141%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3202	−0.090%	$257K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2940	−0.696%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3200	−0.095%	$177K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3228	−0.030%	$209K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3260	+0.044%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3165	−0.176%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	−0.095%	$451K	$3.7M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3136	−0.244%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3121	−0.278%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3170	−0.164%	$201K	$31K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3211	−0.069%	$7.9M	$37.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.044%	$13.2M	$27.7M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0283%	1h	4.3185	−0.130%	$1.9M	$4.0M	25x	as long as short
01 Exchange NEARUSD	+0.0304%	1h	4.3217	−0.056%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0348%	1h	4.3220	−0.049%	$1.9M	$3.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0308%	1h	4.3158	−0.191%	$276K	—	100x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.3238	−0.007%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3191	−0.116%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDCshort	+0.0509%	1h	4.3201	−0.092%	$429K	$1.2M	10x
Hyperliquid NEAR	+0.0914%	1h	4.3236	−0.012%	$366.2M	$302.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0918%	1h	4.3221	−0.046%	$1.3M	$5.9M	20x	as long as short
Lighter NEAR	+0.1312%	1h	4.3275	+0.079%	$17.3M	$24.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.1489%	1h	4.3224	−0.039%	$5K	$12K	10x	as long as short