Funding arb · Price arb /

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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 +0.030%

Price spread now: SoDEX against Kalshi−0.019%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	4.1898	0	get 0.0000% / 8h	5h 23m	$431K	$18.5M	2.2x
Short	SoDEX NEAR-USD	4.1890	0.0100	get 0.0013% / 1h	23m 56s	$5K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $21
Price spread: −0.019% → 0.000%: −$1.91
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $1.09
Costs to cover: 0.180%
Break-even: 6.6 days

Slippage unknown: Kalshi: live order book, 5 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 5 min ago	8.15 bp	13.1 bp −$13	19.8 bp −$198	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.1864	−0.081%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1895	−0.007%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.165%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1881	−0.041%	$109K	$58K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.1898	long leg	$431K	$18.5M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1894	−0.010%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1921	+0.055%	$7.7M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1948	+0.119%	$1.5M	$7.0M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1880	−0.043%	$112K	$483K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1868	−0.072%	$30K	$647	10x	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	4.1940	+0.100%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1884	−0.032%	$362K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1892	−0.015%	$240.0M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1920	+0.053%	$213.9M	$423.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1900	+0.005%	$57.8M	$277.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1880	−0.043%	$241K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1888	−0.024%	$30.0M	$57.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1890	−0.019%	$83.0M	$142.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1930	+0.076%	$55.2M	$44.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1914	+0.038%	$69.4M	$125.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1870	−0.067%	—	$136.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1690	−0.497%	$7.7M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1652	−0.586%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1653	−0.584%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1670	−0.544%	$174K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1913	+0.036%	$205K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1885	−0.031%	$53K	$158K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1950	+0.124%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USDshort	+0.0100%	1h	4.1890	−0.019%	$5K	$46K	10x
Phemex NEARUSDT	+0.0100%	8h	4.1880	−0.043%	$3.9M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.711%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1902	+0.009%	$3.9M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1885	−0.031%	$202K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0112%	1h	4.1906	+0.019%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1800	−0.234%	$12.4M	$31.3M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0299%	1h	4.1931	+0.079%	$1.9M	$2.2M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1901	+0.008%	$412K	$1.2M	10x	as long as short
Hyperliquid NEAR	+0.0374%	1h	4.1937	+0.092%	$353.9M	$292.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0327%	1h	4.1890	−0.020%	$282K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.1933	+0.084%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0531%	1h	4.1849	−0.116%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1813	−0.203%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0696%	1h	4.1989	+0.216%	$16.0M	$23.3M	15x	as long as short
HTX NEAR-USDT	+0.0960%	8h	4.2020	+0.291%	$450K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0962%	1h	4.1794	−0.247%	$5K	$11K	10x	as long as short