Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.072%

Price spread now: OKX against Kraken Futures−0.197%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.197%, 7d avg −0.073%

Together, before fees−0.126%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.124% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.073%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NEARUSD	4.2804	0.0118	pay 0.0015% / 1h	17m 39s	$7.6M	$37.6M	50x
Short	OKX NEAR-USDT-SWAP	4.2720	0.0100	get 0.0100% / 8h	17m 39s	$60.8M	$285.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Kraken Futures. 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 Kraken FuturesbpFee OKXbpOrdersPrice spread, now −0.197%Rate

Funding earned: −$3.87
Price spread: −0.197% → −0.073%: −$12.42
Slippage, 4 orders: −$34.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$70.84
Costs to cover: 0.546%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; OKX: 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 Kraken Futures live order book, 1 min ago	8.64 bp	22.5 bp −$23	29.1 bp −$291	61.1 bp −$6,110	5448.2 bp −$2.72M
Sell OKX live order book, 1 min ago	1.17 bp	10.6 bp −$11	19.8 bp −$198	48.3 bp −$4,832	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	4.2747	−0.134%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2766	−0.089%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2734	−0.165%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2739	−0.152%	$350K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2772	−0.075%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.257%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0054%	8h	4.2701	−0.241%	$217.8M	$422.5M	75x	as long as short
Variational Omni NEAR	+0.0056%	8h	4.2869	+0.152%	$7.9M	$18.5M	—	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.2782	−0.052%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2770	−0.080%	$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	4.2787	−0.040%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2715	−0.208%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2823	+0.044%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2758	−0.107%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2754	−0.118%	$252.8M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.2720	−0.197%	$60.8M	$285.9M	50x
Arcus NEAR-USD	+0.0100%	1h	4.2730	−0.173%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.340%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2759	−0.106%	$30.7M	$60.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	−0.150%	$77.7M	$142.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2740	−0.150%	$55.8M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2715	−0.209%	$70.9M	$126.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2760	−0.103%	—	$140.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2658	−0.342%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2722	−0.193%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2690	−0.267%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2784	−0.047%	$202K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2810	+0.013%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2769	−0.082%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2780	−0.057%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2753	−0.119%	$3.9M	$16.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2765	−0.092%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0118%	1h	4.2804	long leg	$7.6M	$37.6M	50x
BloFin NEAR-USDT	+0.0220%	8h	4.2810	+0.013%	$13.0M	$29.4M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0241%	1h	4.2802	−0.005%	$1.9M	$2.5M	25x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.2781	−0.054%	$1.5M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2771	−0.077%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2791	−0.031%	$417K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0455%	1h	4.2823	+0.044%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2939	+0.315%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0677%	1h	4.2736	−0.158%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0707%	1h	4.2812	+0.018%	$366.5M	$299.7M	10x	as long as short
HTX NEAR-USDT	+0.0791%	8h	4.2870	+0.154%	$458K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1152%	1h	4.2827	+0.054%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1656%	1h	4.2861	+0.132%	$16.5M	$23.9M	15x	as long as short