Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0524%/8h= +57.3% APRpaid last 24h −0.117%

Price spread now: SunX against Kraken Futures+0.191%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1631.627% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.191%, 7d avg +0.111%

Together, before fees−0.290%−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and SunX is 0.080% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.111%. Mind the row above: over the last 7 days funding on this pair cost −0.195%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.195% in total (about -10.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NEARUSD	4.4575	−0.0424	get 0.0053% / 1h	19m 07s	$7.3M	$38.6M	50x
Short	SunX NEAR-USDT	4.4660	0.0100	get 0.0100% / 8h	7h 19m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.191%Rate

Funding earned: $109.97
Price spread: +0.191% → +0.111%: $8.04
Slippage, 4 orders: −$144.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$44.72
Costs to cover: 1.627%
Break-even: 9.8 days

Slippage from Kraken Futures: live order book, 5 min ago; SunX: live order book, 5 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, 5 min ago	6.35 bp	16.2 bp −$16	18.3 bp −$183	54.4 bp −$5,436	6554.8 bp −$3.28M
Sell SunX live order book, 5 min ago	30.56 bp	81.5 bp −$82	doesn't fit	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
Kraken Futures PF_NEARUSDlong	−0.0424%	1h	4.4575	long leg	$7.3M	$38.6M	50x
Phemex NEARUSDT	−0.0258%	8h	4.4580	+0.012%	$3.6M	$7.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4649	+0.166%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4632	+0.128%	$109K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4572	−0.007%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.100%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4690	+0.259%	$118K	$499K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4630	+0.124%	$2.7M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4641	+0.150%	$269.0M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4672	+0.218%	$225.5M	$426.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4650	+0.169%	$62.8M	$300.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4690	+0.259%	$226K	$1.4M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−1.850%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4591	+0.037%	$37.6M	$62.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4600	+0.057%	$90.0M	$160.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4610	+0.079%	$53.3M	$45.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4646	+0.160%	$73.6M	$127.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4600	+0.057%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4199	−0.844%	$9.2M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4233	−0.766%	$256K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4279	−0.663%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4220	−0.796%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4656	+0.182%	$279K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4601	+0.059%	$57K	$238K	20x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.4660	+0.191%	$1K	$1.3M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.4575	+0.001%	$5K	$49K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.4660	+0.192%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4559	−0.034%	$3.7M	$15.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4596	+0.047%	$207K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0136%	8h	4.4653	+0.176%	$898K	$25.3M	2.2x	as long as short
Nado NEAR-PERP	+0.0202%	1h	4.4666	+0.205%	$1.7M	$3.2M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4600	+0.057%	$12.7M	$32.9M	75x	as long as short
Hyperliquid NEAR	+0.0304%	1h	4.4652	+0.173%	$363.4M	$316.6M	10x	as long as short
01 Exchange NEARUSD	+0.0328%	1h	4.4744	+0.380%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0357% / S −0.0259%	1h	4.4572	−0.006%	$261K	—	100x	as long as short
Lighter RH NEAR	+0.0448%	1h	4.4645	+0.158%	$1.6M	$6.5M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4688	+0.254%	$2.3M	$17.5M	50x	as long as short
Lighter NEAR	+0.0488%	1h	4.4630	+0.125%	$17.6M	$24.0M	15x	as long as short
HTX NEAR-USDT	+0.0500%	8h	4.4750	+0.393%	$473K	$3.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0562%	1h	4.4623	+0.108%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4676	+0.227%	$604K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4663	+0.198%	$421K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4334	−0.540%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1028%	1h	4.4240	−0.750%	$6K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1657%	1h	4.4655	+0.180%	$1.9M	$13.1M	25x	as long as short