Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.015%

Price spread now: Extended against KuCoin−0.539%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 7 days+0.568%+$57 · spread now −0.539%, 7d avg −0.075%

Together, before fees+0.600%+ Points / potential airdropExtended: Active · farm board+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.464% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.539% now, against its 7-day average of −0.075%). If the spread goes back, that is −$46 on $10k: about 5.6 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.031% in total) that is about 3 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% 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	KuCoin NEARUSDTM	4.4890	0.0100	pay 0.0100% / 8h	1h 50m	$54.0M	$45.8M	75x
Short	Extended NEAR-USD	4.4648	0.0376	get 0.0047% / 1h	50m 29s	$3.7M	$19.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.539%Rate

Funding earned: $57.96
Price spread: −0.539% → −0.075%: −$46.38
Slippage, 4 orders: −$29.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$34.75
Costs to cover: 0.463%
Break-even: 11.2 days

Slippage from KuCoin: live order book, 9 min ago; Extended: 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 KuCoin live order book, 9 min ago	2.25 bp	16.3 bp −$16	27.0 bp −$270	98.7 bp −$9,874	doesn't fit
Sell Extended live order book, 4 min ago	0.90 bp	6.2 bp −$6	16.5 bp −$165	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	4.4850	−0.089%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4633	−0.573%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4838	−0.117%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.752%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4880	−0.022%	$115K	$495K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4866	−0.053%	$229.5M	$426.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4850	−0.089%	$62.8M	$299.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−1.167%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4643	−0.550%	$34.7M	$59.8M	75x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.4890	long leg	$54.0M	$45.8M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4845	−0.100%	$74.2M	$126.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4568	−0.718%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4503	−0.862%	$260K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4883	−0.016%	$281K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4565	−0.724%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4580	−0.691%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4680	−0.468%	$463K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4600	−0.646%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4645	−0.547%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4474	−0.926%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4584	−0.682%	$207K	$40K	3x	as long as short
ApeX Omni NEARUSDT	+0.0132%	1h	4.4470	−0.936%	$168K	$803K	50x	as long as short
BingX NEAR-USDC	+0.0154%	8h	4.4890	0.000%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0169%	8h	4.4900	+0.022%	$85.7M	$144.4M	200x	as long as short
Binance NEARUSDT	+0.0170%	8h	4.4796	−0.209%	$271.3M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0288%	1h	4.4562	−0.731%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0290%	8h	4.4590	−0.668%	$13.6M	$32.9M	75x	as long as short
Kalshi KXNEARPERP	+0.0303%	8h	4.4427	−1.031%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0201%	1h	4.4837	−0.119%	$239K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4783	−0.239%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USDshort	+0.0376%	1h	4.4648	−0.539%	$3.7M	$19.0M	25x
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4543	−0.773%	$2.3M	$16.4M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.4759	−0.292%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0533%	1h	4.4465	−0.947%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0575%	1h	4.4664	−0.503%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0655%	1h	4.4561	−0.732%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0756%	1h	4.4901	+0.025%	$369.4M	$307.1M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4730	−0.356%	$227K	$1.6M	10x	as long as short
Lighter NEAR	+0.0920%	1h	4.4693	−0.438%	$17.5M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	−0.893%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1056%	1h	4.4708	−0.405%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4649	−0.538%	$410K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1191%	1h	4.4447	−0.986%	$6K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1232%	1h	4.4587	−0.675%	$1.9M	$12.2M	25x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4713	−0.395%	$682K	$1.4M	10x	as long as short