Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%

Price spread now: Injective against KuCoin−3.563%7-day average +0.610% · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+5.958%+$596 · spread now −3.563%, 7d avg +0.610%

Together, before fees+6.000%+$600 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.173% cheaper against KuCoin than usual: you would sell low and buy high (−$417 if the spread goes back to its 7-day average of +0.610%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.2940	0.0100	pay 0.0100% / 8h	2h 28m	$51.8M	$45.7M	75x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	28m 55s	$578	$301K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −3.563%Rate

Funding earned: −$14
Price spread: −3.563% → +0.610%: −$417.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$443.35
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Injective: 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 KuCoin live order book, 5 min ago	2.33 bp	15.6 bp −$16	36.5 bp −$365	107.9 bp −$10.8K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	4.3004	+0.148%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2937	−0.006%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2936	−0.010%	$161K	—	150x	as long as short
Injective NEAR/USDC PERPshort	+0.0033%	1h	4.1410	−3.563%	$578	$301K	12x
Popdex NEARUSDT	+0.0096%	1h	4.3020	+0.186%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2944	+0.010%	$262.6M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2890	−0.116%	$213.9M	$420.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2910	−0.070%	$60.4M	$284.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.134%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2894	−0.107%	$32.4M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2960	+0.047%	$76.0M	$143.9M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.2940	long leg	$51.8M	$45.7M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2888	−0.121%	$70.9M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2910	−0.070%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	−0.144%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	+0.052%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2943	+0.007%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3027	+0.203%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2972	+0.075%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3110	+0.396%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3070	+0.303%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2920	−0.047%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2957	+0.039%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2980	+0.093%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2920	−0.047%	$13.2M	$31.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3035	+0.221%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0262%	8h	4.3002	+0.144%	$869K	$24.6M	2.2x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	+0.047%	$165K	$795K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2931	−0.021%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2920	−0.047%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0376%	1h	4.3000	+0.141%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2899	−0.094%	$3.7M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0572%	1h	4.2925	−0.035%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0660%	1h	4.2884	−0.130%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0688%	1h	4.2940	0.000%	$351.1M	$310.3M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2919	−0.049%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3093	+0.356%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3050	+0.256%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2975	+0.080%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.2933	−0.016%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3089	+0.347%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1128%	1h	4.2928	−0.028%	$1.4M	$7.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1171%	1h	4.2974	+0.079%	$1.9M	$11.0M	25x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3046	+0.248%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1362%	1h	4.2977	+0.086%	$5K	$12K	10x	as long as short