Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0640%/8h= +70.0% APRpaid last 24h +0.102%

Price spread now: Kraken Futures against KuCoin−0.035%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.655% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)+0.284%+$28 · spread now −0.035%, 7d avg +0.005%

Together, before fees+0.492%+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.040% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.005%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.208% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.208% in total (about 10.9% 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	4.2770	0.0100	pay 0.0100% / 8h	2h 46m	$52.9M	$45.6M	75x
Short	Kraken Futures PF_NEARUSD	4.2755	0.0740	get 0.0092% / 1h	46m 41s	$7.5M	$38.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: $134.33
Price spread: −0.035% → +0.005%: −$3.97
Slippage, 4 orders: −$43.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $64.85
Costs to cover: 0.655%
Break-even: 3.6 days

Slippage from KuCoin: live order book, 7 min ago; Kraken Futures: live order book, 2 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, 7 min ago	2.34 bp	16.4 bp −$16	31.2 bp −$312	102.1 bp −$10.2K	doesn't fit
Sell Kraken Futures live order book, 2 min ago	7.47 bp	17.2 bp −$17	21.1 bp −$211	47.6 bp −$4,761	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	4.2719	−0.120%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2717	−0.123%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2719	−0.120%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.180%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2750	−0.047%	$111K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2777	+0.017%	$261.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2730	−0.094%	$212.3M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2730	−0.094%	$60.2M	$284.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	+0.153%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2729	−0.096%	$32.0M	$59.6M	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	4.2770	0.000%	$70.2M	$142.5M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.2770	long leg	$52.9M	$45.6M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2720	−0.117%	$70.6M	$127.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2740	−0.070%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2828	+0.134%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2870	+0.234%	$250K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2882	+0.263%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2758	−0.028%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2775	+0.012%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2850	+0.187%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2810	+0.094%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2770	0.000%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2727	−0.101%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2765	−0.012%	$199K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2760	−0.023%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2819	+0.115%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0271%	8h	4.2799	+0.068%	$843K	$24.4M	2.2x	as long as short
Nado NEAR-PERP	+0.0314%	1h	4.2741	−0.068%	$1.7M	$3.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2716	−0.126%	$229K	—	100x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.2760	−0.023%	$2.8M	$5.4M	50x	as long as short
ApeX Omni NEARUSDT	+0.0347%	1h	4.2880	+0.257%	$165K	$794K	50x	as long as short
Extended NEAR-USD	+0.0512%	1h	4.2705	−0.152%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0572%	1h	4.2755	−0.035%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0644%	1h	4.2749	−0.049%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0672%	1h	4.2775	+0.012%	$349.5M	$311.5M	10x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.2818	+0.112%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0740%	1h	4.2755	−0.035%	$7.5M	$38.7M	50x
Lighter NEAR	+0.0800%	1h	4.2800	+0.069%	$16.7M	$25.0M	15x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2770	0.000%	$210K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2765	−0.011%	$391K	$1.3M	10x	as long as short
Lighter RH NEAR	+0.1016%	1h	4.2804	+0.079%	$1.5M	$7.3M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2961	+0.447%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2753	−0.040%	$685K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1471%	1h	4.2799	+0.067%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.5647%	1h	4.2983	+0.498%	$2.0M	$11.0M	25x	as long as short