Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0696%/8h= −76.2% APRpaid last 24h −0.074%

Price spread now: Kalshi against Lighter RH−0.117%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Lighter RH Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.625%−$63 on $10k

Price spread, last 7 days+0.217%+$22 · spread now −0.117%, 7d avg −0.125%

Together, before fees−0.408%+ Points / potential airdropLighter RH: Points live · farm board−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.125%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NEAR	4.4397	0.0696	pay 0.0087% / 1h	27m 26s	$1.6M	$6.9M	10x
Short	Kalshi KXNEARPERP	4.4345	0	get 0.0000% / 8h	1h 27m	$589K	$19.8M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Lighter RH. 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 Lighter RHbpFee KalshibpOrdersPrice spread, now −0.117%Rate

Funding earned: −$146.16
Price spread: −0.117% → −0.125%: $0.79
Slippage, 4 orders: −$21.86
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$177.23
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 6 min ago; Kalshi: 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 Lighter RH live order book, 6 min ago	2.58 bp	2.6 bp −$3	12.2 bp −$122	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	5.42 bp	10.8 bp −$11	19.5 bp −$195	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	4.4264	−0.299%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4291	−0.239%	$2.2M	$14.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4381	−0.037%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4345	−0.117%	$589K	$19.8M	2.2x
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.4295	−0.230%	$1.9M	$4.4M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4307	−0.202%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.728%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4350	−0.106%	$116K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4353	−0.099%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4322	−0.169%	$269.1M	$1.08B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.4290	−0.241%	$222.8M	$419.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4240	−0.354%	$63.7M	$293.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	+0.053%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4342	−0.124%	$32.1M	$62.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4320	−0.173%	$76.6M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4320	−0.173%	$55.6M	$44.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4277	−0.270%	$73.0M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4300	−0.218%	—	$145.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4186	−0.475%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4398	+0.002%	$266K	$984K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4397	+0.001%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4160	−0.534%	$172K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4349	−0.108%	$212K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4257	−0.315%	$61K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4310	−0.196%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4280	−0.264%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	−0.128%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4270	−0.286%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4336	−0.138%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4347	−0.112%	$3.8M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4290	−0.241%	$206K	$34K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4520	+0.277%	$13.7M	$31.7M	75x	as long as short
Aster NEARUSDT	+0.0240%	8h	4.4343	−0.122%	$3.0M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4279	−0.265%	$261K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.4356	−0.092%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0402%	1h	4.4280	−0.264%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4390	−0.016%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0550%	1h	4.4349	−0.108%	$1.4M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0694%	1h	4.4335	−0.140%	$369.1M	$309.4M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0696%	1h	4.4280	−0.264%	$8.2M	$40.9M	50x	as long as short
Lighter RH NEARlong	+0.0696%	1h	4.4397	long leg	$1.6M	$6.9M	10x
Phoenix NEAR	+0.0855%	1h	4.4364	−0.074%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4386	−0.024%	$538K	$1.3M	10x	as long as short
Lighter NEAR	+0.1272%	1h	4.4376	−0.046%	$17.7M	$25.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1660%	1h	4.4306	−0.205%	$6K	$12K	10x	as long as short