Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1012%/8h= −110.8% APRpaid last 24h −0.065%

Price spread now: KuCoin against Lighter RH−0.050%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$430.435% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.476%−$48 on $10k

Price spread, last 7 days−0.054%−$5 · spread now −0.050%, 7d avg −0.117%

Together, before fees−0.530%+ Points / potential airdropLighter RH: Points live · farm board−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.067% dearer against Lighter RH than usual: you sell high and buy low (spread −0.050% now, against its 7-day average of −0.117%): +$7 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.476% in total) that is about 24 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.476% in total (about -24.8% 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	Lighter RH NEAR	4.4212	0.1112	pay 0.0139% / 1h	3m 21s	$1.5M	$7.5M	10x
Short	KuCoin NEARUSDTM	4.4190	0.0100	get 0.0100% / 8h	2h 03m	$53.2M	$46.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$212.52
Price spread: −0.050% → −0.117%: $6.71
Slippage, 4 orders: −$31.47
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$249.28
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; KuCoin: live order book, 6 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, 5 min ago	1.83 bp	4.2 bp −$4	10.6 bp −$106	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.28 bp	16.5 bp −$17	36.4 bp −$364	97.8 bp −$9,784	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	4.4162	−0.113%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4137	−0.169%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4226	+0.031%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.338%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4170	−0.095%	$117K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4250	+0.086%	$222.5M	$423.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4300	+0.199%	$62.2M	$295.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.610%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4202	−0.023%	$33.7M	$61.3M	75x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4190	−0.050%	$53.2M	$46.0M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4302	+0.204%	$73.1M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4197	−0.033%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4142	−0.158%	$258K	$965K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4184	−0.063%	$272K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4306	+0.213%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4270	+0.131%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	−0.072%	$468K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4320	+0.244%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4140	−0.163%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0111%	8h	4.4060	−0.344%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4369	+0.356%	$206K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0130%	8h	4.4260	+0.109%	—	$6.6M	—	as long as short
MEXC NEAR_USDT	+0.0143%	8h	4.4170	−0.095%	$83.8M	$146.7M	200x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.4247	+0.079%	$268.9M	$1.09B	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4281	+0.156%	$2.3M	$16.4M	50x	as long as short
BloFin NEAR-USDT	+0.0262%	8h	4.4150	−0.140%	$13.3M	$32.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0311%	8h	4.4137	−0.170%	$1.0M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4175	−0.085%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0343%	8h	4.4226	+0.032%	$2.9M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0392%	1h	4.4132	−0.182%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.4312	+0.226%	$3.7M	$19.2M	25x	as long as short
ApeX Omni NEARUSDT	+0.0450%	1h	4.4150	−0.140%	$167K	$803K	50x	as long as short
SoDEX NEAR-USD	+0.0493%	1h	4.4305	+0.210%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0682%	1h	4.4223	+0.025%	$364.0M	$311.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0696%	1h	4.4198	−0.032%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0704%	1h	4.4209	−0.007%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0714%	1h	4.4321	+0.248%	$7.4M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4180	−0.072%	$225K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4167	−0.101%	$405K	$1.4M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.4216	+0.009%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4241	+0.066%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEARlong	+0.1112%	1h	4.4212	long leg	$1.5M	$7.5M	10x
RISEx NEAR/USDC	+0.1220%	1h	4.4169	−0.097%	$701K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1252%	1h	4.3970	−0.547%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1443%	1h	4.4376	+0.371%	$2.0M	$12.1M	25x	as long as short