Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h +0.113%

Price spread now: Kraken Futures against OKX−0.066%7-day average +0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.066%, 7d avg +0.077%

Together, before fees+0.414%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.143% cheaper against OKX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.077%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.206%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3660	0.0100	pay 0.0100% / 8h	13m 59s	$61.2M	$295.8M	50x
Short	Kraken Futures PF_NEARUSD	4.3631	0.0017	get 0.0002% / 1h	13m 59s	$7.1M	$38.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$17.53
Price spread: −0.066% → +0.077%: −$14.3
Slippage, 4 orders: −$20.84
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$72.67
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 5 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 OKX live order book, 5 min ago	1.15 bp	9.3 bp −$9	14.1 bp −$141	37.3 bp −$3,725	doesn't fit
Sell Kraken Futures live order book, 5 min ago	5.96 bp	13.3 bp −$13	25.4 bp −$254	54.8 bp −$5,483	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	4.3615	−0.103%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3616	−0.100%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3625	−0.081%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0017%	1h	4.3631	−0.066%	$7.1M	$38.4M	50x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.153%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3600	−0.137%	$113K	$499K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3670	+0.023%	$220.5M	$428.7M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3660	long leg	$61.2M	$295.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.136%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3655	−0.011%	$35.8M	$62.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3680	+0.046%	$52.9M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3670	+0.023%	$72.2M	$127.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3658	−0.004%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3701	+0.093%	$253K	$901K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3600	−0.138%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3590	−0.160%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3612	−0.110%	$277K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3681	+0.048%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3740	+0.183%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3670	+0.023%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3660	0.000%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3652	−0.018%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3663	+0.007%	$3.6M	$16.7M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3680	+0.046%	$203K	$38K	3x	as long as short
Aster NEARUSDT	+0.0135%	8h	4.3664	+0.009%	$2.7M	$4.8M	50x	as long as short
Hyperliquid NEAR	+0.0146%	1h	4.3702	+0.096%	$352.2M	$316.0M	10x	as long as short
HTX NEAR-USDT	+0.0152%	8h	4.3660	0.000%	$465K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0165%	8h	4.3679	+0.044%	$264.2M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0167%	8h	4.3680	+0.046%	$89.0M	$153.0M	200x	as long as short
Kalshi KXNEARPERP	+0.0177%	8h	4.3669	+0.021%	$981K	$25.1M	2.2x	as long as short
BingX NEAR-USDT	+0.0178%	8h	4.3680	+0.046%	—	$144.3M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3619	−0.094%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0288%	8h	4.3620	−0.092%	$13.3M	$32.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0338% / S −0.0237%	1h	4.3626	−0.078%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3576	−0.193%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0461%	1h	4.3694	+0.078%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3667	+0.016%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0520%	1h	4.3714	+0.124%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.3718	+0.133%	$17.2M	$25.4M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3610	−0.115%	$229K	$1.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0643%	1h	4.3699	+0.089%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3644	−0.037%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3794	+0.307%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3608	−0.119%	$609K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1130%	1h	4.3611	−0.112%	$5K	$7K	10x	as long as short