Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0577%/8h= −63.2% APRpaid last 24h −0.038%

Price spread now: Kalshi against Pacifica+0.057%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.243%−$24 on $10k

Price spread, last 7 days+0.090%+$9 · spread now +0.057%, 7d avg −0.011%

Together, before fees−0.153%+ Points / potential airdropPacifica: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.067% dearer against Pacifica than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.011%): +$7 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.243% in total) that is about 46 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.243% in total (about -12.7% 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	Pacifica NEAR	4.2828	0.0847	pay 0.0106% / 1h	50m 56s	$393K	$1.3M	10x
Short	Kalshi KXNEARPERP	4.2852	0.0270	get 0.0270% / 8h	6h 50m	$831K	$24.5M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now +0.057%Rate

Funding earned: −$121.12
Price spread: +0.057% → −0.011%: $6.71
Slippage, 4 orders: −$26.78
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$159.19
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Kalshi: live order book, 3 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 Pacifica live order book, 3 min ago	2.80 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	6.67 bp	11.7 bp −$12	17.7 bp −$177	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	4.2831	+0.007%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2812	−0.036%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2827	−0.001%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.310%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2800	−0.065%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2914	+0.202%	$261.7M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2850	+0.052%	$212.6M	$426.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2870	+0.099%	$60.5M	$286.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	+0.018%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2862	+0.080%	$32.0M	$59.5M	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	4.2890	+0.145%	$70.7M	$142.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	+0.192%	$53.1M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2862	+0.080%	$70.9M	$127.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2890	+0.145%	—	$144.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2828	−0.001%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2783	−0.104%	$250K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2800	−0.065%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2854	+0.061%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2893	+0.152%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2970	+0.332%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2860	+0.075%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2920	+0.215%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2772	−0.130%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2924	+0.224%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2950	+0.285%	$13.4M	$31.7M	75x	as long as short
Nado NEAR-PERP	+0.0248%	1h	4.2789	−0.091%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2840	+0.028%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERPshort	+0.0270%	8h	4.2852	+0.057%	$831K	$24.5M	2.2x
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2840	+0.028%	$229K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2898	+0.165%	$2.8M	$5.5M	50x	as long as short
ApeX Omni NEARUSDT	+0.0365%	1h	4.2740	−0.205%	$164K	$793K	50x	as long as short
Extended NEAR-USD	+0.0504%	1h	4.2852	+0.057%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0638%	1h	4.2885	+0.134%	$6K	$53K	10x	as long as short
Hyperliquid NEAR	+0.0660%	1h	4.2920	+0.215%	$350.4M	$311.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0676%	1h	4.2908	+0.187%	$1.3M	$6.8M	20x	as long as short
01 Exchange NEARUSD	+0.0680%	1h	4.2839	+0.026%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2885	+0.133%	$7.6M	$38.8M	50x	as long as short
Lighter NEAR	+0.0752%	1h	4.2936	+0.252%	$16.8M	$25.0M	15x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2820	−0.018%	$210K	$1.6M	10x	as long as short
Pacifica NEARlong	+0.0847%	1h	4.2828	long leg	$393K	$1.3M	10x
Lighter RH NEAR	+0.0928%	1h	4.2948	+0.281%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2873	+0.106%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2802	−0.059%	$676K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1337%	1h	4.2918	+0.211%	$1.9M	$10.6M	25x	as long as short
Aftermath Perps NEARUSD	+0.1463%	1h	4.2876	+0.114%	$5K	$12K	10x	as long as short