Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0747%/8h= −81.8% APRpaid last 24h −0.008%

Price spread now: KuCoin against Pacifica−0.002%46s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.566% of the position

Long on Pacifica Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.002%, 7d avg +0.001%

Together, before fees−0.053%+ Points / potential airdropPacifica: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: −$22 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% 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	4.2891	0.0847	pay 0.0106% / 1h	51m 55s	$394K	$1.3M	10x
Short	KuCoin NEARUSDTM	4.2890	0.0100	get 0.0100% / 8h	2h 51m	$53.0M	$45.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$156.81
Price spread: −0.002% → +0.001%: −$0.29
Slippage, 4 orders: −$36.58
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$213.67
Costs to cover: 0.566%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; KuCoin: 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 Pacifica live order book, 2 min ago	2.80 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.34 bp	18.7 bp −$19	33.4 bp −$334	95.8 bp −$9,585	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	4.2824	−0.156%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2825	−0.154%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2823	−0.159%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.452%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2860	−0.072%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2890	−0.002%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2836	−0.128%	$212.4M	$426.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2850	−0.095%	$60.4M	$286.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	−0.129%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2870	−0.048%	$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	4.2880	−0.025%	$70.7M	$142.4M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.2890	−0.002%	$53.0M	$45.8M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2823	−0.158%	$70.8M	$127.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2860	−0.072%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2828	−0.148%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2849	−0.098%	$250K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2790	−0.235%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2866	−0.058%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2893	+0.005%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2940	+0.115%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2910	+0.045%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2890	−0.002%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2858	−0.076%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2871	−0.047%	$199K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2850	−0.095%	$13.4M	$31.6M	75x	as long as short
Nado NEAR-PERP	+0.0228%	1h	4.2850	−0.095%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2865	−0.060%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0271%	8h	4.2855	−0.083%	$828K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2802	−0.206%	$230K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.2880	−0.025%	$2.8M	$5.5M	50x	as long as short
Extended NEAR-USD	+0.0512%	1h	4.2838	−0.123%	$3.7M	$19.9M	25x	as long as short
ApeX Omni NEARUSDT	+0.0512%	1h	4.2830	−0.142%	$165K	$793K	50x	as long as short
SoDEX NEAR-USD	+0.0631%	1h	4.2875	−0.037%	$6K	$53K	10x	as long as short
Hyperliquid NEAR	+0.0652%	1h	4.2887	−0.009%	$350.2M	$311.1M	10x	as long as short
Lighter NEAR	+0.0656%	1h	4.2933	+0.097%	$16.8M	$25.0M	15x	as long as short
01 Exchange NEARUSD	+0.0664%	1h	4.2937	+0.108%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0686%	1h	4.2907	+0.038%	$1.3M	$6.8M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0738%	1h	4.2876	−0.034%	$7.6M	$38.8M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2910	+0.045%	$210K	$1.6M	10x	as long as short
Pacifica NEARlong	+0.0847%	1h	4.2891	long leg	$394K	$1.3M	10x
Lighter RH NEAR	+0.0864%	1h	4.2932	+0.096%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1010%	1h	4.2911	+0.047%	$1.9M	$10.6M	25x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2873	−0.042%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2895	+0.010%	$676K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1468%	1h	4.2880	−0.025%	$5K	$12K	10x	as long as short