Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Polymarket Perps+0.043%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 7 days+0.055%+$5 · spread now +0.043%, 7d avg −0.013%

Together, before fees−0.126%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.057% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.013%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NEAR-USD	4.4112	0.0100	pay 0.0013% / 1h	14m 46s	$244K	$3.9M	10x
Short	Kalshi KXNEARPERP	4.4131	0	get 0.0000% / 8h	14m 46s	$619K	$22.3M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now +0.043%Rate

Funding earned: −$21
Price spread: +0.043% → −0.013%: $5.65
Slippage, 4 orders: −$21.53
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$54.88
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Kalshi: live order book, 4 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 Polymarket Perps live order book, 4 min ago	1.47 bp	5.6 bp −$6	11.4 bp −$114	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	7.56 bp	12.6 bp −$13	19.7 bp −$197	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	4.4012	−0.228%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4070	−0.095%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4032	−0.182%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4131	+0.043%	$619K	$22.3M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	+0.083%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.125%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4110	−0.005%	$113K	$519K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4063	−0.111%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4083	−0.067%	$271.1M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4027	−0.193%	$221.6M	$425.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4040	−0.163%	$62.8M	$299.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	−0.131%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4040	−0.163%	$32.1M	$64.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4080	−0.073%	$74.6M	$150.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4070	−0.095%	$54.6M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4051	−0.138%	$72.3M	$130.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4050	−0.141%	—	$147.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4137	+0.057%	$8.6M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4270	+0.358%	$266K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4260	+0.336%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4210	+0.222%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USDlong	+0.0100%	1h	4.4112	long leg	$244K	$3.9M	10x
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4154	+0.095%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4200	+0.199%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4230	+0.268%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4160	+0.109%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4037	−0.170%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4123	+0.025%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0159%	1h	4.4055	−0.129%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4190	+0.177%	$13.8M	$32.9M	75x	as long as short
Aster NEARUSDT	+0.0307%	8h	4.4093	−0.042%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4191	+0.178%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0328%	1h	4.4071	−0.093%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4164	+0.118%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0362%	1h	4.4100	−0.027%	$363.7M	$324.8M	10x	as long as short
Extended NEAR-USD	+0.0416%	1h	4.4025	−0.197%	$3.9M	$19.6M	25x	as long as short
Nado NEAR-PERP	+0.0549%	1h	4.4061	−0.115%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4100	−0.027%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4088	−0.054%	$8.1M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0664%	1h	4.4119	+0.016%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0724%	1h	4.4167	+0.125%	$2.0M	$7.3M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4322	+0.476%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4093	−0.044%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0952%	1h	4.4136	+0.055%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1574%	1h	4.4184	+0.162%	$5K	$12K	10x	as long as short