Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0902%/8h= −98.7% APRpaid last 24h −0.176%

Price spread now: Kalshi against RISEx−0.102%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on RISEx Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.518%−$52 on $10k

Price spread, last 7 days+0.178%+$18 · spread now −0.102%, 7d avg −0.029%

Together, before fees−0.340%−$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Kalshi is 0.073% cheaper against RISEx than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx NEAR/USDC	4.3148	0.1162	pay 0.0145% / 1h	5m 51s	$670K	$1.3M	10x
Short	Kalshi KXNEARPERP	4.3104	0.0261	get 0.0261% / 8h	7h 05m	$869K	$23.5M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against RISEx. 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 RISExbpFee KalshibpOrdersPrice spread, now −0.102%Rate

Funding earned: −$189.34
Price spread: −0.102% → −0.029%: −$7.33
Slippage, 4 orders: −$16.79
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$229.45
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from RISEx: 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 RISEx live order book, 3 min ago	2.49 bp	5.5 bp −$5	12.3 bp −$123	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	3.82 bp	13.0 bp −$13	20.3 bp −$203	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	4.2987	−0.372%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3132	−0.037%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2980	−0.389%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.028%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3072	−0.176%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3000	−0.343%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2957	−0.444%	$262.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2884	−0.612%	$212.2M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2900	−0.575%	$60.8M	$285.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.698%	$248K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.2966	−0.422%	$31.9M	$62.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3030	−0.274%	$73.6M	$147.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3030	−0.274%	$53.4M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2909	−0.554%	$70.9M	$127.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3000	−0.343%	—	$144.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	−0.372%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	−0.010%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3206	+0.134%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3130	−0.042%	$166K	$795K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3039	−0.253%	$269K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3027	−0.280%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3090	−0.134%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	−0.111%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3010	−0.320%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3121	−0.063%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3037	−0.258%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3210	+0.144%	$13.5M	$31.9M	75x	as long as short
Kalshi KXNEARPERPshort	+0.0261%	8h	4.3104	−0.102%	$869K	$23.5M	2.2x
Pacifica NEAR	+0.0263%	1h	4.3169	+0.049%	$398K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2971	−0.411%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0333%	1h	4.2995	−0.355%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2990	−0.366%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3171	+0.053%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2986	−0.377%	$3.8M	$19.8M	25x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0564%	1h	4.3017	−0.304%	$1.9M	$9.9M	25x	as long as short
Nado NEAR-PERP	+0.0567%	1h	4.3029	−0.275%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0567%	1h	4.3016	−0.306%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0577%	1h	4.2954	−0.450%	$351.8M	$312.7M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3160	+0.028%	$212K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2990	−0.367%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3067	−0.188%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3324	+0.408%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1072%	1h	4.3079	−0.160%	$17.4M	$25.1M	15x	as long as short
RISEx NEAR/USDClong	+0.1162%	1h	4.3148	long leg	$670K	$1.3M	10x
Aftermath Perps NEARUSD	+0.1589%	1h	4.3223	+0.174%	$5K	$12K	10x	as long as short