Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0378%/8h= −41.4% APRpaid last 24h −0.135%

Price spread now: Kalshi against Arcus−0.060%7-day average −0.025% · 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−$38as in the Price arb table

costs, in and out, $10k−$340.345% of the position

Long on Arcus Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.436%−$44 on $10k

Price spread, last 7 days+0.207%+$21 · spread now −0.060%, 7d avg −0.025%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kalshi is 0.036% cheaper against Arcus than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.2990	0.0627	pay 0.0078% / 1h	3m 13s	$211K	$1.6M	10x
Short	Kalshi KXNEARPERP	4.2964	0.0250	get 0.0250% / 8h	7h 03m	$777K	$23.9M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Arcus. 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 ArcusbpFee KalshibpOrdersPrice spread, now −0.060%Rate

Funding earned: −$79.35
Price spread: −0.060% → −0.025%: −$3.56
Slippage, 4 orders: −$19.96
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$117.36
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Arcus: live order book, 1 min ago; Kalshi: live order book, 6 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 Arcus live order book, 1 min ago	3.49 bp	6.9 bp −$7	16.9 bp −$169	doesn't fit	doesn't fit
Sell Kalshi live order book, 6 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	4.2969	−0.049%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2873	−0.273%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2940	−0.116%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.675%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2973	−0.040%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2970	−0.047%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2970	−0.047%	$262.0M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2930	−0.140%	$212.5M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2950	−0.093%	$60.8M	$285.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+1.068%	$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	4.2932	−0.135%	$31.9M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2970	−0.047%	$73.2M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2990	0.000%	$53.4M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2939	−0.119%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2960	−0.070%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	−0.006%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2977	−0.031%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2967	−0.053%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.465%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3000	+0.023%	$268K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2977	−0.030%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3010	+0.047%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3060	+0.163%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3010	+0.047%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2905	−0.199%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2994	+0.010%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2980	−0.023%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERPshort	+0.0250%	8h	4.2964	−0.060%	$777K	$23.9M	2.2x
Pacifica NEAR	+0.0263%	1h	4.2925	−0.150%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0321%	1h	4.2955	−0.081%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2936	−0.127%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2983	−0.015%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2999	+0.021%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0544%	1h	4.2952	−0.088%	$3.7M	$19.8M	25x	as long as short
Hyperliquid NEAR	+0.0561%	1h	4.2980	−0.023%	$351.8M	$313.1M	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.2950	−0.093%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0564%	1h	4.2977	−0.030%	$1.3M	$6.8M	20x	as long as short
Arcus NEAR-USDlong	+0.0627%	1h	4.2990	long leg	$211K	$1.6M	10x
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2957	−0.077%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0912%	1h	4.3008	+0.042%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.721%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1040%	1h	4.3027	+0.087%	$17.4M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2990	+0.001%	$672K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1310%	1h	4.3010	+0.047%	$1.9M	$10.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1536%	1h	4.3090	+0.234%	$5K	$12K	10x	as long as short