Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0205%/8h= +22.4% APRpaid last 24h +0.012%

Price spread now: Kalshi against Coinbase International+0.074%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

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

costs, in and out, $10k−$490.489% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.409%−$41 · spread now +0.074%, 7d avg −0.013%

Together, before fees−0.388%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kalshi is 0.088% dearer against Coinbase International than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% 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	Coinbase International NEAR-PERP-INTX	4.3072	0.0056	pay 0.0007% / 1h	5m 23s	$2.3M	$15.8M	50x
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 Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.074%Rate

Funding earned: $42.98
Price spread: +0.074% → −0.013%: $8.77
Slippage, 4 orders: −$28.93
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $2.82
Costs to cover: 0.489%
Break-even: 6.5 days

Slippage from Coinbase International: 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 Coinbase International live order book, 4 min ago	6.13 bp	13.3 bp −$13	18.9 bp −$189	731.0 bp −$73.1K	doesn't fit
Sell Kalshi live order book, 4 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	4.2933	−0.323%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2890	−0.423%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2913	−0.369%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.859%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTXlong	+0.0056%	1h	4.3072	long leg	$2.3M	$15.8M	50x
Popdex NEARUSDT	+0.0096%	1h	4.2900	−0.399%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2953	−0.276%	$262.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2917	−0.360%	$212.7M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2940	−0.306%	$60.7M	$285.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.875%	$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	4.2906	−0.385%	$31.9M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2950	−0.283%	$71.8M	$147.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2960	−0.260%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2941	−0.304%	$71.0M	$127.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2930	−0.330%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	−0.196%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	+0.167%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3190	+0.274%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.274%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2947	−0.290%	$269K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3027	−0.104%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3090	+0.042%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.065%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3010	−0.144%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2889	−0.424%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3037	−0.082%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3210	+0.320%	$13.5M	$31.9M	75x	as long as short
Kalshi KXNEARPERPshort	+0.0261%	8h	4.3104	+0.074%	$869K	$23.5M	2.2x
Pacifica NEAR	+0.0263%	1h	4.2927	−0.336%	$396K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2971	−0.235%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0333%	1h	4.2995	−0.179%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0334%	8h	4.2930	−0.330%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2959	−0.262%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2904	−0.389%	$3.7M	$19.8M	25x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0564%	1h	4.3017	−0.128%	$1.9M	$9.9M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0567%	1h	4.3016	−0.130%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0567%	1h	4.2900	−0.399%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0578%	1h	4.2963	−0.253%	$351.8M	$312.8M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2960	−0.260%	$211K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2990	−0.191%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.2986	−0.200%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.529%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1048%	1h	4.2987	−0.199%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2937	−0.315%	$668K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1539%	1h	4.3173	+0.234%	$5K	$12K	10x	as long as short