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: Arcus against Kalshi+0.061%7-day average +0.025% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Kalshi Short on Arcus

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 +0.061%, 7d avg +0.025%

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

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Arcus is 0.036% dearer against Kalshi than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.2964	0.0250	pay 0.0250% / 8h	7h 03m	$777K	$23.9M	2.2x
Short	Arcus NEAR-USD	4.2990	0.0627	get 0.0078% / 1h	3m 07s	$211K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kalshi. 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 KalshibpFee ArcusbpOrdersPrice spread, now +0.061%Rate

Funding earned: $79.35
Price spread: +0.061% → +0.025%: $3.56
Slippage, 4 orders: −$19.85
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $48.55
Costs to cover: 0.344%
Break-even: 2.7 days

Slippage from Kalshi: live order book, 1 min ago; Arcus: live order book, 1 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 Kalshi live order book, 1 min ago	1.86 bp	14.8 bp −$15	21.1 bp −$211	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	3.49 bp	5.7 bp −$6	9.4 bp −$94	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	+0.011%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2873	−0.212%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2940	−0.056%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.617%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2973	+0.021%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2970	+0.014%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2970	+0.014%	$262.0M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2930	−0.079%	$212.5M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2950	−0.033%	$60.8M	$285.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+1.129%	$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	−0.074%	$31.9M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2970	+0.014%	$73.2M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2990	+0.061%	$53.4M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2939	−0.058%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2960	−0.009%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	+0.055%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2977	+0.030%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2967	+0.008%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.526%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3000	+0.084%	$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	+0.107%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3060	+0.223%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3010	+0.107%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2905	−0.138%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2994	+0.071%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2980	+0.037%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERPlong	+0.0250%	8h	4.2964	long leg	$777K	$23.9M	2.2x
Pacifica NEAR	+0.0263%	1h	4.2925	−0.090%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0321%	1h	4.2955	−0.021%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2936	−0.066%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2983	+0.045%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2999	+0.081%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0544%	1h	4.2952	−0.027%	$3.7M	$19.8M	25x	as long as short
Hyperliquid NEAR	+0.0561%	1h	4.2980	+0.037%	$351.8M	$313.1M	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.2950	−0.033%	$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-USDshort	+0.0627%	1h	4.2990	+0.061%	$211K	$1.6M	10x
Kraken Futures PF_NEARUSD	+0.0717%	1h	4.2957	−0.017%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0912%	1h	4.3008	+0.102%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.782%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1040%	1h	4.3027	+0.148%	$17.4M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2990	+0.061%	$672K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1310%	1h	4.3010	+0.107%	$1.9M	$10.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1536%	1h	4.3090	+0.294%	$5K	$12K	10x	as long as short