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: Coinbase International against Kalshi+0.021%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

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

Long on Kalshi Short on Coinbase International

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)+0.314%+$31 · spread now +0.021%, 7d avg +0.013%

Together, before fees+0.293%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

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	Kalshi KXNEARPERP	4.2912	0.0261	pay 0.0261% / 8h	7h 04m	$781K	$23.9M	2.2x
Short	Coinbase International NEAR-PERP-INTX	4.2921	0.0056	get 0.0007% / 1h	4m 29s	$2.3M	$15.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$42.98
Price spread: +0.021% → +0.013%: $0.76
Slippage, 4 orders: −$28.93
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$91.15
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Coinbase International: live order book, 5 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, 4 min ago	3.82 bp	8.8 bp −$9	18.7 bp −$187	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	6.13 bp	13.8 bp −$14	18.3 bp −$183	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	4.2909	−0.006%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2946	+0.080%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2893	−0.044%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.500%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTXshort	+0.0056%	1h	4.2921	+0.021%	$2.3M	$15.7M	50x
Popdex NEARUSDT	+0.0096%	1h	4.2910	−0.005%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2940	+0.065%	$262.3M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2902	−0.023%	$212.6M	$426.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2880	−0.075%	$60.7M	$285.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+1.251%	$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	4.2889	−0.054%	$31.9M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2940	+0.065%	$73.4M	$147.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2950	+0.089%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2903	−0.021%	$71.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2910	−0.005%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	+0.176%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3144	+0.540%	$252K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3190	+0.648%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.648%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2947	+0.082%	$268K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2903	−0.021%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3020	+0.252%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3000	+0.205%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2950	+0.089%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2926	+0.032%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2915	+0.007%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2990	+0.182%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERPlong	+0.0261%	8h	4.2912	long leg	$781K	$23.9M	2.2x
Pacifica NEAR	+0.0263%	1h	4.2979	+0.156%	$397K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2885	−0.064%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0329%	1h	4.2905	−0.016%	$6K	$53K	10x	as long as short
Aster NEARUSDT	+0.0332%	8h	4.2930	+0.042%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.2956	+0.103%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0560%	1h	4.2935	+0.054%	$3.7M	$19.8M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0563%	1h	4.2974	+0.144%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0568%	1h	4.2905	−0.016%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0570%	1h	4.2934	+0.051%	$351.5M	$313.0M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.182%	$211K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0659%	1h	4.2930	+0.042%	$1.9M	$9.9M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0718%	1h	4.2904	−0.019%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3008	+0.224%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.904%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1032%	1h	4.3038	+0.294%	$17.4M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2947	+0.081%	$669K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1540%	1h	4.3126	+0.499%	$5K	$12K	10x	as long as short