Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: dYdX against Kalshi+0.218%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1161.156% of the position

Long on Kalshi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−2.649%−$265 · spread now +0.218%, 7d avg −0.028%

Together, before fees−2.643%−$264 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.246% dearer against Kalshi than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.4876	0	get 0.0000% / 8h	1h 24m	$659K	$20.1M	2.2x
Short	dYdX NEAR-USD	4.4974	0	get 0.0000% / 1h	24m 44s	$111K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.218%Rate

Funding earned: $0
Price spread: +0.218% → −0.028%: $24.6
Slippage, 4 orders: −$95.55
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$90.95
Costs to cover: 1.156%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; dYdX: live order book, 39 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	5.42 bp	11.3 bp −$11	19.5 bp −$195	doesn't fit	doesn't fit
Sell dYdX live order book, 39 min ago	37.73 bp	50.7 bp −$51	86.1 bp −$861	114.4 bp −$11.4K	160.7 bp −$80.4K

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	4.4902	+0.057%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4923	+0.105%	$2.2M	$14.9M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.4974	+0.218%	$111K	$70K	10x
Kalshi KXNEARPERPlong	0.0000%	8h	4.4876	long leg	$659K	$20.1M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4922	+0.103%	$207K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.724%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4900	+0.053%	$117K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4992	+0.259%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5010	+0.299%	$274.0M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4981	+0.234%	$226.7M	$420.4M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4940	+0.143%	$64.5M	$299.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	−1.015%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4957	+0.180%	$32.6M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4980	+0.232%	$77.6M	$143.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4970	+0.209%	$56.4M	$44.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4939	+0.140%	$74.0M	$127.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4960	+0.187%	—	$145.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4586	−0.647%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4330	−1.216%	$266K	$985K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4439	−0.973%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4320	−1.239%	$173K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4943	+0.149%	$223K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4901	+0.056%	$62K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4960	+0.187%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4910	+0.076%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5000	+0.276%	$469K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4900	+0.053%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4879	+0.006%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4922	+0.101%	$3.9M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4920	+0.098%	$209K	$34K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4950	+0.165%	$13.9M	$32.8M	75x	as long as short
Aster NEARUSDT	+0.0259%	8h	4.5027	+0.336%	$3.1M	$5.4M	50x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.4979	+0.230%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0355% / S −0.0246%	1h	4.4916	+0.089%	$265K	—	100x	as long as short
Nado NEAR-PERP	+0.0369%	1h	4.4890	+0.032%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4970	+0.209%	$214K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0558%	1h	4.5018	+0.316%	$1.4M	$6.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0641%	1h	4.4953	+0.172%	$2.0M	$4.4M	25x	as long as short
Hyperliquid NEAR	+0.0669%	1h	4.5016	+0.311%	$374.7M	$309.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0685%	1h	4.4952	+0.170%	$8.3M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.5032	+0.348%	$1.7M	$7.0M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4889	+0.029%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4968	+0.205%	$543K	$1.3M	10x	as long as short
Lighter NEAR	+0.1272%	1h	4.5039	+0.363%	$18.0M	$26.0M	15x	as long as short
Aftermath Perps NEARUSD	+0.1573%	1h	4.4432	−0.990%	$6K	$12K	10x	as long as short