Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h −0.122%

Price spread now: Bybit against Kraken Futures+0.015%7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.255%−$25 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.015%, 7d avg −0.071%

Together, before fees−0.415%−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.086% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.071%. Mind the row above: over the last 7 days funding on this pair cost −0.255%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NEARUSD	4.3663	0.0017	pay 0.0002% / 1h	9m 42s	$7.1M	$38.2M	50x
Short	Bybit NEARUSDT	4.3670	0.0100	get 0.0100% / 8h	9m 42s	$220.5M	$428.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.015%Rate

Funding earned: $17.53
Price spread: +0.015% → −0.071%: $8.63
Slippage, 4 orders: −$24.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$19.45
Costs to cover: 0.456%
Break-even: 14.8 days

Slippage from Kraken Futures: live order book, 4 min ago; Bybit: 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 Kraken Futures live order book, 4 min ago	9.97 bp	15.0 bp −$15	16.5 bp −$165	47.6 bp −$4,756	5610.5 bp −$2.81M
Sell Bybit live order book, 4 min ago	1.14 bp	8.4 bp −$8	13.4 bp −$134	33.6 bp −$3,355	148.4 bp −$74.2K

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	4.3639	−0.055%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3676	+0.029%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3660	−0.008%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0017%	1h	4.3663	long leg	$7.1M	$38.2M	50x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.161%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3610	−0.122%	$113K	$498K	50x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3670	+0.015%	$220.5M	$428.5M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3680	+0.038%	$61.3M	$295.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.144%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3668	+0.010%	$35.8M	$63.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3710	+0.107%	$53.0M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3675	+0.026%	$72.2M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3490	−0.398%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3647	−0.039%	$253K	$902K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3469	−0.446%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3540	−0.283%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3646	−0.040%	$278K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3682	+0.042%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3680	+0.038%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3680	+0.038%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3680	+0.038%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3685	+0.049%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3665	+0.002%	$3.6M	$16.6M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3695	+0.072%	$203K	$38K	3x	as long as short
Aster NEARUSDT	+0.0122%	8h	4.3708	+0.101%	$2.7M	$4.8M	50x	as long as short
Hyperliquid NEAR	+0.0136%	1h	4.3709	+0.104%	$352.3M	$314.8M	10x	as long as short
HTX NEAR-USDT	+0.0154%	8h	4.3690	+0.061%	$465K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0155%	8h	4.3708	+0.101%	$264.7M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0156%	8h	4.3670	+0.015%	$87.9M	$153.7M	200x	as long as short
BingX NEAR-USDT	+0.0165%	8h	4.3680	+0.038%	—	$144.5M	—	as long as short
Kalshi KXNEARPERP	+0.0173%	8h	4.3586	−0.177%	$974K	$25.1M	2.2x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3701	+0.086%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0279%	8h	4.3500	−0.374%	$13.3M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0340% / S −0.0239%	1h	4.3660	−0.007%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0377%	1h	4.3665	+0.004%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0460%	1h	4.3703	+0.091%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3692	+0.065%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.3747	+0.191%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.3761	+0.223%	$17.2M	$25.4M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3700	+0.084%	$229K	$1.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0826%	1h	4.3712	+0.111%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3698	+0.080%	$412K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3782	+0.271%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3696	+0.075%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1114%	1h	4.3570	−0.214%	$5K	$7K	10x	as long as short