NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0598%/8h= +65.5% APRnext payment +$0.75 per $10,000 · paid last 24h +0.100%

Price spread now: Hyperliquid against Kraken Futures+0.096%50s7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.518% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.209%+$21 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.096%, 7d avg +0.094%

Together, before fees+0.159%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.094%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.209% in total (about 10.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.75 per $10,000. 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	Kraken Futures PF_NEARUSD	4.3095	−0.0131	get 0.0016% / 1h	1m 29s	$7.9M	$38.0M	50x
Short	Hyperliquid NEAR	4.3136	0.0467	get 0.0058% / 1h	1m 29s	$365.9M	$301.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.096%Rate

Funding earned: $125.56
Price spread: +0.096% → +0.094%: $0.18
Slippage, 4 orders: −$32.84
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $73.9
Costs to cover: 0.518%
Break-even: 2.9 days

Slippage from Kraken Futures: live order book, 3 min ago; Hyperliquid: live order book, 13 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, 3 min ago	3.93 bp	14.5 bp −$15	20.1 bp −$201	67.9 bp −$6,789	6645.4 bp −$3.32M
Sell Hyperliquid live order book, 13 min ago	1.96 bp	9.3 bp −$9	doesn't fit	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	4.2973	−0.283%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSDlong	−0.0131%	1h	4.3095	long leg	$7.9M	$38.0M	50x
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3074	−0.048%	$2.1M	$13.2M	50x	as long as short
Phemex NEARUSDT	−0.0043%	8h	4.3070	−0.057%	$3.8M	$8.4M	50x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3077	−0.041%	$380K	$18.7M	2.2x	as long as short
dYdX NEAR-USD	+0.0004%	1h	4.3117	+0.052%	$112K	$64K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2982	−0.262%	$157K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3057	−0.088%	$8.2M	$18.8M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.909%	$578	$302K	12x	as long as short
01 Exchange NEARUSD	+0.0056%	1h	4.3120	+0.059%	$13K	$7K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3070	−0.057%	$115K	$473K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2978	−0.271%	$57K	$162K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3110	+0.036%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3108	+0.030%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2997	−0.227%	$256.7M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2957	−0.320%	$219.9M	$416.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2950	−0.336%	$60.9M	$275.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3110	+0.035%	$204K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3243	+0.343%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2970	−0.290%	$30.8M	$61.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2980	−0.266%	$74.1M	$142.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3080	−0.034%	$55.7M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2992	−0.238%	$71.2M	$122.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2990	−0.243%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3202	+0.249%	$257K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3356	+0.606%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3200	+0.244%	$177K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3074	−0.048%	$203K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3150	+0.128%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3065	−0.069%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	+0.244%	$455K	$3.6M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3080	−0.034%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3045	−0.115%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3059	−0.082%	$200K	$31K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3140	+0.105%	$13.2M	$27.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0238%	1h	4.3076	−0.044%	$1.9M	$3.9M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0308%	1h	4.2968	−0.294%	$275K	—	100x	as long as short
Nado NEAR-PERP	+0.0426%	1h	4.3034	−0.140%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3122	+0.063%	$410K	$1.2M	10x	as long as short
Hyperliquid NEARshort	+0.0467%	1h	4.3136	+0.096%	$365.9M	$301.7M	10x
Backpack NEAR_USDC_PERP	+0.0491%	1h	4.3139	+0.103%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3191	+0.223%	$1.8M	$2.7M	10x	as long as short
Lighter RH NEAR	+0.0512%	1h	4.3183	+0.205%	$1.6M	$7.0M	10x	as long as short
Aftermath Perps NEARUSD	+0.1478%	1h	4.3199	+0.243%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.3184	+0.208%	$17.3M	$24.8M	15x	as long as short