Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0594%/8h= −65.0% APRpaid last 24h −0.102%

Price spread now: MEXC against Kraken Futures+0.255%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 4 days (all we have)−0.483%−$48 · spread now +0.255%, 7d avg −0.046%

Together, before fees−0.697%−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.301% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.255% now, against its 7-day average of −0.046%): +$30 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.213% in total) that is about 9.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.213% in total (about -11.1% 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	Kraken Futures PF_NEARUSD	4.3739	0.0723	pay 0.0090% / 1h	7m 49s	$7.3M	$39.0M	50x
Short	MEXC NEAR_USDT	4.3850	0.0129	get 0.0129% / 8h	2h 07m	$83.4M	$146.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.255%Rate

Funding earned: −$124.75
Price spread: +0.255% → −0.046%: $30.07
Slippage, 4 orders: −$24.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$129
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; MEXC: 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 Kraken Futures live order book, 1 min ago	7.54 bp	18.4 bp −$18	22.7 bp −$227	55.3 bp −$5,526	4917.3 bp −$2.46M
Sell MEXC live order book, 1 min ago	1.14 bp	1.1 bp −$1	2.2 bp −$22	46.8 bp −$4,678	90.2 bp −$45.1K

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	4.3759	+0.046%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3837	+0.224%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3738	−0.001%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.324%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3810	+0.163%	$116K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3883	+0.330%	$219.4M	$420.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3890	+0.346%	$61.9M	$292.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−0.545%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3835	+0.221%	$33.4M	$61.0M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3770	+0.072%	$52.8M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.3874	+0.310%	$71.8M	$126.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3607	−0.300%	$8.8M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3652	−0.198%	$255K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3820	+0.186%	$281K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3786	+0.109%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3850	+0.255%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3900	+0.369%	$473K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3720	−0.042%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3756	+0.040%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0102%	8h	4.3673	−0.149%	$1.4M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3793	+0.124%	$204K	$37K	3x	as long as short
BingX NEAR-USDT	+0.0119%	8h	4.3870	+0.301%	—	$143.5M	—	as long as short
MEXC NEAR_USDTshort	+0.0129%	8h	4.3850	+0.255%	$83.4M	$146.2M	200x
Binance NEARUSDT	+0.0133%	8h	4.3895	+0.358%	$267.1M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0250%	8h	4.3850	+0.255%	$13.3M	$32.3M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3867	+0.294%	$2.3M	$16.2M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0201%	1h	4.3735	−0.007%	$235K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0317%	8h	4.3779	+0.093%	$1.0M	$24.6M	2.2x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.3900	+0.369%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0404%	1h	4.3805	+0.152%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0417%	1h	4.3640	−0.225%	$167K	$796K	50x	as long as short
Extended NEAR-USD	+0.0472%	1h	4.3788	+0.112%	$3.7M	$19.3M	25x	as long as short
SoDEX NEAR-USD	+0.0514%	1h	4.3745	+0.015%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0669%	1h	4.3929	+0.436%	$361.2M	$310.6M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0688%	1h	4.3776	+0.086%	$1.3M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0720%	1h	4.3856	+0.269%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0723%	1h	4.3739	long leg	$7.3M	$39.0M	50x
Arcus NEAR-USD	+0.0814%	1h	4.3850	+0.255%	$227K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0825%	1h	4.3787	+0.111%	$2.0M	$11.9M	25x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3790	+0.118%	$401K	$1.4M	10x	as long as short
Lighter NEAR	+0.0912%	1h	4.3935	+0.450%	$17.2M	$25.2M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3931	+0.440%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.3936	+0.452%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3838	+0.227%	$686K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1287%	1h	4.3636	−0.235%	$5K	$12K	10x	as long as short