Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.232%

Price spread now: Lighter against KuCoin+0.107%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs+$40as in the Funding arb table

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

costs, in and out, $10k−$440.442% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.845%+$85 on $10k

Price spread, last 7 days+0.077%+$8 · spread now +0.107%, 7d avg +0.143%

Together, before fees+0.922%+ Points / potential airdropLighter: Season 3 · farm board+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.036% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.107% now, against its 7-day average of +0.143%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.3570	0.0100	pay 0.0100% / 8h	3m 31s	$52.8M	$46.0M	75x
Short	Lighter NEAR	4.3617	0.0560	get 0.0070% / 1h	3m 31s	$17.2M	$25.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.107%Rate

Funding earned: $96.6
Price spread: +0.107% → +0.143%: −$3.57
Slippage, 4 orders: −$32.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $48.78
Costs to cover: 0.442%
Break-even: 3.5 days

Slippage from KuCoin: live order book, 6 min ago; Lighter: 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 KuCoin live order book, 6 min ago	2.29 bp	14.5 bp −$14	31.5 bp −$315	112.5 bp −$11.3K	doesn't fit
Sell Lighter live order book, 5 min ago	2.37 bp	7.1 bp −$7	15.3 bp −$153	70.9 bp −$7,092	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	4.3529	−0.094%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3462	−0.248%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3591	+0.049%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3440	−0.299%	$7.2M	$38.6M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.958%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3570	0.000%	$114K	$499K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3570	0.000%	$219.6M	$430.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3520	−0.115%	$61.5M	$295.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	+0.413%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3571	+0.002%	$35.9M	$63.2M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3570	long leg	$52.8M	$46.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3546	−0.055%	$72.0M	$127.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3549	−0.048%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3722	+0.350%	$253K	$896K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3681	+0.256%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3680	+0.252%	$167K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3598	+0.064%	$274K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3448	−0.280%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3650	+0.184%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3433	−0.314%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3450	−0.275%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3587	+0.039%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3571	+0.002%	$3.6M	$16.4M	25x	as long as short
Aster NEARUSDT	+0.0105%	8h	4.3536	−0.078%	$2.7M	$4.8M	50x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3461	−0.250%	$202K	$38K	3x	as long as short
Hyperliquid NEAR	+0.0134%	1h	4.3574	+0.009%	$351.1M	$316.2M	10x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.3582	+0.028%	$263.3M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0146%	8h	4.3560	−0.023%	$88.8M	$154.7M	200x	as long as short
HTX NEAR-USDT	+0.0158%	8h	4.3500	−0.161%	$463K	$3.8M	75x	as long as short
BingX NEAR-USDC	+0.0162%	8h	4.3570	0.000%	—	$6.6M	—	as long as short
Kalshi KXNEARPERP	+0.0169%	8h	4.3475	−0.218%	$942K	$25.1M	2.2x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3587	+0.039%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0266%	8h	4.3670	+0.230%	$13.4M	$32.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0342% / S −0.0242%	1h	4.3462	−0.247%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0371%	1h	4.3569	−0.003%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0471%	1h	4.3506	−0.147%	$1.1M	$7.2M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3494	−0.174%	$2.3M	$16.9M	50x	as long as short
Lighter RH NEAR	+0.0496%	1h	4.3543	−0.062%	$1.5M	$6.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0510%	1h	4.3469	−0.232%	$1.9M	$13.1M	25x	as long as short
Lighter NEARshort	+0.0560%	1h	4.3617	+0.107%	$17.2M	$25.4M	15x
Arcus NEAR-USD	+0.0638%	1h	4.3580	+0.023%	$228K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3557	−0.031%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3702	+0.303%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3563	−0.015%	$604K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1125%	1h	4.3624	+0.123%	$5K	$7K	10x	as long as short