Funding arb · Price arb /

NEAR

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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: KuCoin against Lighter−0.261%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

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

Long on Lighter Short on KuCoin

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+0.078%+$8 · spread now −0.261%, 7d avg −0.143%

Together, before fees−0.768%+ Points / potential airdropLighter: Season 3 · farm board−$77 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and KuCoin is 0.119% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.143%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.3684	0.0560	pay 0.0070% / 1h	3m 22s	$17.2M	$25.4M	15x
Short	KuCoin NEARUSDTM	4.3570	0.0100	get 0.0100% / 8h	3m 22s	$52.8M	$46.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.261%Rate

Funding earned: −$96.6
Price spread: −0.261% → −0.143%: −$11.85
Slippage, 4 orders: −$32.24
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$152.7
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; KuCoin: live order book, 6 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 Lighter live order book, 5 min ago	2.37 bp	4.9 bp −$5	11.2 bp −$112	59.9 bp −$5,987	doesn't fit
Sell KuCoin live order book, 6 min ago	2.29 bp	17.8 bp −$18	27.7 bp −$277	99.1 bp −$9,909	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	−0.355%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3462	−0.508%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3591	−0.213%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3621	−0.145%	$7.2M	$38.7M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.206%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3570	−0.261%	$114K	$499K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3600	−0.193%	$219.8M	$430.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3610	−0.170%	$61.4M	$296.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	+0.151%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3562	−0.280%	$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 NEARUSDTMshort	+0.0100%	8h	4.3570	−0.261%	$52.8M	$46.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3618	−0.152%	$72.1M	$127.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3549	−0.309%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3722	+0.088%	$253K	$896K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3681	−0.007%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3680	−0.010%	$167K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3598	−0.197%	$274K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3643	−0.094%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3630	−0.124%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3625	−0.136%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3620	−0.147%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3587	−0.222%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3605	−0.182%	$3.6M	$16.4M	25x	as long as short
Aster NEARUSDT	+0.0105%	8h	4.3580	−0.238%	$2.7M	$4.8M	50x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3630	−0.124%	$203K	$38K	3x	as long as short
Hyperliquid NEAR	+0.0134%	1h	4.3574	−0.252%	$351.1M	$316.2M	10x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.3607	−0.178%	$263.4M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0146%	8h	4.3560	−0.284%	$88.8M	$154.7M	200x	as long as short
BingX NEAR-USDT	+0.0155%	8h	4.3600	−0.193%	—	$83.1M	—	as long as short
HTX NEAR-USDT	+0.0159%	8h	4.3690	+0.013%	$465K	$3.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0169%	8h	4.3521	−0.374%	$940K	$25.1M	2.2x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3587	−0.223%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0264%	8h	4.3630	−0.124%	$13.4M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0342% / S −0.0242%	1h	4.3590	−0.217%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0371%	1h	4.3569	−0.264%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0471%	1h	4.3506	−0.408%	$1.1M	$7.2M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3621	−0.145%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0496%	1h	4.3675	−0.021%	$1.5M	$6.8M	10x	as long as short
Lighter NEARlong	+0.0560%	1h	4.3684	long leg	$17.2M	$25.4M	15x
Arcus NEAR-USD	+0.0638%	1h	4.3580	−0.239%	$228K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3557	−0.292%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3702	+0.041%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3563	−0.277%	$604K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1125%	1h	4.3624	−0.139%	$5K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1355%	1h	4.3690	+0.013%	$1.9M	$13.1M	25x	as long as short