Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0748%/8h= −81.9% APRpaid last 24h −0.057%

Price spread now: KuCoin against Lighter RH−0.073%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

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

costs, in and out, $10k−$520.523% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.466%−$47 on $10k

Price spread, last 7 days−0.045%−$4 · spread now −0.073%, 7d avg −0.117%

Together, before fees−0.511%+ Points / potential airdropLighter RH: Points live · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.044% dearer against Lighter RH than usual: you sell high and buy low (spread −0.073% now, against its 7-day average of −0.117%): +$4 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.466% in total) that is about 16 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.466% in total (about -24.3% 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	Lighter RH NEAR	4.3592	0.0848	pay 0.0106% / 1h	37m 17s	$1.5M	$7.4M	10x
Short	KuCoin NEARUSDTM	4.3560	0.0100	get 0.0100% / 8h	3h 37m	$54.1M	$46.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$157.08
Price spread: −0.073% → −0.117%: $4.36
Slippage, 4 orders: −$40.25
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$204.97
Costs to cover: 0.523%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; KuCoin: live order book, 2 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 RH live order book, 1 min ago	4.14 bp	6.7 bp −$7	14.4 bp −$144	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.15 bp	19.3 bp −$19	35.4 bp −$354	100.2 bp −$10.0K	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	4.3463	−0.296%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3442	−0.344%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3459	−0.306%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.006%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3531	−0.140%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3450	−0.326%	$109K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3560	−0.073%	$266.6M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3504	−0.202%	$216.3M	$428.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3510	−0.188%	$61.9M	$293.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	−0.440%	$247K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3465	−0.291%	$32.1M	$61.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3550	−0.096%	$73.2M	$144.9M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.3560	−0.073%	$54.1M	$46.2M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3513	−0.181%	$71.4M	$128.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3520	−0.165%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3167	−0.974%	$8.3M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3304	−0.660%	$254K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3290	−0.693%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3280	−0.716%	$166K	$798K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3494	−0.225%	$277K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3534	−0.133%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3520	−0.165%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3570	−0.050%	$473K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3520	−0.165%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3430	−0.371%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3565	−0.062%	$203K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3530	−0.142%	$13.7M	$32.4M	75x	as long as short
Kalshi KXNEARPERP	+0.0234%	8h	4.3449	−0.328%	$759K	$23.3M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3460	−0.302%	$408K	$1.3M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0195%	1h	4.3468	−0.284%	$233K	—	100x	as long as short
Aster NEARUSDT	+0.0324%	8h	4.3532	−0.138%	$2.9M	$5.6M	50x	as long as short
SoDEX NEAR-USD	+0.0392%	1h	4.3515	−0.177%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0517%	1h	4.3550	−0.096%	$1.4M	$6.7M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3505	−0.200%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0593%	1h	4.3450	−0.325%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3500	−0.211%	$213K	$1.6M	10x	as long as short
Hyperliquid NEAR	+0.0632%	1h	4.3499	−0.213%	$356.7M	$317.5M	10x	as long as short
Extended NEAR-USD	+0.0688%	1h	4.3508	−0.193%	$3.8M	$19.9M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0708%	1h	4.3528	−0.146%	$7.6M	$39.4M	50x	as long as short
Lighter RH NEARlong	+0.0848%	1h	4.3592	long leg	$1.5M	$7.4M	10x
Phoenix NEAR	+0.0941%	1h	4.3371	−0.507%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1112%	1h	4.3586	−0.013%	$17.6M	$24.9M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1129%	1h	4.3563	−0.067%	$1.9M	$8.9M	25x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3494	−0.226%	$659K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1546%	1h	4.3395	−0.452%	$5K	$13K	10x	as long as short