Funding arb · Price arb /

NEAR

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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: Kraken Futures against MEXC−0.254%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

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

Long on MEXC Short on Kraken Futures

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 −0.254%, 7d avg +0.046%

Together, before fees+0.696%+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.300% cheaper against MEXC than usual: you would sell low and buy high (spread −0.254% now, against its 7-day average of +0.046%). If the spread goes back, that is −$30 on $10k: about 40 hours of funding at the current rate (+$18 a day). 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	MEXC NEAR_USDT	4.3850	0.0129	pay 0.0129% / 8h	2h 07m	$83.4M	$146.2M	200x
Short	Kraken Futures PF_NEARUSD	4.3739	0.0723	get 0.0090% / 1h	7m 49s	$7.3M	$39.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.254%Rate

Funding earned: $124.75
Price spread: −0.254% → +0.046%: −$30.01
Slippage, 4 orders: −$24.33
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $60.4
Costs to cover: 0.343%
Break-even: 3.6 days

Slippage from MEXC: live order book, 1 min ago; Kraken Futures: 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 MEXC live order book, 1 min ago	1.14 bp	1.9 bp −$2	5.5 bp −$55	34.8 bp −$3,485	76.5 bp −$38.2K
Sell Kraken Futures live order book, 1 min ago	7.54 bp	12.9 bp −$13	14.9 bp −$149	41.9 bp −$4,187	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	4.3759	−0.208%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3837	−0.031%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3738	−0.255%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.564%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3810	−0.091%	$116K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3883	+0.075%	$219.4M	$420.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3890	+0.091%	$61.9M	$292.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−0.798%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3835	−0.034%	$33.4M	$61.0M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3770	−0.182%	$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	+0.055%	$71.8M	$126.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3607	−0.553%	$8.8M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3652	−0.452%	$255K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3820	−0.068%	$281K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3786	−0.146%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3850	0.000%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3900	+0.114%	$473K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3720	−0.296%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3756	−0.214%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0102%	8h	4.3673	−0.403%	$1.4M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3793	−0.131%	$204K	$37K	3x	as long as short
BingX NEAR-USDT	+0.0119%	8h	4.3870	+0.046%	—	$143.5M	—	as long as short
MEXC NEAR_USDTlong	+0.0129%	8h	4.3850	long leg	$83.4M	$146.2M	200x
Binance NEARUSDT	+0.0133%	8h	4.3895	+0.103%	$267.1M	$1.09B	75x	as long as short
BloFin NEAR-USDT	+0.0250%	8h	4.3850	0.000%	$13.3M	$32.3M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3867	+0.039%	$2.3M	$16.2M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0201%	1h	4.3735	−0.262%	$235K	—	100x	as long as short
Kalshi KXNEARPERP	+0.0317%	8h	4.3779	−0.162%	$1.0M	$24.6M	2.2x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.3900	+0.114%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0404%	1h	4.3805	−0.103%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0417%	1h	4.3640	−0.479%	$167K	$796K	50x	as long as short
Extended NEAR-USD	+0.0472%	1h	4.3788	−0.142%	$3.7M	$19.3M	25x	as long as short
SoDEX NEAR-USD	+0.0514%	1h	4.3745	−0.239%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0669%	1h	4.3929	+0.180%	$361.2M	$310.6M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0688%	1h	4.3776	−0.169%	$1.3M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0720%	1h	4.3856	+0.014%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0723%	1h	4.3739	−0.254%	$7.3M	$39.0M	50x
Arcus NEAR-USD	+0.0814%	1h	4.3850	0.000%	$227K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0825%	1h	4.3787	−0.144%	$2.0M	$11.9M	25x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3790	−0.137%	$401K	$1.4M	10x	as long as short
Lighter NEAR	+0.0912%	1h	4.3935	+0.195%	$17.2M	$25.2M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3931	+0.185%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.3936	+0.196%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3838	−0.028%	$686K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1287%	1h	4.3636	−0.488%	$5K	$12K	10x	as long as short