Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.036%

Price spread now: Kalshi against Pacifica−0.317%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.241%−$24 on $10k

Price spread, last 4 days (all we have)+1.005%+$100 · spread now −0.317%, 7d avg −0.015%

Together, before fees+0.763%+ Points / potential airdropPacifica: Active · farm board+$76 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.303% cheaper against Pacifica than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica NEAR	4.3998	0.0100	pay 0.0013% / 1h	52m 14s	$415K	$1.2M	10x
Short	Kalshi KXNEARPERP	4.3858	0	get 0.0000% / 8h	1h 52m	$550K	$19.4M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now −0.317%Rate

Funding earned: −$21
Price spread: −0.317% → −0.015%: −$30.26
Slippage, 4 orders: −$35.85
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$105.11
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Kalshi: 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 Pacifica live order book, 2 min ago	3.54 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	7.88 bp	12.9 bp −$13	19.6 bp −$196	doesn't fit	doesn't fit

NEAR on 44 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	4.4044	+0.107%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3764	−0.531%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3981	−0.039%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.3858	−0.317%	$550K	$19.4M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4046	+0.111%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.881%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4060	+0.142%	$116K	$488K	50x	as long as short
Pacifica NEARlong	+0.0100%	1h	4.3998	long leg	$415K	$1.2M	10x
Binance NEARUSDT	+0.0100%	8h	4.4090	+0.210%	$267.7M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4080	+0.187%	$222.5M	$416.5M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4050	+0.119%	$62.7M	$290.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.774%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4056	+0.133%	$31.7M	$61.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4080	+0.187%	$76.3M	$139.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4100	+0.233%	$54.7M	$43.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4041	+0.099%	$72.3M	$125.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4040	+0.096%	—	$144.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3808	−0.431%	$8.4M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3659	−0.771%	$267K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3657	−0.774%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3610	−0.881%	$194K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4090	+0.210%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4058	+0.137%	$61K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4080	+0.187%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4065	+0.153%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.369%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4060	+0.142%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4009	+0.026%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4037	+0.090%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4079	+0.185%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0193%	8h	4.4100	+0.233%	$3.0M	$5.5M	50x	as long as short
Nado NEAR-PERP	+0.0325%	1h	4.4055	+0.130%	$1.9M	$3.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0243%	1h	4.4024	+0.060%	$258K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4104	+0.242%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4070	+0.165%	$210K	$1.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0522%	1h	4.4095	+0.221%	$1.9M	$4.3M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0628%	1h	4.3819	−0.406%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0699%	1h	4.4104	+0.243%	$8.2M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0808%	1h	4.4136	+0.315%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0838%	1h	4.4131	+0.303%	$371.6M	$304.0M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3900	−0.222%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4073	+0.172%	$556K	$1.3M	10x	as long as short
Lighter NEAR	+0.1008%	1h	4.4171	+0.393%	$17.6M	$25.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1665%	1h	4.3755	−0.551%	$6K	$12K	10x	as long as short