NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Kalshi against Phemex−0.132%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 4 days (all we have)−1.000%−$100 · spread now −0.132%, 7d avg −0.043%

Together, before fees−1.144%−$114 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 0.088% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4770	0.0100	pay 0.0100% / 8h	5h 25m	$3.9M	$8.1M	50x
Short	Kalshi KXNEARPERP	4.4711	0	get 0.0000% / 8h	1h 25m	$622K	$20.1M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.132%Rate

Funding earned: −$21
Price spread: −0.132% → −0.043%: −$8.84
Slippage, 4 orders: −$45.25
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$97.09
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Kalshi: live order book, 3 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 Phemex live order book, 3 min ago	9.03 bp	21.8 bp −$22	53.8 bp −$538	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	5.42 bp	10.8 bp −$11	19.5 bp −$195	doesn't fit	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	4.4902	+0.294%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4769	−0.002%	$2.3M	$14.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4836	+0.147%	$111K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4711	−0.132%	$622K	$20.1M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4922	+0.340%	$207K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.505%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4900	+0.290%	$117K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4834	+0.144%	$423K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4930	+0.357%	$273.6M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4900	+0.290%	$226.2M	$420.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4900	+0.290%	$64.4M	$299.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	−0.780%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4883	+0.252%	$32.5M	$63.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4950	+0.402%	$78.2M	$143.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4940	+0.380%	$56.3M	$44.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4909	+0.310%	$73.9M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4950	+0.402%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4586	−0.411%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4330	−0.982%	$266K	$985K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4439	−0.739%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4320	−1.005%	$173K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4943	+0.386%	$223K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4585	−0.413%	$61K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4650	−0.268%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4759	−0.025%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4890	+0.268%	$467K	$4.0M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4770	long leg	$3.9M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4879	+0.243%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4919	+0.332%	$3.9M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4598	−0.383%	$208K	$34K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4420	−0.782%	$13.7M	$31.6M	75x	as long as short
Aster NEARUSDT	+0.0247%	8h	4.4851	+0.182%	$3.1M	$5.4M	50x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.4979	+0.467%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0355% / S −0.0246%	1h	4.4916	+0.326%	$265K	—	100x	as long as short
Nado NEAR-PERP	+0.0369%	1h	4.4890	+0.269%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4970	+0.447%	$214K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0545%	1h	4.4815	+0.101%	$1.4M	$6.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0580%	1h	4.4631	−0.310%	$1.9M	$4.4M	25x	as long as short
Hyperliquid NEAR	+0.0673%	1h	4.4973	+0.453%	$374.3M	$310.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0687%	1h	4.4817	+0.105%	$8.3M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0688%	1h	4.4846	+0.170%	$1.7M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4889	+0.266%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4968	+0.442%	$543K	$1.3M	10x	as long as short
Lighter NEAR	+0.1264%	1h	4.4916	+0.325%	$18.0M	$26.0M	15x	as long as short
Aftermath Perps NEARUSD	+0.1573%	1h	4.4432	−0.756%	$6K	$12K	10x	as long as short