Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0926%/8h= −101.4% APRpaid last 24h −0.170%

Price spread now: Kalshi against RISEx−0.040%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on RISEx Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.506%−$51 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.040%, 7d avg −0.027%

Together, before fees−0.404%−$40 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$28 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx NEAR/USDC	4.4225	0.0926	pay 0.0116% / 1h	32m 49s	$563K	$1.4M	10x
Short	Kalshi KXNEARPERP	4.4207	0	get 0.0000% / 8h	32m 49s	$596K	$22.0M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against RISEx. 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 RISExbpFee KalshibpOrdersPrice spread, now −0.040%Rate

Funding earned: −$194.39
Price spread: −0.040% → −0.027%: −$1.36
Slippage, 4 orders: −$19.31
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$231.06
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Kalshi: 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 RISEx live order book, 1 min ago	2.63 bp	5.6 bp −$6	13.3 bp −$133	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	7.02 bp	12.0 bp −$12	19.0 bp −$190	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	4.4190	−0.078%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4166	−0.133%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4128	−0.219%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4207	−0.040%	$596K	$22.0M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4230	+0.011%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.365%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4190	−0.079%	$117K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4156	−0.155%	$422K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4260	+0.080%	$271.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4221	−0.008%	$222.1M	$424.3M	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	4.4220	−0.011%	$62.8M	$300.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3987	−0.537%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4262	+0.084%	$32.1M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4290	+0.148%	$74.4M	$148.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4300	+0.170%	$55.1M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4230	+0.012%	$72.7M	$130.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4230	+0.012%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3977	−0.560%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4132	−0.209%	$265K	$978K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4140	−0.192%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4140	−0.192%	$170K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4220	−0.011%	$234K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4254	+0.066%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4370	+0.328%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4250	+0.057%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4340	+0.261%	$460K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4300	+0.170%	$3.9M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4159	−0.148%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4281	+0.128%	$206K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0183%	1h	4.4322	+0.220%	$365.4M	$325.3M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4340	+0.261%	$14.0M	$33.0M	75x	as long as short
Extended NEAR-USD	+0.0232%	1h	4.4249	+0.055%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0233%	1h	4.4312	+0.197%	$1.4M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.4204	−0.047%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0291%	8h	4.4300	+0.170%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4218	−0.014%	$240K	—	100x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.4323	+0.222%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0543%	1h	4.4165	−0.135%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4240	+0.034%	$222K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0587%	1h	4.4269	+0.099%	$8.2M	$39.9M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4203	−0.049%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0896%	1h	4.4350	+0.283%	$17.9M	$26.3M	15x	as long as short
RISEx NEAR/USDClong	+0.0926%	1h	4.4225	long leg	$563K	$1.4M	10x
Deribit NEAR_USDC-PERPETUAL	+0.0948%	1h	4.4286	+0.138%	$1.9M	$6.9M	25x	as long as short
Aftermath Perps NEARUSD	+0.1525%	1h	4.4268	+0.098%	$6K	$12K	10x	as long as short