Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.100%

Price spread now: Kalshi against Arcus−0.107%7-day average −0.032% · 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−$43as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Arcus Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.475%−$48 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.107%, 7d avg −0.032%

Together, before fees−0.419%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Kalshi is 0.075% cheaper against Arcus than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.4760	0.0343	pay 0.0043% / 1h	44m 56s	$226K	$1.4M	10x
Short	Kalshi KXNEARPERP	4.4712	0	get 0.0000% / 8h	1h 44m	$841K	$26.1M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Arcus. 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 ArcusbpFee KalshibpOrdersPrice spread, now −0.107%Rate

Funding earned: −$72.03
Price spread: −0.107% → −0.032%: −$7.54
Slippage, 4 orders: −$20.56
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$114.62
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Arcus: 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 Arcus live order book, 2 min ago	3.35 bp	5.6 bp −$6	9.9 bp −$99	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	6.37 bp	11.4 bp −$11	17.4 bp −$174	doesn't fit	doesn't fit

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0237%	1h	4.4672	−0.196%	$7.4M	$36.9M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4684	−0.170%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4725	−0.079%	$110K	$53K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.4712	−0.107%	$841K	$26.1M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4671	−0.199%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.484%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4750	−0.022%	$123K	$504K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4681	−0.177%	$2.6M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4690	−0.156%	$271.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4669	−0.203%	$230.7M	$427.0M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4670	−0.201%	$63.9M	$297.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4750	−0.022%	$267K	$12K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4644	−0.259%	$39.7M	$62.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4690	−0.156%	$76.1M	$168.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4690	−0.156%	$53.1M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4651	−0.244%	$74.1M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4660	−0.223%	—	$76.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4714	−0.104%	$8.9M	$16.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4825	+0.145%	$265K	$871K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4781	+0.046%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4820	+0.134%	$167K	$822K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4723	−0.083%	$274K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4676	−0.188%	$58K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4730	−0.067%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4695	−0.145%	$5K	$34K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4750	−0.022%	$464K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4700	−0.134%	$3.3M	$8.0M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4739	−0.048%	$33K	$245	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4655	−0.234%	$3.7M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4655	−0.235%	$208K	$38K	3x	as long as short
Hyperliquid NEAR	+0.0161%	1h	4.4693	−0.150%	$360.1M	$314.8M	10x	as long as short
01 Exchange NEARUSD	+0.0208%	1h	4.4746	−0.031%	$13K	$4K	10x	as long as short
Nado NEAR-PERP	+0.0219%	1h	4.4704	−0.124%	$1.8M	$3.1M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4700	−0.134%	$12.9M	$32.4M	75x	as long as short
Lighter NEAR	+0.0232%	1h	4.4739	−0.046%	$17.5M	$23.3M	15x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.4742	−0.040%	$1.5M	$5.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0341% / S −0.0226%	1h	4.4650	−0.245%	$262K	—	100x	as long as short
Arcus NEAR-USDlong	+0.0343%	1h	4.4760	long leg	$226K	$1.4M	10x
RISEx NEAR/USDC	+0.0489%	1h	4.4751	−0.020%	$633K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0504%	1h	4.4797	+0.083%	$2.3M	$17.5M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0610%	1h	4.4707	−0.118%	$1.1M	$7.1M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0691%	1h	4.4694	−0.147%	$1.9M	$13.0M	25x	as long as short
Phoenix NEAR	+0.0741%	1h	4.4913	+0.342%	$1.7M	$2.7M	10x	as long as short
Pacifica NEAR	+0.0851%	1h	4.4751	−0.021%	$419K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1125%	1h	4.4817	+0.127%	$6K	$6K	10x	as long as short