Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.045%

Price spread now: KuCoin against Coinbase International+0.092%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$590.592% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 3 days (all we have)−0.270%−$27 · spread now +0.092%, 7d avg +0.045%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.047% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.3700	−0.0016	get 0.0002% / 1h	47m 41s	$2.2M	$14.1M	50x
Short	KuCoin NEARUSDTM	4.3740	0.0100	get 0.0100% / 8h	5h 47m	$54.7M	$44.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.092%Rate

Funding earned: $24.36
Price spread: +0.092% → +0.045%: $4.65
Slippage, 4 orders: −$37.23
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$30.22
Costs to cover: 0.592%
Break-even: 15.7 days

Slippage from Coinbase International: live order book, 1 min ago; KuCoin: live order book, 6 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 Coinbase International live order book, 1 min ago	3.89 bp	11.5 bp −$11	18.3 bp −$183	466.8 bp −$46.7K	doesn't fit
Sell KuCoin live order book, 6 min ago	1.14 bp	17.3 bp −$17	41.4 bp −$414	113.0 bp −$11.3K	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	4.3707	+0.016%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXlong	−0.0016%	1h	4.3700	long leg	$2.2M	$14.1M	50x
dYdX NEAR-USD	0.0000%	1h	4.3692	−0.019%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3747	+0.108%	$561K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3708	+0.019%	$198K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.240%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3720	+0.046%	$115K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3718	+0.042%	$413K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3727	+0.062%	$265.8M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3693	−0.016%	$220.8M	$416.6M	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	4.3720	+0.046%	$62.3M	$288.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.098%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3730	+0.069%	$31.5M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3730	+0.069%	$75.4M	$140.0M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.3740	+0.092%	$54.7M	$44.1M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3739	+0.089%	$71.9M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3740	+0.092%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.518%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3800	+0.230%	$268K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+0.481%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3790	+0.206%	$195K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3744	+0.101%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3638	−0.142%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3780	+0.183%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3625	−0.172%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3850	+0.343%	$458K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3630	−0.160%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3686	−0.033%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3724	+0.054%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3645	−0.126%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0195%	8h	4.3640	−0.137%	$3.0M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0254%	1h	4.3657	−0.098%	$1.9M	$4.3M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3707	+0.016%	$256K	—	100x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3725	+0.057%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.3751	+0.117%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3760	+0.137%	$208K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0671%	1h	4.3640	−0.137%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0706%	1h	4.3663	−0.084%	$8.1M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0744%	1h	4.3769	+0.158%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0772%	1h	4.3752	+0.119%	$368.4M	$304.7M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3944	+0.558%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3753	+0.121%	$552K	$1.3M	10x	as long as short
Lighter NEAR	+0.1232%	1h	4.3801	+0.231%	$17.5M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1730%	1h	4.3793	+0.212%	$6K	$12K	10x	as long as short