Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0467%/8h= +51.1% APRpaid last 24h +0.094%

Price spread now: Arcus against Kalshi+0.048%7-day average +0.028% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Kalshi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.465%+$46 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.048%, 7d avg +0.028%

Together, before fees+0.436%+$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Arcus is 0.020% dearer against Kalshi than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.3789	0.0171	pay 0.0171% / 8h	4h 07m	$972K	$25.0M	2.2x
Short	Arcus NEAR-USD	4.3810	0.0638	get 0.0080% / 1h	7m 56s	$229K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kalshi. 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 KalshibpFee ArcusbpOrdersPrice spread, now +0.048%Rate

Funding earned: $98.04
Price spread: +0.048% → +0.028%: $2
Slippage, 4 orders: −$22.53
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $63.01
Costs to cover: 0.370%
Break-even: 2.5 days

Slippage from Kalshi: live order book, 1 min ago; Arcus: 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 Kalshi live order book, 1 min ago	6.73 bp	11.7 bp −$12	18.3 bp −$183	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	2.28 bp	4.5 bp −$5	7.6 bp −$76	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	4.3770	−0.043%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3751	−0.087%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3787	−0.005%	$164K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0016%	1h	4.3799	+0.022%	$7.3M	$38.6M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.433%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3810	+0.048%	$113K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3750	−0.089%	$221.1M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3740	−0.112%	$61.4M	$296.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−0.089%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3774	−0.034%	$35.9M	$63.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3850	+0.139%	$53.2M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3740	−0.112%	$72.3M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3490	−0.684%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3477	−0.713%	$252K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3514	−0.629%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3440	−0.797%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3807	+0.041%	$278K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3815	+0.059%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3870	+0.185%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3800	+0.025%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3800	+0.025%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3762	−0.063%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3813	+0.054%	$3.6M	$16.5M	25x	as long as short
Aster NEARUSDT	+0.0119%	8h	4.3780	−0.020%	$2.7M	$4.8M	50x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3810	+0.048%	$204K	$38K	3x	as long as short
Hyperliquid NEAR	+0.0138%	1h	4.3795	+0.014%	$353.3M	$315.7M	10x	as long as short
MEXC NEAR_USDT	+0.0154%	8h	4.3760	−0.066%	$90.6M	$154.3M	200x	as long as short
HTX NEAR-USDT	+0.0154%	8h	4.3890	+0.231%	$467K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0155%	8h	4.3776	−0.030%	$264.5M	$1.09B	75x	as long as short
Kalshi KXNEARPERPlong	+0.0171%	8h	4.3789	long leg	$972K	$25.0M	2.2x
BingX NEAR-USDC	+0.0171%	8h	4.3770	−0.043%	—	$6.6M	—	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3855	+0.151%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0275%	8h	4.3680	−0.249%	$13.3M	$32.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0341% / S −0.0240%	1h	4.3791	+0.004%	$255K	—	100x	as long as short
Nado NEAR-PERP	+0.0362%	1h	4.3761	−0.065%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.3871	+0.187%	$1.1M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3773	−0.037%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.3855	+0.151%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0536%	1h	4.3863	+0.169%	$17.3M	$25.4M	15x	as long as short
Arcus NEAR-USDshort	+0.0638%	1h	4.3810	+0.048%	$229K	$1.5M	10x
Pacifica NEAR	+0.0949%	1h	4.3788	−0.003%	$413K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3782	−0.016%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3817	+0.063%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1100%	1h	4.3632	−0.358%	$5K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1485%	1h	4.3873	+0.192%	$1.9M	$13.1M	25x	as long as short