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: Phemex against Kalshi−0.130%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$740.743% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.269%+$27 · spread now −0.130%, 7d avg +0.046%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.176% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.130% now, against its 7-day average of +0.046%). If the spread goes back, that is −$18 on $10k: about 5.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.3747	0	get 0.0000% / 8h	1h 49m	$545K	$19.3M	2.2x
Short	Phemex NEARUSDT	4.3690	0.0100	get 0.0100% / 8h	5h 49m	$3.8M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.130%Rate

Funding earned: $21
Price spread: −0.130% → +0.046%: −$17.61
Slippage, 4 orders: −$52.34
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$70.94
Costs to cover: 0.743%
Break-even: 30.6 days

Slippage from Kalshi: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	7.88 bp	12.9 bp −$13	19.9 bp −$199	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.57 bp	24.4 bp −$24	61.1 bp −$611	doesn't fit	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	4.3538	−0.478%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3651	−0.219%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3622	−0.285%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.3747	long leg	$545K	$19.3M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3546	−0.460%	$197K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.342%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3610	−0.313%	$114K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3683	−0.145%	$412K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3588	−0.363%	$264.6M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3545	−0.462%	$220.1M	$416.5M	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	4.3520	−0.519%	$62.1M	$287.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	−0.206%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3560	−0.427%	$31.4M	$61.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3570	−0.405%	$75.1M	$139.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3600	−0.336%	$54.4M	$44.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3544	−0.464%	$71.5M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3560	−0.427%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3926	+0.410%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3800	+0.122%	$268K	$994K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+0.373%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3790	+0.098%	$195K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3606	−0.322%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3559	−0.430%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3700	−0.107%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3675	−0.165%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3800	+0.121%	$458K	$3.9M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3690	−0.130%	$3.8M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3644	−0.236%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3637	−0.251%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3691	−0.127%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0198%	8h	4.3649	−0.225%	$3.0M	$5.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0231%	1h	4.3689	−0.133%	$1.9M	$4.3M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0349% / S −0.0244%	1h	4.3643	−0.237%	$257K	—	100x	as long as short
01 Exchange NEARUSD	+0.0400%	1h	4.3689	−0.133%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3700	−0.107%	$208K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0423%	1h	4.3539	−0.475%	$1.9M	$3.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0670%	1h	4.3717	−0.069%	$1.4M	$6.4M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0705%	1h	4.3690	−0.130%	$8.1M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0752%	1h	4.3700	−0.107%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0773%	1h	4.3617	−0.297%	$367.4M	$304.5M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3944	+0.450%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3677	−0.159%	$551K	$1.3M	10x	as long as short
Lighter NEAR	+0.1040%	1h	4.3733	−0.033%	$17.5M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1703%	1h	4.3758	+0.026%	$6K	$12K	10x	as long as short