Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0924%/8h= +101.2% APRpaid last 24h +0.163%

Price spread now: RISEx against Kalshi−0.074%7-day average +0.026% · 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−$49as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.495%+$49 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.074%, 7d avg +0.026%

Together, before fees+0.499%+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.099% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of +0.026%). If the spread goes back, that is −$10 on $10k: about 9 hours of funding at the current rate (+$28 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXNEARPERP	4.5180	0	get 0.0000% / 8h	1h 23m	$684K	$20.2M	2.2x
Short	RISEx NEAR/USDC	4.5147	0.0924	get 0.0116% / 1h	23m 08s	$544K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.074%Rate

Funding earned: $194.14
Price spread: −0.074% → +0.026%: −$9.94
Slippage, 4 orders: −$23.15
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $145.05
Costs to cover: 0.392%
Break-even: 1.8 days

Slippage from Kalshi: live order book, 1 min ago; RISEx: 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	9.19 bp	14.2 bp −$14	21.0 bp −$210	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	2.39 bp	5.4 bp −$5	17.6 bp −$176	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	4.5172	−0.017%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.5279	+0.219%	$2.3M	$15.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.5060	−0.265%	$111K	$70K	10x	as long as short
Kalshi KXNEARPERPlong	0.0000%	8h	4.5180	long leg	$684K	$20.2M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.5258	+0.173%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.344%	$578	$302K	12x	as long as short
Phemex NEARUSDT	+0.0083%	8h	4.5280	+0.221%	$4.0M	$8.1M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5120	−0.133%	$117K	$492K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.5096	−0.185%	$426K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5315	+0.298%	$275.9M	$1.09B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.5202	+0.049%	$227.6M	$421.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5200	+0.044%	$65.0M	$302.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4902	−0.615%	$256K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5230	+0.111%	$32.7M	$63.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5230	+0.111%	$79.2M	$144.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5280	+0.221%	$56.8M	$44.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5202	+0.049%	$74.4M	$127.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.5230	+0.111%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4586	−1.315%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4903	−0.612%	$269K	$986K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4439	−1.640%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4930	−0.553%	$175K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5195	+0.033%	$222K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5302	+0.270%	$62K	$207K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5350	+0.376%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5290	+0.243%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5260	+0.177%	$472K	$4.0M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.5153	−0.060%	$33K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5273	+0.206%	$3.9M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5367	+0.415%	$211K	$34K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5280	+0.221%	$13.9M	$33.3M	75x	as long as short
Aster NEARUSDT	+0.0265%	8h	4.5271	+0.201%	$3.1M	$5.4M	50x	as long as short
Nado NEAR-PERP	+0.0353%	1h	4.5092	−0.194%	$1.9M	$3.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0360% / S −0.0248%	1h	4.5266	+0.191%	$272K	—	100x	as long as short
01 Exchange NEARUSD	+0.0360%	1h	4.5150	−0.066%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.5180	0.000%	$220K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0587%	1h	4.5296	+0.257%	$1.4M	$6.6M	20x	as long as short
Lighter RH NEAR	+0.0680%	1h	4.5351	+0.378%	$1.7M	$7.0M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0680%	1h	4.5288	+0.239%	$8.4M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0681%	1h	4.5284	+0.230%	$377.9M	$310.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4889	−0.644%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDCshort	+0.0924%	1h	4.5147	−0.074%	$544K	$1.3M	10x
Deribit NEAR_USDC-PERPETUAL	+0.1052%	1h	4.5357	+0.392%	$2.0M	$4.4M	25x	as long as short
Lighter NEAR	+0.1272%	1h	4.5365	+0.410%	$18.2M	$26.1M	15x	as long as short
Aftermath Perps NEARUSD	+0.1544%	1h	4.4689	−1.087%	$6K	$12K	10x	as long as short