Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0616%/8h= −67.5% APRpaid last 24h −0.102%

Price spread now: Bitget against Kraken Futures+0.048%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.048%, 7d avg −0.053%

Together, before fees−0.497%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.101% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.053%): +$10 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.234% in total) that is about 3.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.234% in total (about -12.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NEARUSD	4.4141	0.0716	pay 0.0090% / 1h	4m 17s	$7.3M	$39.1M	50x
Short	Bitget NEARUSDT	4.4162	0.0100	get 0.0100% / 8h	2h 04m	$72.9M	$127.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$129.45
Price spread: +0.048% → −0.053%: $10.13
Slippage, 4 orders: −$29.44
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$170.76
Costs to cover: 0.514%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Bitget: 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 Kraken Futures live order book, 5 min ago	7.54 bp	18.4 bp −$18	22.7 bp −$227	55.3 bp −$5,526	4917.3 bp −$2.46M
Sell Bitget live order book, 5 min ago	0.80 bp	10.5 bp −$11	15.1 bp −$151	30.8 bp −$3,078	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	4.4107	−0.076%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4099	−0.095%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4128	−0.027%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.186%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4170	+0.067%	$117K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4168	+0.062%	$221.9M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4180	+0.089%	$62.3M	$294.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.451%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4143	+0.005%	$33.7M	$61.3M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4190	+0.112%	$53.2M	$46.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDTshort	+0.0100%	8h	4.4162	+0.048%	$72.9M	$127.1M	75x
Variational Omni NEAR	+0.0100%	8h	4.4197	+0.128%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4038	−0.233%	$257K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4185	+0.101%	$272K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4168	+0.062%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	+0.225%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	+0.089%	$468K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4150	+0.021%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4101	−0.090%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0111%	8h	4.4060	−0.183%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4170	+0.067%	$205K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0133%	8h	4.4160	+0.044%	—	$143.6M	—	as long as short
MEXC NEAR_USDT	+0.0142%	8h	4.4160	+0.044%	$83.8M	$146.7M	200x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.4174	+0.075%	$268.5M	$1.09B	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4256	+0.261%	$2.3M	$16.4M	50x	as long as short
BloFin NEAR-USDT	+0.0262%	8h	4.4150	+0.021%	$13.3M	$32.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0311%	8h	4.4137	−0.008%	$1.0M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4133	−0.018%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4169	+0.063%	$2.8M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0391%	1h	4.4135	−0.013%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0434%	1h	4.4030	−0.251%	$168K	$797K	50x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.4132	−0.019%	$3.7M	$19.2M	25x	as long as short
SoDEX NEAR-USD	+0.0493%	1h	4.4145	+0.010%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0678%	1h	4.4170	+0.067%	$363.4M	$311.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0698%	1h	4.4127	−0.031%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0712%	1h	4.4229	+0.200%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0716%	1h	4.4141	long leg	$7.3M	$39.1M	50x
Arcus NEAR-USD	+0.0814%	1h	4.4210	+0.157%	$226K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4124	−0.037%	$404K	$1.4M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.4209	+0.156%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4241	+0.227%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1109%	1h	4.4196	+0.125%	$2.0M	$12.1M	25x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.4206	+0.148%	$1.5M	$7.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.4204	+0.142%	$703K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1247%	1h	4.3901	−0.542%	$5K	$12K	10x	as long as short