Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0607%/8h= −66.5% APRpaid last 24h −0.084%

Price spread now: edgeX against Kraken Futures+0.150%76s7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.637% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.443%−$44 · spread now +0.150%, 7d avg −0.037%

Together, before fees−0.586%+ Points / potential airdropedgeX: Active · farm board−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.187% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.150% now, against its 7-day average of −0.037%): +$19 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.144% in total) that is about 9.1 days. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.144% in total (about -7.5% 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	4.3564	0.0707	pay 0.0088% / 1h	46m 06s	$8.1M	$41.0M	50x
Short	edgeX NEARUSDC	4.3629	0.0100	get 0.0050% / 4h	1h 46m	$262K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.150%Rate

Funding earned: −$127.51
Price spread: +0.150% → −0.037%: $18.67
Slippage, 4 orders: −$44.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$172.56
Costs to cover: 0.637%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; edgeX: live order book, 8 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, 3 min ago	12.59 bp	21.3 bp −$21	24.7 bp −$247	52.7 bp −$5,265	6101.2 bp −$3.05M
Sell edgeX live order book, 8 min ago	6.86 bp	12.2 bp −$12	32.7 bp −$327	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	4.3545	−0.043%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3530	−0.077%	$2.2M	$14.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3472	−0.210%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3608	+0.102%	$567K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3560	−0.007%	$197K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.943%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3540	−0.054%	$114K	$483K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3470	−0.215%	$410K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3481	−0.190%	$264.3M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3489	−0.171%	$219.3M	$416.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3500	−0.146%	$62.0M	$287.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3657	+0.214%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3487	−0.176%	$31.3M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3530	−0.077%	$75.0M	$140.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3530	−0.077%	$54.7M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3491	−0.166%	$71.4M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3520	−0.100%	—	$144.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3557	−0.014%	$8.4M	$18.3M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.3629	+0.150%	$262K	$1.0M	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3910	+0.795%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3590	+0.061%	$205K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3592	+0.065%	$60K	$191K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3630	+0.153%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3550	−0.031%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3690	+0.290%	$457K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3520	−0.100%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3468	−0.219%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3548	−0.036%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3585	+0.049%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0194%	8h	4.3566	+0.005%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3510	−0.123%	—	$30.3M	75x	as long as short
ApeX Omni NEARUSDT	+0.0231%	1h	4.3580	+0.038%	$194K	$778K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0348% / S −0.0244%	1h	4.3562	−0.004%	$255K	—	100x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.3525	−0.088%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3530	−0.077%	$207K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0411%	1h	4.3525	−0.088%	$1.9M	$3.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0639%	1h	4.3547	−0.038%	$1.5M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0707%	1h	4.3564	long leg	$8.1M	$41.0M	50x
Lighter RH NEAR	+0.0712%	1h	4.3582	+0.042%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0731%	1h	4.3563	−0.001%	$366.7M	$304.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0783%	1h	4.3623	+0.137%	$1.9M	$4.3M	25x	as long as short
Phoenix NEAR	+0.0855%	1h	4.3669	+0.242%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3530	−0.077%	$550K	$1.3M	10x	as long as short
Lighter NEAR	+0.1312%	1h	4.3615	+0.118%	$17.4M	$25.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.1752%	1h	4.3691	+0.293%	$6K	$12K	10x	as long as short