Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0488%/8h= −53.4% APRpaid last 24h −0.095%

Price spread now: KuCoin against Kraken Futures+0.038%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$770.774% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)−0.562%−$56 · spread now +0.038%, 7d avg −0.008%

Together, before fees−0.750%−$75 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.046% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.008%): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.188% in total) that is about 41 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% 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	4.4163	0.0588	pay 0.0074% / 1h	34m 06s	$8.1M	$39.9M	50x
Short	KuCoin NEARUSDTM	4.4180	0.0100	get 0.0100% / 8h	4h 34m	$54.9M	$46.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$102.49
Price spread: +0.038% → −0.008%: $4.61
Slippage, 4 orders: −$55.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$175.32
Costs to cover: 0.774%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; KuCoin: 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	11.65 bp	17.2 bp −$17	20.0 bp −$200	55.9 bp −$5,589	6588.1 bp −$3.29M
Sell KuCoin live order book, 5 min ago	1.13 bp	20.3 bp −$20	41.1 bp −$411	105.7 bp −$10.6K	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	4.4113	−0.114%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3921	−0.548%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3950	−0.482%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3954	−0.474%	$598K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4101	−0.141%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.234%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4070	−0.211%	$117K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3973	−0.431%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4207	+0.100%	$271.3M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4169	+0.013%	$221.9M	$424.3M	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	4.4160	−0.007%	$62.7M	$300.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3987	−0.398%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4141	−0.050%	$32.0M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4170	+0.016%	$74.3M	$148.8M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4180	+0.038%	$54.9M	$46.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.4144	−0.043%	$72.5M	$130.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4140	−0.052%	—	$147.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3977	−0.421%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4041	−0.276%	$264K	$978K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4010	−0.347%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4010	−0.347%	$169K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4140	−0.052%	$235K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4139	−0.055%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4080	−0.188%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4140	−0.052%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4220	+0.129%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4170	+0.016%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3984	−0.405%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4175	+0.027%	$205K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0165%	1h	4.4202	+0.088%	$364.4M	$325.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0220%	1h	4.4191	+0.063%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4180	+0.038%	$13.9M	$32.9M	75x	as long as short
Extended NEAR-USD	+0.0224%	1h	4.4125	−0.085%	$4.0M	$19.6M	25x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.4078	−0.193%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.4161	−0.005%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4102	−0.138%	$240K	—	100x	as long as short
Lighter RH NEAR	+0.0480%	1h	4.4203	+0.090%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0551%	1h	4.4115	−0.110%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4110	−0.120%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSDlong	+0.0588%	1h	4.4163	long leg	$8.1M	$39.9M	50x
Phoenix NEAR	+0.0794%	1h	4.4338	+0.396%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0896%	1h	4.4233	+0.157%	$17.8M	$26.3M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0905%	1h	4.4191	+0.063%	$1.9M	$6.9M	25x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4086	−0.174%	$561K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1539%	1h	4.4227	+0.145%	$5K	$12K	10x	as long as short