Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.047%

Price spread now: Coinbase International against KuCoin−0.012%7-day average −0.046% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$570.565% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 3 days (all we have)+0.232%+$23 · spread now −0.012%, 7d avg −0.046%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.034% dearer against KuCoin than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.046%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.2750	0.0100	pay 0.0100% / 8h	13m 14s	$55.8M	$43.5M	75x
Short	Coinbase International NEAR-PERP-INTX	4.2745	−0.0072	pay 0.0009% / 1h	13m 14s	$2.2M	$13.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$36.12
Price spread: −0.012% → −0.046%: $3.43
Slippage, 4 orders: −$34.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$89.21
Costs to cover: 0.565%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Coinbase International: live order book, 6 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 KuCoin live order book, 6 min ago	1.17 bp	18.7 bp −$19	42.7 bp −$427	101.7 bp −$10.2K	doesn't fit
Sell Coinbase International live order book, 6 min ago	6.66 bp	14.3 bp −$14	21.1 bp −$211	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	4.2711	−0.092%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXshort	−0.0072%	1h	4.2745	−0.012%	$2.2M	$13.1M	50x
dYdX NEAR-USD	0.0000%	1h	4.2663	−0.204%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2667	−0.194%	$366K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2778	+0.065%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.135%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0047%	8h	4.2759	+0.021%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0052%	8h	4.2740	−0.023%	$217.8M	$422.6M	75x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.2685	−0.152%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2690	−0.140%	$109K	$495K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2666	−0.196%	$31K	$647	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2788	+0.089%	$57K	$194K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2700	−0.118%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2675	−0.174%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2742	−0.019%	$253.1M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2760	+0.023%	$60.7M	$286.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2680	−0.164%	$195K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.468%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2737	−0.030%	$30.9M	$60.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2730	−0.047%	$78.1M	$142.4M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.2750	long leg	$55.8M	$43.5M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2742	−0.019%	$70.9M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2750	0.000%	—	$140.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2693	−0.133%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2783	+0.077%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2690	−0.140%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2731	−0.044%	$196K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2780	+0.070%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2755	+0.012%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2710	−0.094%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2723	−0.063%	$3.9M	$16.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2770	+0.047%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2790	+0.094%	$7.6M	$37.6M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2710	−0.094%	$13.1M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.2823	+0.171%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2765	+0.036%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2688	−0.144%	$418K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0442%	1h	4.2575	−0.409%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.332%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0475%	1h	4.2815	+0.152%	$1.9M	$2.5M	25x	as long as short
Hyperliquid NEAR	+0.0673%	1h	4.2780	+0.070%	$365.5M	$301.0M	10x	as long as short
Nado NEAR-PERP	+0.0674%	1h	4.2710	−0.092%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0774%	8h	4.2790	+0.094%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1115%	1h	4.2758	+0.019%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1696%	1h	4.2877	+0.297%	$16.6M	$24.2M	15x	as long as short