Funding arb · Price arb /

NEAR

all NEAR markets

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: Kraken Futures against KuCoin+0.052%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as 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 KuCoin Short on Kraken Futures

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)+0.472%+$47 · spread now +0.052%, 7d avg +0.008%

Together, before fees+0.660%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Kraken Futures is 0.045% dearer against KuCoin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.008%.

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	KuCoin NEARUSDTM	4.4140	0.0100	pay 0.0100% / 8h	4h 34m	$54.9M	$46.0M	75x
Short	Kraken Futures PF_NEARUSD	4.4163	0.0588	get 0.0074% / 1h	34m 18s	$8.1M	$39.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.052%Rate

Funding earned: $102.49
Price spread: +0.052% → +0.008%: $4.45
Slippage, 4 orders: −$55.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $29.51
Costs to cover: 0.774%
Break-even: 5.0 days

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: 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 KuCoin live order book, 5 min ago	1.13 bp	22.5 bp −$22	39.4 bp −$394	111.2 bp −$11.1K	doesn't fit
Sell Kraken Futures live order book, 5 min ago	11.65 bp	17.4 bp −$17	20.7 bp −$207	57.4 bp −$5,736	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	−0.062%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.3921	−0.496%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3950	−0.430%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3954	−0.421%	$598K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4101	−0.089%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.185%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4070	−0.159%	$117K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3973	−0.379%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4177	+0.085%	$271.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4140	0.000%	$221.8M	$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	4.4110	−0.068%	$62.6M	$299.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3987	−0.346%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4125	−0.034%	$32.0M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4160	+0.045%	$74.7M	$148.7M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.4140	long leg	$54.9M	$46.0M	75x
Bitget NEARUSDT	+0.0100%	8h	4.4145	+0.011%	$72.5M	$130.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4110	−0.068%	—	$147.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3977	−0.369%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4041	−0.224%	$264K	$978K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4010	−0.295%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4010	−0.295%	$169K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4140	0.000%	$235K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4139	−0.002%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4080	−0.136%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4140	0.000%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4220	+0.181%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4170	+0.068%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3984	−0.353%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4175	+0.079%	$205K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0162%	1h	4.4170	+0.068%	$364.2M	$325.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0217%	1h	4.4168	+0.063%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4180	+0.091%	$13.9M	$32.9M	75x	as long as short
Extended NEAR-USD	+0.0224%	1h	4.4125	−0.033%	$4.0M	$19.6M	25x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.4078	−0.140%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.4148	+0.019%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4102	−0.086%	$240K	—	100x	as long as short
Lighter RH NEAR	+0.0480%	1h	4.4203	+0.143%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0551%	1h	4.4115	−0.058%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4110	−0.068%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0588%	1h	4.4163	+0.052%	$8.1M	$39.9M	50x
Phoenix NEAR	+0.0794%	1h	4.4338	+0.449%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0896%	1h	4.4233	+0.210%	$17.8M	$26.3M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0905%	1h	4.4191	+0.116%	$1.9M	$6.9M	25x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4086	−0.122%	$561K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1539%	1h	4.4227	+0.197%	$5K	$12K	10x	as long as short