Funding you earn now, next payment 04:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.185%
Price spread now: Phemex against Hyperliquid−0.018%7-day average −0.119% · you buy dearer than you sell
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$630.628% of the position
Funding, last 7 days−0.444%−$44 on $10k
+Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.018%, 7d avg −0.119%
=Together, before fees−0.282%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.101% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.119%): +$10 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 38 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid NEAR | 4.4608 | 0.0312 | pay 0.0039% / 1h | 49m 48s | $369.7M | $325.2M | 10x |
| Short | Phemex NEARUSDT | 4.4600 | 0.0100 | get 0.0100% / 8h | 4h 49m | $3.8M | $8.4M | 50x |
Hyperliquid NEAR
Phemex NEARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$44.49
- Price spread: −0.018% → −0.119%
- $10.08
- Slippage, 4 orders
- −$41.83
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$97.24
- Costs to cover
- 0.628%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Phemex: live order book, 4 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 Hyperliquid live order book, 4 min ago | 1.12 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 5.58 bp | 23.7 bp −$24 | 48.5 bp −$485 | 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 | 4.4633 | +0.057% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0008% | 1h | 4.4683 | +0.168% | $2.2M | $15.4M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4552 | −0.125% | $110K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.4626 | +0.040% | $611K | $22.2M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4688 | +0.180% | $167K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −7.169% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4670 | +0.139% | $117K | $517K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.4566 | −0.095% | $426K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.4550 | −0.130% | $273.2M | $1.11B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4473 | −0.303% | $222.8M | $424.3M | 75x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4460 | −0.332% | $63.8M | $302.6M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.5100 | +1.103% | $257K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4582 | −0.058% | $32.1M | $62.6M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.4500 | −0.242% | $76.3M | $146.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4590 | −0.040% | $55.2M | $46.2M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.4470 | −0.309% | $73.1M | $130.5M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.4590 | −0.040% | — | $147.6M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4797 | +0.424% | $8.7M | $18.2M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4912 | +0.682% | $269K | $977K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.4926 | +0.712% | $1.5M | $1.4M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4950 | +0.767% | $173K | $792K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4645 | +0.083% | $245K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4685 | +0.173% | $57K | $237K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4760 | +0.341% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.4655 | +0.105% | $8K | $52K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4700 | +0.206% | $465K | $4.0M | 75x | as long as short |
| Phemex NEARUSDTshort | +0.0100% | 8h | 4.4600 | −0.018% | $3.8M | $8.4M | 50x | |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.4582 | −0.059% | $32K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.4711 | +0.230% | $208K | $40K | 3x | as long as short |
| Extended NEAR-USD | +0.0208% | 1h | 4.4560 | −0.108% | $4.0M | $19.6M | 25x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.4840 | +0.520% | $14.2M | $33.6M | 75x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0236% | 1h | 4.4639 | +0.069% | $1.4M | $6.7M | 20x | as long as short |
| 01 Exchange NEARUSD | +0.0296% | 1h | 4.4687 | +0.177% | $13K | $7K | 10x | as long as short |
| Aster NEARUSDT | +0.0307% | 8h | 4.4607 | −0.002% | $3.1M | $5.6M | 50x | as long as short |
| Hyperliquid NEARlong | +0.0312% | 1h | 4.4608 | long leg | $369.7M | $325.2M | 10x | |
| GMX NEAR/USD [ETH-USDC] | L +0.0338% / S −0.0216% | 1h | 4.4688 | +0.179% | $249K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0513% | 1h | 4.4626 | +0.041% | $1.9M | $3.1M | 10x | as long as short |
| Lighter RH NEAR | +0.0528% | 1h | 4.4561 | −0.105% | $1.6M | $7.1M | 10x | as long as short |
| Arcus NEAR-USD | +0.0581% | 1h | 4.4540 | −0.152% | $220K | $1.8M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0581% | 1h | 4.4678 | +0.156% | $8.3M | $40.3M | 50x | as long as short |
| Lighter NEAR | +0.0696% | 1h | 4.4663 | +0.123% | $18.0M | $26.2M | 15x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0757% | 1h | 4.4737 | +0.289% | $2.1M | $6.6M | 25x | as long as short |
| Phoenix NEAR | +0.0794% | 1h | 4.5018 | +0.919% | $1.9M | $2.8M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0926% | 1h | 4.4722 | +0.257% | $565K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1577% | 1h | 4.4863 | +0.573% | $6K | $12K | 10x | as long as short |
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
Extended NEAR-USD
BloFin NEAR-USDT
Backpack NEAR_USDC_PERP
01 Exchange NEARUSD
Aster NEARUSDT
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
Lighter RH NEAR
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
Phoenix NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD