Funding you earn now, next payment 06:00 UTC+0.0404%/8h= +44.3% APRnext payment +$0.51 per $10,000 · paid last 24h −0.020%
Price spread now: Phoenix against Hyperliquid+0.160%7-day average +0.107% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$350.353% of the position
Funding, last 7 days+0.338%+$34 on $10k
+Price spread, last 7 days+0.014%+$1 · spread now +0.160%, 7d avg +0.107%
=Together, before fees+0.352%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phoenix is 0.053% dearer against Hyperliquid than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.107%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid NEAR | 4.4919 | 0.0599 | pay 0.0075% / 1h | 42m 53s | $369.6M | $309.7M | 10x |
| Short | Phoenix NEAR | 4.4991 | 0.1003 | get 0.0125% / 1h | 42m 53s | $1.9M | $2.5M | 10x |
Hyperliquid NEAR
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $84.93
- Price spread: +0.160% → +0.107%
- $5.33
- Slippage, 4 orders
- −$19.25
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $55.01
- Costs to cover
- 0.353%
- Break-even
- 2.5 days
Slippage from Hyperliquid: live order book, 11 min ago; Phoenix: 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 Hyperliquid live order book, 11 min ago | 0.11 bp | 6.2 bp −$6 | 11.6 bp −$116 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 0.89 bp | 11.7 bp −$12 | 29.8 bp −$298 | 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 | 4.4873 | −0.103% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4827 | −0.204% | $110K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4851 | −0.151% | $169K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −7.812% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4880 | −0.087% | $111K | $493K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4950 | +0.069% | $231.3M | $429.5M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4930 | +0.024% | $63.7M | $301.4M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4366 | −1.231% | $253K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4942 | +0.051% | $35.1M | $60.2M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.5000 | +0.180% | $53.8M | $45.9M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
KuCoin NEARUSDTMShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NEARUSDT | +0.0100% | 8h | 4.4964 | +0.100% | $74.5M | $126.7M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4687 | −0.516% | $9.0M | $18.5M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4779 | −0.311% | $262K | $967K | 20x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4740 | −0.398% | $168K | $804K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4886 | −0.073% | $282K | $4.0M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4875 | −0.098% | $59K | $235K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4920 | +0.002% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4960 | +0.091% | $466K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4830 | −0.198% | $3.7M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0106% | 8h | 4.4855 | −0.143% | $32K | $585 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0123% | 8h | 4.4756 | −0.363% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0128% | 1h | 4.4855 | −0.142% | $209K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0182% | 8h | 4.4950 | +0.069% | — | $143.9M | — | as long as short |
| MEXC NEAR_USDT | +0.0184% | 8h | 4.5000 | +0.180% | $86.2M | $145.5M | 200x | as long as short |
| Binance NEARUSDT | +0.0185% | 8h | 4.4960 | +0.091% | $273.7M | $1.09B | 75x | as long as short |
| SoDEX NEAR-USD | +0.0199% | 1h | 4.4835 | −0.187% | $5K | $52K | 10x | as long as short |
| Kalshi KXNEARPERP | +0.0295% | 8h | 4.4847 | −0.160% | $1.1M | $25.0M | 2.2x | as long as short |
| BloFin NEAR-USDT | +0.0305% | 8h | 4.4830 | −0.198% | $13.6M | $33.1M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0317% / S −0.0201% | 1h | 4.4847 | −0.161% | $240K | — | 100x | as long as short |
| Extended NEAR-USD | +0.0328% | 1h | 4.4965 | +0.103% | $3.7M | $18.9M | 25x | as long as short |
| Aster NEARUSDT | +0.0338% | 8h | 4.4980 | +0.136% | $2.9M | $5.0M | 50x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0424% | 1h | 4.4893 | −0.058% | $2.3M | $16.5M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0496% | 1h | 4.4891 | −0.062% | $13K | $7K | 10x | as long as short |
| Nado NEAR-PERP | +0.0540% | 1h | 4.4829 | −0.199% | $1.8M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0578% | 1h | 4.4916 | −0.007% | $1.3M | $6.5M | 20x | as long as short |
| Hyperliquid NEARlong | +0.0599% | 1h | 4.4919 | long leg | $369.6M | $309.7M | 10x | |
| Kraken Futures PF_NEARUSD | +0.0651% | 1h | 4.4812 | −0.238% | $7.4M | $38.3M | 50x | as long as short |
| Arcus NEAR-USD | +0.0880% | 1h | 4.4910 | −0.020% | $228K | $1.6M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0954% | 1h | 4.4890 | −0.065% | $1.9M | $12.3M | 25x | as long as short |
| Lighter RH NEAR | +0.1000% | 1h | 4.4884 | −0.078% | $1.5M | $6.7M | 10x | as long as short |
| Phoenix NEARshort | +0.1003% | 1h | 4.4991 | +0.160% | $1.9M | $2.5M | 10x | |
| Lighter NEAR | +0.1056% | 1h | 4.4901 | −0.040% | $17.6M | $24.7M | 15x | as long as short |
| Pacifica NEAR | +0.1187% | 1h | 4.4854 | −0.145% | $413K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1240% | 1h | 4.4726 | −0.429% | $6K | $12K | 10x | as long as short |
| RISEx NEAR/USDC | +0.1259% | 1h | 4.4890 | −0.065% | $678K | $1.4M | 10x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
GRVT NEAR_USDT_Perp
Aevo NEAR-PERP
BingX NEAR-USDT
MEXC NEAR_USDT
Binance NEARUSDT
SoDEX NEAR-USD
Kalshi KXNEARPERP
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
Extended NEAR-USD
Aster NEARUSDT
Coinbase International NEAR-PERP-INTX
01 Exchange NEARUSD
Nado NEAR-PERP
Backpack NEAR_USDC_PERP
Kraken Futures PF_NEARUSD
Arcus NEAR-USD
Deribit NEAR_USDC-PERPETUAL
Lighter RH NEAR
Lighter NEAR
Pacifica NEAR
Aftermath Perps NEARUSD
RISEx NEAR/USDC