Funding you earn now, next payment 08:00 UTC−0.0152%/8h= −16.7% APRnext payment −$1.52 per $10,000 · paid last 24h +0.030%
Price spread now: Phemex against Kalshi−0.052%7-day average +0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$680.680% of the position
Funding, last 7 days+0.144%+$14 on $10k
+Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.052%, 7d avg +0.045%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.097% cheaper against Kalshi than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.045%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.144%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXNEARPERP | 4.4273 | 0.0252 | pay 0.0252% / 8h | 5h 23m | $1.0M | $25.0M | 2.2x |
| Short | Phemex NEARUSDT | 4.4250 | 0.0100 | get 0.0100% / 8h | 1h 23m | $3.6M | $8.2M | 50x |
Kalshi KXNEARPERP
Phemex NEARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kalshi. 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
- −$31.96
- Price spread: −0.052% → +0.045%
- −$9.74
- Slippage, 4 orders
- −$46
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$109.71
- Costs to cover
- 0.680%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 5 min ago; Phemex: 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 Kalshi live order book, 5 min ago | 6.04 bp | 11.0 bp −$11 | 19.4 bp −$194 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 3.42 bp | 23.8 bp −$24 | 54.4 bp −$544 | 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 | 4.4187 | −0.195% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4162 | −0.250% | $109K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4186 | −0.197% | $165K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −6.467% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4250 | −0.052% | $112K | $488K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4183 | −0.203% | $223.9M | $431.1M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4180 | −0.210% | $62.5M | $295.9M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4350 | +0.174% | $253K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4171 | −0.230% | $35.5M | $61.7M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4200 | −0.165% | $53.5M | $46.0M | 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 | 4.4165 | −0.244% | $72.5M | $127.7M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4187 | −0.194% | $8.8M | $18.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4030 | −0.549% | $257K | $915K | 20x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4010 | −0.594% | $166K | $805K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4274 | +0.002% | $291K | $4.1M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4288 | +0.034% | $59K | $236K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4340 | +0.151% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4330 | +0.129% | $465K | $3.9M | 75x | as long as short |
| Phemex NEARUSDTshort | +0.0100% | 8h | 4.4250 | −0.052% | $3.6M | $8.2M | 50x | |
| Paradex NEAR-USD-PERP | +0.0104% | 8h | 4.4179 | −0.212% | $32K | $585 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0108% | 8h | 4.4030 | −0.550% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0136% | 1h | 4.4300 | +0.061% | $206K | $38K | 3x | as long as short |
| Extended NEAR-USD | +0.0176% | 1h | 4.4164 | −0.246% | $3.7M | $18.3M | 25x | as long as short |
| SoDEX NEAR-USD | +0.0190% | 1h | 4.4265 | −0.018% | $5K | $52K | 10x | as long as short |
| BingX NEAR-USDT | +0.0200% | 8h | 4.4180 | −0.210% | — | $144.2M | — | as long as short |
| MEXC NEAR_USDT | +0.0208% | 8h | 4.4220 | −0.120% | $80.6M | $149.0M | 200x | as long as short |
| Binance NEARUSDT | +0.0208% | 8h | 4.4222 | −0.115% | $269.8M | $1.08B | 75x | as long as short |
| Kalshi KXNEARPERPlong | +0.0252% | 8h | 4.4273 | long leg | $1.0M | $25.0M | 2.2x | |
| Aster NEARUSDT | +0.0304% | 8h | 4.4200 | −0.165% | $2.8M | $4.9M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0315% / S −0.0198% | 1h | 4.4250 | −0.052% | $235K | — | 100x | as long as short |
| BloFin NEAR-USDT | +0.0325% | 8h | 4.4330 | +0.129% | $13.8M | $32.8M | 75x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0421% | 1h | 4.4223 | −0.113% | $1.3M | $6.9M | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0424% | 1h | 4.4344 | +0.160% | $2.3M | $16.8M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0448% | 1h | 4.4403 | +0.294% | $13K | $7K | 10x | as long as short |
| Hyperliquid NEAR | +0.0476% | 1h | 4.4229 | −0.099% | $360.8M | $312.6M | 10x | as long as short |
| Nado NEAR-PERP | +0.0567% | 1h | 4.4245 | −0.063% | $1.7M | $3.2M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0659% | 1h | 4.4268 | −0.011% | $7.3M | $38.3M | 50x | as long as short |
| Lighter NEAR | +0.0824% | 1h | 4.4248 | −0.057% | $17.4M | $25.3M | 15x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0835% | 1h | 4.4301 | +0.063% | $1.9M | $13.1M | 25x | as long as short |
| Arcus NEAR-USD | +0.0880% | 1h | 4.4300 | +0.061% | $228K | $1.6M | 10x | as long as short |
| Lighter RH NEAR | +0.0920% | 1h | 4.4247 | −0.059% | $1.5M | $6.7M | 10x | as long as short |
| Phoenix NEAR | +0.1003% | 1h | 4.4297 | +0.054% | $1.8M | $2.5M | 10x | as long as short |
| Pacifica NEAR | +0.1187% | 1h | 4.4205 | −0.154% | $422K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1255% | 1h | 4.4241 | −0.072% | $5K | $12K | 10x | as long as short |
| RISEx NEAR/USDC | +0.1259% | 1h | 4.4285 | +0.027% | $667K | $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
Paradex NEAR-USD-PERP
GRVT NEAR_USDT_Perp
Aevo NEAR-PERP
Extended NEAR-USD
SoDEX NEAR-USD
BingX NEAR-USDT
MEXC NEAR_USDT
Binance NEARUSDT
Aster NEARUSDT
GMX NEAR/USD [ETH-USDC]
BloFin NEAR-USDT
Backpack NEAR_USDC_PERP
Coinbase International NEAR-PERP-INTX
01 Exchange NEARUSD
Hyperliquid NEAR
Nado NEAR-PERP
Kraken Futures PF_NEARUSD
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
Arcus NEAR-USD
Lighter RH NEAR
Phoenix NEAR
Pacifica NEAR
Aftermath Perps NEARUSD
RISEx NEAR/USDC