NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0594%/8h= +65.0% APRnext payment +$0.74 per $10,000 · paid last 24h +0.078%

Price spread now: Phoenix against Kraken Futures−0.632%71s7-day average +0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.492% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.554%+$55 on $10k

Price spread, last 3 days (all we have)+0.726%+$73 · spread now −0.632%, 7d avg +0.142%

Together, before fees+1.280%+$128 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.774% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.632% now, against its 7-day average of +0.142%). If the spread goes back, that is −$77 on $10k: about 4.3 days of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.554% in total) that is about 9.8 days. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NEARUSD	4.3121	−0.0130	get 0.0016% / 1h	53m 47s	$7.6M	$37.2M	50x
Short	Phoenix NEAR	4.2848	0.0463	get 0.0058% / 1h	53m 47s	$1.8M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Kraken Futures. 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 Kraken FuturesbpFee PhoenixbpOrdersPrice spread, now −0.632%Rate

Funding earned: $124.69
Price spread: −0.632% → +0.142%: −$77.37
Slippage, 4 orders: −$32.24
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$1.92
Costs to cover: 0.492%
Break-even: 7.1 days

Slippage from Kraken Futures: live order book, 5 min ago; Phoenix: 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 Kraken Futures live order book, 5 min ago	6.68 bp	13.0 bp −$13	16.8 bp −$168	46.5 bp −$4,647	5231.7 bp −$2.62M
Sell Phoenix live order book, 5 min ago	0.93 bp	11.8 bp −$12	22.5 bp −$225	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
Phemex NEARUSDT	−0.1723%	8h	4.3100	−0.048%	$3.9M	$8.5M	50x	as long as short
Bybit NEARUSDT	−0.0236%	8h	4.3010	−0.257%	$219.1M	$419.2M	75x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.2966	−0.358%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSDlong	−0.0130%	1h	4.3121	long leg	$7.6M	$37.2M	50x
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3091	−0.069%	$2.3M	$13.1M	50x	as long as short
01 Exchange NEARUSD	−0.0016%	1h	4.2991	−0.301%	$13K	$7K	10x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3114	−0.016%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3084	−0.085%	$377K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3023	−0.227%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0019%	8h	4.2869	−0.583%	$7.9M	$18.5M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.967%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2980	−0.326%	$111K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3090	−0.071%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3032	−0.206%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3130	+0.022%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3114	−0.016%	$404K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3104	−0.038%	$255.6M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3010	−0.257%	$61.2M	$281.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2990	−0.303%	$197K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2646	−1.100%	$243K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3104	−0.039%	$31.1M	$58.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3100	−0.048%	$79.7M	$138.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3110	−0.025%	$56.3M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3092	−0.066%	$71.5M	$125.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3110	−0.025%	—	$141.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2790	−0.767%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2819	−0.700%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2780	−0.790%	$179K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2989	−0.305%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3150	+0.068%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3090	−0.071%	$4K	$53K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3067	−0.124%	$3.9M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3089	−0.072%	$201K	$28K	3x	as long as short
HTX NEAR-USDT	+0.0154%	8h	4.3170	+0.115%	$459K	$3.6M	75x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2820	−0.697%	$13.0M	$29.3M	75x	as long as short
Hyperliquid NEAR	+0.0338%	1h	4.3150	+0.068%	$368.0M	$299.8M	10x	as long as short
Lighter RH NEAR	+0.0360%	1h	4.3121	+0.001%	$1.6M	$6.8M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0313%	1h	4.3018	−0.238%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3007	−0.262%	$418K	$1.2M	10x	as long as short
Phoenix NEARshort	+0.0463%	1h	4.2848	−0.632%	$1.8M	$2.7M	10x
Nado NEAR-PERP	+0.0463%	1h	4.2941	−0.417%	$1.9M	$3.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0473%	1h	4.3164	+0.101%	$1.4M	$5.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0678%	1h	4.3139	+0.043%	$1.9M	$2.9M	25x	as long as short
Aftermath Perps NEARUSD	+0.1169%	1h	4.2861	−0.602%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1912%	1h	4.3235	+0.265%	$17.3M	$23.7M	15x	as long as short