Funding you earn now, next payment 02:00 UTC+0.0203%/8h= +22.3% APRpaid last 24h +0.046%
Price spread now: Injective against Phemex−6.839%65s7-day average +0.942% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.072%+$7 on $10k
+Price spread, last 3 days (all we have)+8.690%+$869 · spread now −6.839%, 7d avg +0.942%
=Funding pays, the price is against you. Injective is 7.781% cheaper against Phemex than usual: you would sell low and buy high (spread −6.839% now, against its 7-day average of +0.942%). If the spread goes back, that is −$778 on $10k: about 4 months of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.072% in total) that is about years. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.072% in total (about 3.8% 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 | Phemex NEARUSDT | 4.4450 | −0.0170 | get 0.0170% / 8h | 6h 21m | $3.9M | $8.2M | 50x |
| Short | Injective NEAR/USDC PERP | 4.1410 | 0.0033 | get 0.0004% / 1h | 21m 32s | $578 | $302K | 12x |
Phemex NEARUSDT
Injective NEAR/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. 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
- $42.73
- Price spread: −6.839% → +0.942%
- −$778.11
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$747.41
- Costs to cover
- 0.120%
- Break-even
- 129.4 days
Slippage unknown: Phemex: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.
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 Phemex live order book, 2 min ago | 6.81 bp | 30.6 bp −$31 | 65.5 bp −$655 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
NEAR on 44 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 | 4.4458 | +0.019% | $2K | — | 20x | as long as short |
| Phemex NEARUSDTlong | −0.0170% | 8h | 4.4450 | long leg | $3.9M | $8.2M | 50x | |
| Coinbase International NEAR-PERP-INTX | −0.0064% | 1h | 4.4448 | −0.004% | $2.2M | $14.5M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4556 | +0.237% | $110K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.4561 | +0.250% | $703K | $19.7M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.4459 | +0.020% | $197K | — | 150x | as long as short |
| Injective NEAR/USDC PERPshort | +0.0033% | 1h | 4.1410 | −6.839% | $578 | $302K | 12x | |
| Variational Omni NEAR | +0.0072% | 8h | 4.3998 | −1.017% | $8.6M | $18.6M | — | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4690 | +0.540% | $112K | $487K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.4615 | +0.370% | $422K | $1.2M | 10x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Variational Omni NEAR
Popdex NEARUSDT
Pacifica NEARShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance NEARUSDT | +0.0100% | 8h | 4.4710 | +0.584% | $271.1M | $1.07B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4699 | +0.560% | $226.4M | $422.1M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4710 | +0.585% | $63.7M | $293.6M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.4700 | +0.562% | $213K | $1.7M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4050 | −0.900% | $251K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4652 | +0.454% | $32.4M | $62.0M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.4680 | +0.517% | $76.2M | $141.4M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4540 | +0.202% | $54.9M | $43.0M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.4658 | +0.468% | $73.6M | $125.7M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.4650 | +0.450% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4177 | −0.614% | $273K | $1.0M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.4339 | −0.250% | $1.5M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4180 | −0.607% | $183K | $763K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4501 | +0.115% | $218K | $3.5M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4470 | +0.045% | $61K | $190K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4560 | +0.247% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.4465 | +0.034% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4520 | +0.157% | $456K | $3.9M | 75x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.4653 | +0.456% | $32K | $608 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.4642 | +0.432% | $3.9M | $18.5M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.4683 | +0.524% | $208K | $34K | 3x | as long as short |
| Aster NEARUSDT | +0.0181% | 8h | 4.4630 | +0.406% | $3.1M | $5.8M | 50x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0213% | 1h | 4.4473 | +0.051% | $8.1M | $40.8M | 50x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0335% | 1h | 4.4500 | +0.112% | $1.9M | $4.2M | 25x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0360% / S −0.0258% | 1h | 4.4451 | +0.002% | $269K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0362% | 1h | 4.4687 | +0.534% | $1.9M | $3.1M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0416% | 1h | 4.4723 | +0.614% | $13K | $7K | 10x | as long as short |
| RISEx NEAR/USDC | +0.0509% | 1h | 4.4700 | +0.562% | $564K | $1.3M | 10x | as long as short |
| Phoenix NEAR | +0.0592% | 1h | 4.4147 | −0.682% | $1.8M | $2.6M | 10x | as long as short |
| Lighter RH NEAR | +0.0832% | 1h | 4.4649 | +0.448% | $1.7M | $7.0M | 10x | as long as short |
| Hyperliquid NEAR | +0.0900% | 1h | 4.4634 | +0.414% | $377.2M | $307.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0954% | 1h | 4.4513 | +0.142% | $1.4M | $6.1M | 20x | as long as short |
| Aftermath Perps NEARUSD | +0.1528% | 1h | 4.4160 | −0.652% | $6K | $12K | 10x | as long as short |
| Lighter NEAR | +0.1688% | 1h | 4.4771 | +0.722% | $17.9M | $25.4M | 15x | as long as short |
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
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
Extended NEAR-USD
Aevo NEAR-PERP
Aster NEARUSDT
Kraken Futures PF_NEARUSD
Deribit NEAR_USDC-PERPETUAL
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
01 Exchange NEARUSD
RISEx NEAR/USDC
Phoenix NEAR
Lighter RH NEAR
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
Aftermath Perps NEARUSD
Lighter NEAR