Funding you earn now, next payment 08:00 UTC+0.0217%/8h= +23.8% APRnext payment +$2.17 per $10,000 · paid last 24h −0.030%
Price spread now: Kalshi against Phemex−0.143%7-day average −0.044% · 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−$103as in the Price arb table
costs, in and out, $10k−$930.928% of the position
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 4 days (all we have)−0.160%−$16 · spread now −0.143%, 7d avg −0.044%
=Funding pays, the price is against you. Kalshi is 0.099% cheaper against Phemex than usual: you would sell low and buy high (spread −0.143% now, against its 7-day average of −0.044%). If the spread goes back, that is −$10 on $10k: about 37 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.144%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.144% in total (about -7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.17 per $10,000. 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 | 4.4050 | 0.0100 | pay 0.0100% / 8h | 2h 06m | $3.6M | $8.3M | 50x |
| Short | Kalshi KXNEARPERP | 4.3987 | 0.0317 | get 0.0317% / 8h | 6h 06m | $1.0M | $24.7M | 2.2x |
Phemex NEARUSDT
Kalshi KXNEARPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- $45.58
- Price spread: −0.143% → −0.044%
- −$9.93
- Slippage, 4 orders
- −$70.82
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$57.17
- Costs to cover
- 0.928%
- Break-even
- 15.8 days
Slippage from Phemex: live order book, 2 min ago; Kalshi: live order book, 2 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 Phemex live order book, 2 min ago | 4.56 bp | 54.6 bp −$55 | 108.2 bp −$1,082 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 2 min ago | 4.34 bp | 9.3 bp −$9 | 19.0 bp −$190 | 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 | 4.4066 | +0.035% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4071 | +0.047% | $108K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4059 | +0.019% | $166K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.993% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4030 | −0.045% | $116K | $497K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4098 | +0.109% | $221.8M | $423.0M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4130 | +0.182% | $62.3M | $294.0M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3500 | −1.249% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4091 | +0.093% | $33.6M | $61.1M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4130 | +0.182% | $53.2M | $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 | 4.4141 | +0.207% | $72.8M | $127.0M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3607 | −1.005% | $8.8M | $18.4M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3652 | −0.904% | $255K | $963K | 20x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4067 | +0.039% | $282K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4111 | +0.138% | $58K | $243K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4160 | +0.250% | $1K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4200 | +0.341% | $476K | $4.0M | 75x | as long as short |
| Phemex NEARUSDTlong | +0.0100% | 8h | 4.4050 | long leg | $3.6M | $8.3M | 50x | |
| GRVT NEAR_USDT_Perp | +0.0102% | 8h | 4.3673 | −0.855% | $1.4M | $1.5M | 10x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.4109 | +0.134% | $32K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0112% | 1h | 4.4126 | +0.172% | $205K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0130% | 8h | 4.4140 | +0.204% | — | $143.5M | — | as long as short |
| MEXC NEAR_USDT | +0.0133% | 8h | 4.4130 | +0.182% | $83.8M | $146.5M | 200x | as long as short |
| Binance NEARUSDT | +0.0137% | 8h | 4.4144 | +0.213% | $268.3M | $1.09B | 75x | as long as short |
| BloFin NEAR-USDT | +0.0253% | 8h | 4.4130 | +0.182% | $13.3M | $32.6M | 75x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0256% | 1h | 4.4085 | +0.079% | $2.3M | $16.3M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0313% / S −0.0201% | 1h | 4.4052 | +0.005% | $236K | — | 100x | as long as short |
| Kalshi KXNEARPERPshort | +0.0317% | 8h | 4.3987 | −0.143% | $1.0M | $24.7M | 2.2x | |
| Aster NEARUSDT | +0.0338% | 8h | 4.4120 | +0.159% | $2.8M | $5.2M | 50x | as long as short |
| Nado NEAR-PERP | +0.0391% | 1h | 4.4073 | +0.051% | $1.7M | $3.2M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0417% | 1h | 4.3640 | −0.931% | $167K | $796K | 50x | as long as short |
| Extended NEAR-USD | +0.0472% | 1h | 4.4117 | +0.153% | $3.7M | $19.3M | 25x | as long as short |
| SoDEX NEAR-USD | +0.0516% | 1h | 4.4065 | +0.034% | $5K | $52K | 10x | as long as short |
| Hyperliquid NEAR | +0.0675% | 1h | 4.4156 | +0.241% | $363.1M | $310.9M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0693% | 1h | 4.4096 | +0.104% | $1.3M | $6.5M | 20x | as long as short |
| 01 Exchange NEARUSD | +0.0712% | 1h | 4.4076 | +0.059% | $13K | $7K | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0718% | 1h | 4.4070 | +0.046% | $7.4M | $39.0M | 50x | as long as short |
| Arcus NEAR-USD | +0.0814% | 1h | 4.4200 | +0.341% | $229K | $1.6M | 10x | as long as short |
| Pacifica NEAR | +0.0847% | 1h | 4.4123 | +0.166% | $404K | $1.4M | 10x | as long as short |
| Lighter NEAR | +0.0912% | 1h | 4.4169 | +0.269% | $17.3M | $25.3M | 15x | as long as short |
| Phoenix NEAR | +0.1033% | 1h | 4.3931 | −0.270% | $1.8M | $2.5M | 10x | as long as short |
| Lighter RH NEAR | +0.1104% | 1h | 4.4179 | +0.293% | $1.5M | $7.5M | 10x | as long as short |
| RISEx NEAR/USDC | +0.1220% | 1h | 4.4061 | +0.024% | $686K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1280% | 1h | 4.3673 | −0.857% | $5K | $12K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1316% | 1h | 4.4141 | +0.207% | $2.0M | $12.0M | 25x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
GRVT NEAR_USDT_Perp
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
BingX NEAR-USDT
MEXC NEAR_USDT
Binance NEARUSDT
BloFin NEAR-USDT
Coinbase International NEAR-PERP-INTX
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
Nado NEAR-PERP
ApeX Omni NEARUSDT
Extended NEAR-USD
SoDEX NEAR-USD
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
01 Exchange NEARUSD
Kraken Futures PF_NEARUSD
Arcus NEAR-USD
Pacifica NEAR
Lighter NEAR
Phoenix NEAR
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD
Deribit NEAR_USDC-PERPETUAL