Funding you earn now, next payment 23:00 UTC−0.0363%/8h= −39.8% APRnext payment −$0.45 per $10,000 · paid last 24h +0.023%
Price spread now: Arcus against Phoenix−0.439%7-day average −0.170% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$360.356% of the position
Funding, last 3 days (all we have)−0.107%−$11 on $10k
+Price spread, last 7 days+0.274%+$27 · spread now −0.439%, 7d avg −0.170%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Arcus is 0.269% cheaper against Phoenix than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.170%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.107% in total (about -11.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 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 | Phoenix NEAR | 4.2828 | 0.0463 | pay 0.0058% / 1h | 58m 48s | $1.8M | $2.6M | 10x |
| Short | Arcus NEAR-USD | 4.2640 | 0.0100 | get 0.0013% / 1h | 58m 48s | $195K | $1.8M | 10x |
Phoenix NEAR
Arcus NEAR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$76.29
- Price spread: −0.439% → −0.170%
- −$26.94
- Slippage, 4 orders
- −$24.12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$138.85
- Costs to cover
- 0.356%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; Arcus: 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 Phoenix live order book, 5 min ago | 0.93 bp | 12.3 bp −$12 | 51.2 bp −$512 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 5 min ago | 3.50 bp | 5.7 bp −$6 | 11.3 bp −$113 | 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 | 4.2630 | −0.462% | $2K | — | 20x | as long as short |
| Kraken Futures PF_NEARUSD | −0.0132% | 1h | 4.2650 | −0.415% | $7.5M | $37.4M | 50x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0096% | 1h | 4.2670 | −0.369% | $2.2M | $13.1M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.2711 | −0.274% | $111K | $62K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.2640 | −0.439% | $369K | $18.8M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.2643 | −0.433% | $202K | — | 150x | as long as short |
| Variational Omni NEAR | +0.0024% | 8h | 4.2669 | −0.371% | $7.8M | $18.5M | — | as long as short |
| 01 Exchange NEARUSD | +0.0032% | 1h | 4.2647 | −0.423% | $13K | $7K | 10x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −3.311% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2690 | −0.322% | $110K | $495K | 50x | as long as short |
Reya NEARRUSDPERP
Kraken Futures PF_NEARUSD
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Variational Omni NEAR
01 Exchange NEARUSD
Injective NEAR/USDC PERP
Popdex NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NEAR_USDC | +0.0099% | 8h | 4.2650 | −0.416% | $57K | $194K | 20x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.2672 | −0.364% | $31K | $647 | 10x | as long as short |
| Hyperliquid NEAR | +0.0100% | 1h | 4.2677 | −0.353% | $363.6M | $301.4M | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.2661 | −0.389% | $3.0M | $5.7M | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.2680 | −0.346% | $400K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.2630 | −0.462% | $252.8M | $1.08B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.2610 | −0.509% | $216.8M | $421.5M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.2610 | −0.509% | $60.5M | $285.2M | 50x | as long as short |
| Arcus NEAR-USDshort | +0.0100% | 1h | 4.2640 | −0.439% | $195K | $1.8M | 10x | |
| Bulk NEAR-USD | +0.0100% | 1h | 4.2757 | −0.165% | $244K | $2K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.2616 | −0.495% | $30.8M | $58.3M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.2620 | −0.486% | $79.2M | $137.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.2650 | −0.416% | $55.7M | $43.4M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.2616 | −0.495% | $70.7M | $126.0M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.2620 | −0.486% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.2687 | −0.329% | $243K | $1.2M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.2676 | −0.355% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.2710 | −0.276% | $178K | $792K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2701 | −0.297% | $194K | $3.5M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.2680 | −0.346% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.2630 | −0.462% | $4K | $54K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.2760 | −0.159% | $456K | $3.7M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.2620 | −0.486% | $3.8M | $8.5M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.2612 | −0.503% | $3.9M | $16.4M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.2743 | −0.199% | $202K | $23K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.2590 | −0.556% | $13.0M | $29.2M | 75x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0276% | 1h | 4.2664 | −0.383% | $1.4M | $5.6M | 20x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0360% | 1h | 4.2679 | −0.348% | $1.9M | $2.8M | 25x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0376% / S −0.0316% | 1h | 4.2637 | −0.445% | $275K | — | 100x | as long as short |
| Lighter RH NEAR | +0.0416% | 1h | 4.2705 | −0.287% | $1.6M | $6.8M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0428% | 1h | 4.2663 | −0.385% | $418K | $1.2M | 10x | as long as short |
| Phoenix NEARlong | +0.0463% | 1h | 4.2828 | long leg | $1.8M | $2.6M | 10x | |
| Aftermath Perps NEARUSD | +0.1185% | 1h | 4.2754 | −0.172% | $5K | $12K | 10x | as long as short |
| Nado NEAR-PERP | +0.1190% | 1h | 4.2654 | −0.407% | $1.9M | $3.4M | 10x | as long as short |
| Lighter NEAR | +0.1784% | 1h | 4.2778 | −0.117% | $16.9M | $23.4M | 15x | as long as short |
Orderly PERP_NEAR_USDC
Paradex NEAR-USD-PERP
Hyperliquid NEAR
Aster NEARUSDT
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
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
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
BloFin NEAR-USDT
Backpack NEAR_USDC_PERP
Deribit NEAR_USDC-PERPETUAL
GMX NEAR/USD [ETH-USDC]
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD
Nado NEAR-PERP
Lighter NEAR