Funding you earn now, next payment 01:00 UTC−0.0592%/8h= −64.8% APRnext payment −$0.74 per $10,000 · paid last 24h −0.179%
Price spread now: dYdX against Phoenix−0.499%46s7-day average −0.227% · you buy dearer than you sell
Net, funding: paid 7d − costs−$228as 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−$1371.374% of the position
Funding, last 7 days−0.904%−$90 on $10k
+Price spread, last 4 days (all we have)−0.233%−$23 · spread now −0.499%, 7d avg −0.227%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and dYdX is 0.272% cheaper against Phoenix than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.227%). Swap the legs. The two prices were read 46 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 | Phoenix NEAR | 4.3816 | 0.0592 | pay 0.0074% / 1h | 3m 56s | $1.8M | $2.6M | 10x |
| Short | dYdX NEAR-USD | 4.3597 | 0 | get 0.0000% / 1h | 3m 56s | $107K | $70K | 10x |
Phoenix NEAR
dYdX NEAR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$124.36
- Price spread: −0.499% → −0.227%
- −$27.24
- Slippage, 4 orders
- −$120.44
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$289.04
- Costs to cover
- 1.374%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; dYdX: live order book, 65 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 | 0.91 bp | 7.9 bp −$8 | 14.0 bp −$140 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 65 min ago | 53.24 bp | 58.2 bp −$58 | 58.2 bp −$582 | 82.6 bp −$8,262 | 132.5 bp −$66.2K |
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 | 4.3618 | −0.451% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0064% | 1h | 4.3610 | −0.470% | $2.2M | $14.2M | 50x | as long as short |
| dYdX NEAR-USDshort | 0.0000% | 1h | 4.3597 | −0.499% | $107K | $70K | 10x | |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.3647 | −0.386% | $560K | $19.6M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.3639 | −0.404% | $197K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.491% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3660 | −0.356% | $114K | $486K | 50x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3557 | −0.590% | $8.4M | $18.4M | — | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.3594 | −0.506% | $409K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.3651 | −0.378% | $264.7M | $1.08B | 75x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Variational Omni NEAR
Pacifica NEAR
Binance NEARUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit NEARUSDT | +0.0100% | 8h | 4.3610 | −0.470% | $219.5M | $417.8M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3600 | −0.493% | $62.1M | $289.0M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.3700 | −0.265% | $208K | $1.7M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3555 | −0.596% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3636 | −0.411% | $31.5M | $63.3M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3660 | −0.356% | $75.2M | $144.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3670 | −0.333% | $54.0M | $43.8M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3627 | −0.431% | $71.6M | $126.1M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.3640 | −0.402% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3788 | −0.064% | $270K | $1.0M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3782 | −0.078% | $1.5M | $1.4M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3780 | −0.082% | $199K | $774K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3672 | −0.329% | $207K | $3.6M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3628 | −0.429% | $60K | $190K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3720 | −0.219% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3608 | −0.475% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3680 | −0.310% | $455K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3650 | −0.379% | $3.8M | $8.1M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.3533 | −0.645% | $31K | $608 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3624 | −0.438% | $3.8M | $18.6M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3630 | −0.425% | $203K | $34K | 3x | as long as short |
| Aster NEARUSDT | +0.0177% | 8h | 4.3662 | −0.352% | $3.0M | $5.7M | 50x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0217% | 1h | 4.3618 | −0.451% | $7.7M | $40.7M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0347% / S −0.0242% | 1h | 4.3629 | −0.428% | $255K | — | 100x | as long as short |
| 01 Exchange NEARUSD | +0.0408% | 1h | 4.3712 | −0.237% | $13K | $7K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0415% | 1h | 4.3651 | −0.377% | $1.9M | $4.3M | 25x | as long as short |
| Nado NEAR-PERP | +0.0419% | 1h | 4.3645 | −0.390% | $1.9M | $3.1M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0509% | 1h | 4.3705 | −0.254% | $548K | $1.3M | 10x | as long as short |
| Phoenix NEARlong | +0.0592% | 1h | 4.3816 | long leg | $1.8M | $2.6M | 10x | |
| Lighter RH NEAR | +0.0784% | 1h | 4.3691 | −0.285% | $1.6M | $7.1M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0825% | 1h | 4.3678 | −0.315% | $1.5M | $6.3M | 20x | as long as short |
| Hyperliquid NEAR | +0.0868% | 1h | 4.3699 | −0.267% | $368.0M | $305.8M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1640% | 1h | 4.3736 | −0.184% | $5K | $12K | 10x | as long as short |
| Lighter NEAR | +0.1712% | 1h | 4.3731 | −0.194% | $17.5M | $25.8M | 15x | as long as short |
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
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Extended NEAR-USD
Aevo NEAR-PERP
Aster NEARUSDT
Kraken Futures PF_NEARUSD
GMX NEAR/USD [ETH-USDC]
01 Exchange NEARUSD
Deribit NEAR_USDC-PERPETUAL
Nado NEAR-PERP
RISEx NEAR/USDC
Lighter RH NEAR
Backpack NEAR_USDC_PERP
Hyperliquid NEAR
Aftermath Perps NEARUSD
Lighter NEAR