NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0806%/8h= −88.2% APRnext payment −$1.01 per $10,000 · paid last 24h −0.113%

Price spread now: GMX against Phoenix−1.197%65s7-day average −0.194% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.199%−$20 on $10k

Price spread, last 4 days (all we have)+1.019%+$102 · spread now −1.197%, 7d avg −0.194%

Together, before fees+0.820%+$82 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and GMX is 1.003% cheaper against Phoenix than usual: you would sell low and buy high (−$100 if the spread goes back to its 7-day average of −0.194%). Swap the legs. 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 3 days it paid -0.199% in total (about -21.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.01 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	4.4771	0.1003	pay 0.0125% / 1h	31m 38s	$1.8M	$2.5M	10x
Short	GMX NEAR/USD [ETH-USDC]	4.4235	L +0.0314% / S −0.0197%	get 0.0025% / 1h	31m 38s	$235K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phoenix. 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 PhoenixbpFee GMXbpOrdersPrice spread, now −1.197%Rate

Funding earned: −$169.24
Price spread: −1.197% → −0.194%: −$100.27
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$288.51
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 2 min ago; GMX: 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 Phoenix live order book, 2 min ago	0.90 bp	12.3 bp −$12	51.0 bp −$510	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	4.4223	−1.224%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4316	−1.016%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4240	−1.186%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.507%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4290	−1.074%	$112K	$491K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4318	−1.012%	$224.8M	$435.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4310	−1.030%	$62.6M	$298.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4350	−0.940%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4310	−1.030%	$35.5M	$61.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4340	−0.963%	$53.5M	$46.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4249	−1.166%	$73.2M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4297	−1.058%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4392	−0.846%	$259K	$964K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4380	−0.873%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4289	−1.077%	$297K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4277	−1.103%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	−0.985%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4320	−1.007%	$465K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4310	−1.030%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4310	−1.030%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0114%	8h	4.4327	−0.992%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4317	−1.013%	$206K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0192%	1h	4.4295	−1.063%	$5K	$53K	10x	as long as short
BingX NEAR-USDT	+0.0194%	8h	4.4250	−1.164%	—	$143.9M	—	as long as short
MEXC NEAR_USDT	+0.0196%	8h	4.4360	−0.918%	$81.2M	$147.8M	200x	as long as short
Binance NEARUSDT	+0.0200%	8h	4.4369	−0.897%	$270.8M	$1.09B	75x	as long as short
Extended NEAR-USD	+0.0224%	1h	4.4254	−1.154%	$3.7M	$18.5M	25x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.4276	−1.106%	$1.1M	$25.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0314%	8h	4.4410	−0.806%	$13.7M	$32.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0314% / S −0.0197%	1h	4.4235	−1.197%	$235K	—	100x
Aster NEARUSDT	+0.0318%	8h	4.4340	−0.963%	$2.8M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4436	−0.748%	$2.3M	$16.7M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.4285	−1.086%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.4341	−0.960%	$1.4M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0493%	1h	4.4354	−0.931%	$362.7M	$312.6M	10x	as long as short
Nado NEAR-PERP	+0.0602%	1h	4.4245	−1.175%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4289	−1.077%	$7.3M	$38.4M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4290	−1.074%	$225K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0880%	1h	4.4311	−1.027%	$1.9M	$13.1M	25x	as long as short
Lighter NEAR	+0.0888%	1h	4.4377	−0.879%	$17.4M	$25.1M	15x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.4377	−0.880%	$1.5M	$6.7M	10x	as long as short
Phoenix NEARlong	+0.1003%	1h	4.4771	long leg	$1.8M	$2.5M	10x
Pacifica NEAR	+0.1187%	1h	4.4336	−0.973%	$409K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4279	−1.099%	$668K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1272%	1h	4.4404	−0.819%	$6K	$12K	10x	as long as short