Funding you earn now, next payment 06:00 UTC−0.0406%/8h= −44.4% APRnext payment −$0.51 per $10,000 · paid last 24h +0.020%
Price spread now: Hyperliquid against Phoenix−0.036%7-day average −0.107% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$350.353% of the position
Funding, last 7 days−0.338%−$34 on $10k
+Price spread, last 7 days−0.139%−$14 · spread now −0.036%, 7d avg −0.107%
=Together, before fees−0.477%+ Points / potential airdropHyperliquid: Season 2 · farm board−$48 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.071% dearer against Phoenix than usual: you sell high and buy low (spread −0.036% now, against its 7-day average of −0.107%): +$7 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.338% in total) that is about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NEAR | 4.4991 | 0.1003 | pay 0.0125% / 1h | 42m 49s | $1.9M | $2.5M | 10x |
| Short | Hyperliquid NEAR | 4.4975 | 0.0598 | get 0.0075% / 1h | 42m 49s | $370.1M | $309.8M | 10x |
Phoenix NEAR
Hyperliquid NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$85.18
- Price spread: −0.036% → −0.107%
- $7.14
- Slippage, 4 orders
- −$19.25
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$113.3
- Costs to cover
- 0.353%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 6 min ago; Hyperliquid: live order book, 11 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, 6 min ago | 0.89 bp | 12.2 bp −$12 | 51.1 bp −$511 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.11 bp | 5.1 bp −$5 | doesn't fit | 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 | 4.4873 | −0.262% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4926 | −0.144% | $111K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4851 | −0.311% | $169K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −7.959% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4880 | −0.247% | $111K | $493K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4969 | −0.049% | $231.5M | $429.5M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4930 | −0.136% | $63.7M | $301.4M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4366 | −1.389% | $253K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4942 | −0.109% | $35.1M | $60.2M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4970 | −0.047% | $53.8M | $45.9M | 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 | 4.4930 | −0.136% | $74.4M | $126.7M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4687 | −0.675% | $9.0M | $18.5M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4779 | −0.471% | $262K | $967K | 20x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4740 | −0.558% | $168K | $804K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4886 | −0.233% | $282K | $4.0M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4875 | −0.258% | $59K | $235K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4920 | −0.158% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4960 | −0.069% | $466K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4830 | −0.358% | $3.7M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0107% | 8h | 4.4960 | −0.068% | $32K | $585 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0123% | 8h | 4.4756 | −0.522% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0128% | 1h | 4.4855 | −0.302% | $209K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0182% | 8h | 4.4950 | −0.091% | — | $143.9M | — | as long as short |
| MEXC NEAR_USDT | +0.0184% | 8h | 4.4960 | −0.069% | $86.2M | $145.6M | 200x | as long as short |
| Binance NEARUSDT | +0.0187% | 8h | 4.4960 | −0.069% | $273.7M | $1.09B | 75x | as long as short |
| SoDEX NEAR-USD | +0.0199% | 1h | 4.4835 | −0.347% | $5K | $52K | 10x | as long as short |
| Kalshi KXNEARPERP | +0.0295% | 8h | 4.4847 | −0.320% | $1.1M | $25.0M | 2.2x | as long as short |
| BloFin NEAR-USDT | +0.0305% | 8h | 4.4830 | −0.358% | $13.6M | $33.1M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0317% / S −0.0201% | 1h | 4.4847 | −0.321% | $240K | — | 100x | as long as short |
| Extended NEAR-USD | +0.0328% | 1h | 4.4965 | −0.058% | $3.7M | $18.9M | 25x | as long as short |
| Aster NEARUSDT | +0.0338% | 8h | 4.4950 | −0.091% | $2.9M | $5.0M | 50x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0424% | 1h | 4.4893 | −0.218% | $2.3M | $16.5M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0496% | 1h | 4.4891 | −0.222% | $13K | $7K | 10x | as long as short |
| Nado NEAR-PERP | +0.0540% | 1h | 4.4829 | −0.359% | $1.8M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0578% | 1h | 4.4916 | −0.167% | $1.3M | $6.5M | 20x | as long as short |
| Hyperliquid NEARshort | +0.0598% | 1h | 4.4975 | −0.036% | $370.1M | $309.8M | 10x | |
| Kraken Futures PF_NEARUSD | +0.0651% | 1h | 4.4812 | −0.398% | $7.4M | $38.3M | 50x | as long as short |
| Arcus NEAR-USD | +0.0880% | 1h | 4.4910 | −0.180% | $228K | $1.6M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0954% | 1h | 4.4890 | −0.224% | $1.9M | $12.3M | 25x | as long as short |
| Phoenix NEARlong | +0.1003% | 1h | 4.4991 | long leg | $1.9M | $2.5M | 10x | |
| Lighter RH NEAR | +0.1008% | 1h | 4.5004 | +0.029% | $1.5M | $6.7M | 10x | as long as short |
| Lighter NEAR | +0.1056% | 1h | 4.5026 | +0.078% | $17.7M | $24.7M | 15x | as long as short |
| Pacifica NEAR | +0.1187% | 1h | 4.4955 | −0.080% | $414K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1240% | 1h | 4.4726 | −0.589% | $6K | $12K | 10x | as long as short |
| RISEx NEAR/USDC | +0.1259% | 1h | 4.4890 | −0.225% | $678K | $1.4M | 10x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
GRVT NEAR_USDT_Perp
Aevo NEAR-PERP
BingX NEAR-USDT
MEXC NEAR_USDT
Binance NEARUSDT
SoDEX NEAR-USD
Kalshi KXNEARPERP
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
Extended NEAR-USD
Aster NEARUSDT
Coinbase International NEAR-PERP-INTX
01 Exchange NEARUSD
Nado NEAR-PERP
Backpack NEAR_USDC_PERP
Kraken Futures PF_NEARUSD
Arcus NEAR-USD
Deribit NEAR_USDC-PERPETUAL
Lighter RH NEAR
Lighter NEAR
Pacifica NEAR
Aftermath Perps NEARUSD
RISEx NEAR/USDC