Funding you earn now, next payment 05:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.076%
Price spread now: Lighter against Phoenix−0.182%74s7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as 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−$330.332% of the position
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 7 days+0.182%+$18 · spread now −0.182%, 7d avg −0.038%
=Together, before fees+0.249%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.144% cheaper against Phoenix than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.038%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.067%, so the current rate has only just turned against you. The two prices were read 74 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 | 4.3660 | 0.1033 | pay 0.0129% / 1h | 11m 54s | $1.8M | $2.5M | 10x |
| Short | Lighter NEAR | 4.3581 | 0.0912 | get 0.0114% / 1h | 11m 54s | $17.1M | $25.2M | 15x |
Phoenix NEAR
Lighter NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$25.45
- Price spread: −0.182% → −0.038%
- −$14.42
- Slippage, 4 orders
- −$26.17
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$73.04
- Costs to cover
- 0.332%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 2 min ago; Lighter: live order book, 7 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, 2 min ago | 0.92 bp | 12.3 bp −$12 | 51.3 bp −$513 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 2.23 bp | 6.4 bp −$6 | 20.1 bp −$201 | 67.8 bp −$6,779 | 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 | 4.3478 | −0.416% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3467 | −0.442% | $107K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3496 | −0.375% | $164K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.153% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3490 | −0.389% | $115K | $498K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3531 | −0.295% | $217.8M | $420.3M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3540 | −0.275% | $61.4M | $289.6M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3500 | −0.366% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3493 | −0.383% | $33.1M | $60.6M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3530 | −0.298% | $52.5M | $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 | 4.3541 | −0.273% | $71.9M | $125.9M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3478 | −0.417% | $8.5M | $18.2M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3566 | −0.215% | $254K | $967K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3591 | −0.157% | $1.4M | $1.5M | 10x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3509 | −0.346% | $279K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3535 | −0.286% | $57K | $243K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3600 | −0.137% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3610 | −0.115% | $470K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3510 | −0.344% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.3457 | −0.465% | $31K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0112% | 1h | 4.3540 | −0.275% | $202K | $37K | 3x | as long as short |
| BingX NEAR-USDT | +0.0116% | 8h | 4.3520 | −0.321% | — | $143.4M | — | as long as short |
| MEXC NEAR_USDT | +0.0119% | 8h | 4.3580 | −0.183% | $82.8M | $145.9M | 200x | as long as short |
| Binance NEARUSDT | +0.0123% | 8h | 4.3538 | −0.280% | $264.9M | $1.09B | 75x | as long as short |
| BloFin NEAR-USDT | +0.0239% | 8h | 4.3520 | −0.321% | $13.3M | $31.9M | 75x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0256% | 1h | 4.3557 | −0.236% | $2.3M | $16.1M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0312% / S −0.0201% | 1h | 4.3496 | −0.376% | $233K | — | 100x | as long as short |
| Kalshi KXNEARPERP | +0.0314% | 8h | 4.3502 | −0.362% | $994K | $24.7M | 2.2x | as long as short |
| Aster NEARUSDT | +0.0336% | 8h | 4.3540 | −0.275% | $2.8M | $5.2M | 50x | as long as short |
| Nado NEAR-PERP | +0.0402% | 1h | 4.3505 | −0.354% | $1.7M | $3.2M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0435% | 1h | 4.3520 | −0.321% | $167K | $795K | 50x | as long as short |
| Extended NEAR-USD | +0.0496% | 1h | 4.3497 | −0.373% | $3.7M | $19.4M | 25x | as long as short |
| SoDEX NEAR-USD | +0.0531% | 1h | 4.3520 | −0.321% | $5K | $52K | 10x | as long as short |
| Hyperliquid NEAR | +0.0654% | 1h | 4.3599 | −0.140% | $358.1M | $311.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0682% | 1h | 4.3538 | −0.279% | $1.3M | $6.6M | 20x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0727% | 1h | 4.3503 | −0.361% | $7.3M | $39.1M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0728% | 1h | 4.3542 | −0.270% | $13K | $7K | 10x | as long as short |
| Arcus NEAR-USD | +0.0814% | 1h | 4.3550 | −0.252% | $225K | $1.6M | 10x | as long as short |
| Pacifica NEAR | +0.0847% | 1h | 4.3492 | −0.385% | $398K | $1.3M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0854% | 1h | 4.3544 | −0.266% | $1.9M | $11.7M | 25x | as long as short |
| Lighter NEARshort | +0.0912% | 1h | 4.3581 | −0.182% | $17.1M | $25.2M | 15x | |
| Phoenix NEARlong | +0.1033% | 1h | 4.3660 | long leg | $1.8M | $2.5M | 10x | |
| Lighter RH NEAR | +0.1112% | 1h | 4.3581 | −0.181% | $1.5M | $7.4M | 10x | as long as short |
| RISEx NEAR/USDC | +0.1220% | 1h | 4.3529 | −0.301% | $689K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1317% | 1h | 4.3456 | −0.468% | $5K | $12K | 10x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Phemex NEARUSDT
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]
Kalshi KXNEARPERP
Aster NEARUSDT
Nado NEAR-PERP
ApeX Omni NEARUSDT
Extended NEAR-USD
SoDEX NEAR-USD
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
Kraken Futures PF_NEARUSD
01 Exchange NEARUSD
Arcus NEAR-USD
Pacifica NEAR
Deribit NEAR_USDC-PERPETUAL
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD