NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0363%/8h= −39.8% APRnext payment −$0.45 per $10,000 · paid last 24h −0.158%

Price spread now: Polymarket Perps against Phoenix−1.281%59s7-day average −0.175% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as 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−$380.379% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.726%−$73 on $10k

Price spread, last 7 days+1.198%+$120 · spread now −1.281%, 7d avg −0.175%

Together, before fees+0.472%+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Polymarket Perps is 1.106% cheaper against Phoenix than usual: you would sell low and buy high (−$111 if the spread goes back to its 7-day average of −0.175%). Swap the legs. The two prices were read 59 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	4.3418	0.0463	pay 0.0058% / 1h	48m 13s	$1.8M	$2.7M	10x
Short	Polymarket Perps NEAR-USD	4.2862	0.0100	get 0.0013% / 1h	48m 13s	$219K	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −1.281%Rate

Funding earned: −$76.29
Price spread: −1.281% → −0.175%: −$110.55
Slippage, 4 orders: −$22.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$224.79
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Phoenix: live order book, 5 min ago; Polymarket Perps: live order book, 6 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	0.92 bp	12.3 bp −$12	51.2 bp −$512	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	0.23 bp	7.0 bp −$7	9.8 bp −$98	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	4.2817	−1.383%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2964	−1.046%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2801	−1.421%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2877	−1.246%	$392K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2852	−1.303%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.625%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2810	−1.400%	$109K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0099%	8h	4.2791	−1.444%	$219.9M	$421.5M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2816	−1.387%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2872	−1.258%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2839	−1.333%	$403K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2841	−1.329%	$253.7M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2800	−1.423%	$61.1M	$285.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2810	−1.400%	$197K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3000	−0.963%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2816	−1.387%	$30.2M	$58.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2820	−1.377%	$79.2M	$140.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2850	−1.308%	$56.2M	$43.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2812	−1.396%	$71.2M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2840	−1.331%	—	$138.3M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3020	−0.918%	$8.0M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3021	−0.914%	$269K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2980	−1.009%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2990	−0.986%	$180K	$788K	50x	as long as short
Polymarket Perps NEAR-USDshort	+0.0100%	1h	4.2862	−1.281%	$219K	$3.3M	10x
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2866	−1.271%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2940	−1.101%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2875	−1.251%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2830	−1.354%	$3.9M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2833	−1.348%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2861	−1.282%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2909	−1.173%	$7.5M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0216%	1h	4.2829	−1.357%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2970	−1.032%	$13.0M	$30.8M	75x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2899	−1.195%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0314%	1h	4.2852	−1.303%	$275K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0403%	1h	4.2888	−1.221%	$1.9M	$2.3M	25x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2832	−1.350%	$413K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0452%	1h	4.2863	−1.278%	$1.3M	$5.6M	20x	as long as short
Phoenix NEARlong	+0.0463%	1h	4.3418	long leg	$1.8M	$2.7M	10x
Nado NEAR-PERP	+0.0852%	1h	4.2800	−1.423%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0884%	8h	4.2920	−1.147%	$458K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1214%	1h	4.3048	−0.851%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1223%	1h	4.2897	−1.200%	$369.7M	$297.9M	10x	as long as short
Lighter NEAR	+0.1952%	1h	4.2973	−1.025%	$16.5M	$23.7M	15x	as long as short