Funding you earn now, next payment 05:00 UTC+0.0043%/8h= +4.7% APRnext payment +$0.05 per $10,000 · paid last 24h +0.080%
Price spread now: Phoenix against Deribit+0.388%50s7-day average +0.106% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as 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−$400.405% of the position
Funding, last 7 days+0.368%+$37 on $10k
+Price spread, last 4 days (all we have)−0.337%−$34 · spread now +0.388%, 7d avg +0.106%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.282% dearer against Deribit than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.106%. The two prices were read 50 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 | Deribit NEAR_USDC-PERPETUAL | 4.2795 | 0.0990 | pay 0.0124% / 1h | 47m 28s | $1.9M | $10.8M | 25x |
| Short | Phoenix NEAR | 4.2961 | 0.1033 | get 0.0129% / 1h | 47m 28s | $1.8M | $2.5M | 10x |
Deribit NEAR_USDC-PERPETUAL
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Deribit. 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
- $9.07
- Price spread: +0.388% → +0.106%
- $28.23
- Slippage, 4 orders
- −$26.47
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$3.17
- Costs to cover
- 0.405%
- Break-even
- 9.4 days
Slippage from Deribit: live order book, 2 min ago; Phoenix: 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 Deribit live order book, 2 min ago | 4.67 bp | 8.2 bp −$8 | 17.5 bp −$175 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 0.93 bp | 11.8 bp −$12 | 31.6 bp −$316 | 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 | 4.2719 | −0.178% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.2717 | −0.182% | $105K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.2719 | −0.178% | $160K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −3.236% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2750 | −0.105% | $111K | $500K | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.2785 | −0.022% | $260.9M | $1.09B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.2744 | −0.119% | $212.3M | $423.1M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.2760 | −0.082% | $60.2M | $284.5M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.2835 | +0.094% | $244K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.2725 | −0.164% | $32.0M | $59.6M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC NEAR_USDT | +0.0100% | 8h | 4.2780 | −0.035% | $70.3M | $142.5M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.2780 | −0.035% | $52.9M | $45.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.2748 | −0.110% | $70.7M | $127.6M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.2750 | −0.105% | — | $6.7M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.2828 | +0.076% | $8.2M | $18.0M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.2870 | +0.176% | $250K | $950K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.2882 | +0.204% | $1.4M | $1.5M | 10x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2758 | −0.086% | $263K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.2775 | −0.047% | $56K | $243K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.2910 | +0.269% | $2K | $1.4M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.2840 | +0.105% | $459K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.2790 | −0.012% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.2735 | −0.140% | $31K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.2765 | −0.070% | $199K | $37K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.2900 | +0.245% | $13.4M | $31.7M | 75x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0256% | 1h | 4.2768 | −0.063% | $2.3M | $15.8M | 50x | as long as short |
| Kalshi KXNEARPERP | +0.0271% | 8h | 4.2802 | +0.016% | $834K | $24.5M | 2.2x | as long as short |
| Nado NEAR-PERP | +0.0314% | 1h | 4.2741 | −0.127% | $1.7M | $3.2M | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0320% / S −0.0195% | 1h | 4.2716 | −0.185% | $229K | — | 100x | as long as short |
| Aster NEARUSDT | +0.0337% | 8h | 4.2760 | −0.082% | $2.8M | $5.4M | 50x | as long as short |
| ApeX Omni NEARUSDT | +0.0347% | 1h | 4.2880 | +0.199% | $165K | $794K | 50x | as long as short |
| Extended NEAR-USD | +0.0504% | 1h | 4.2719 | −0.177% | $3.7M | $19.9M | 25x | as long as short |
| SoDEX NEAR-USD | +0.0583% | 1h | 4.2755 | −0.093% | $6K | $53K | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0657% | 1h | 4.2787 | −0.019% | $1.3M | $6.8M | 20x | as long as short |
| Hyperliquid NEAR | +0.0666% | 1h | 4.2771 | −0.056% | $349.5M | $311.4M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0728% | 1h | 4.2818 | +0.054% | $13K | $7K | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0739% | 1h | 4.2769 | −0.061% | $7.5M | $38.7M | 50x | as long as short |
| Lighter NEAR | +0.0768% | 1h | 4.2799 | +0.009% | $16.7M | $25.0M | 15x | as long as short |
| Arcus NEAR-USD | +0.0814% | 1h | 4.2790 | −0.012% | $210K | $1.6M | 10x | as long as short |
| Pacifica NEAR | +0.0847% | 1h | 4.2755 | −0.093% | $391K | $1.3M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUALlong | +0.0990% | 1h | 4.2795 | long leg | $1.9M | $10.8M | 25x | |
| Lighter RH NEAR | +0.1008% | 1h | 4.2807 | +0.028% | $1.5M | $7.3M | 10x | as long as short |
| Phoenix NEARshort | +0.1033% | 1h | 4.2961 | +0.388% | $1.8M | $2.5M | 10x | |
| RISEx NEAR/USDC | +0.1220% | 1h | 4.2767 | −0.066% | $685K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1471% | 1h | 4.2799 | +0.008% | $5K | $12K | 10x | as long as short |
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
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
BloFin NEAR-USDT
Coinbase International NEAR-PERP-INTX
Kalshi KXNEARPERP
Nado NEAR-PERP
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
ApeX Omni NEARUSDT
Extended NEAR-USD
SoDEX NEAR-USD
Backpack NEAR_USDC_PERP
Hyperliquid NEAR
01 Exchange NEARUSD
Kraken Futures PF_NEARUSD
Lighter NEAR
Arcus NEAR-USD
Pacifica NEAR
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD