NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0688%/8h= +75.4% APRnext payment +$0.86 per $10,000 · paid last 24h +0.089%

Price spread now: Phoenix against GMX+0.243%65s7-day average +0.188% · you sell dearer than you buy

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

Long on GMX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.216%+$22 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.243%, 7d avg +0.188%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Phoenix is 0.056% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.188%. 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 0.216% in total (about 23.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.86 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	GMX NEAR/USD [ETH-USDC]	4.4381	L +0.0315% / S −0.0201%	pay 0.0039% / 1h	52m 12s	$238K	—	100x
Short	Phoenix NEAR	4.4489	0.1003	get 0.0125% / 1h	52m 12s	$1.8M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GMX. 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 GMXbpFee PhoenixbpOrdersPrice spread, now +0.243%Rate

Funding earned: $144.52
Price spread: +0.243% → +0.188%: $5.56
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $131.08
Costs to cover: 0.190%
Break-even: 0.7 days

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 1 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 1 min ago	0.90 bp	11.8 bp −$12	27.5 bp −$275	doesn't fit	doesn't fit

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	4.4378	−0.006%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4319	−0.139%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4379	−0.004%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.694%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4330	−0.115%	$114K	$494K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4350	−0.070%	$226.5M	$424.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4360	−0.047%	$62.5M	$295.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.034%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4387	+0.013%	$34.5M	$59.8M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4420	+0.088%	$53.5M	$45.7M	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	4.4356	−0.056%	$73.5M	$126.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4407	+0.059%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4434	+0.120%	$260K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4418	+0.083%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4401	+0.045%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4420	+0.088%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4480	+0.223%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4360	−0.047%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4330	−0.115%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4450	+0.155%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4395	+0.031%	$206K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0158%	8h	4.4380	−0.002%	—	$143.7M	—	as long as short
MEXC NEAR_USDT	+0.0165%	8h	4.4420	+0.088%	$85.8M	$143.9M	200x	as long as short
Binance NEARUSDT	+0.0167%	8h	4.4393	+0.027%	$268.9M	$1.08B	75x	as long as short
SoDEX NEAR-USD	+0.0237%	1h	4.4355	−0.059%	$5K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0285%	8h	4.4500	+0.268%	$13.5M	$32.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0305%	8h	4.4414	+0.074%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0315% / S −0.0201%	1h	4.4381	long leg	$238K	—	100x
Aster NEARUSDT	+0.0342%	8h	4.4370	−0.025%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4343	−0.086%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4441	+0.135%	$2.3M	$16.3M	50x	as long as short
ApeX Omni NEARUSDT	+0.0440%	1h	4.4430	+0.110%	$168K	$803K	50x	as long as short
01 Exchange NEARUSD	+0.0496%	1h	4.4369	−0.027%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0575%	1h	4.4380	−0.002%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0604%	1h	4.4472	+0.205%	$1.3M	$6.5M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0658%	1h	4.4348	−0.075%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0679%	1h	4.4442	+0.137%	$365.7M	$306.6M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4580	+0.448%	$226K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0900%	1h	4.4412	+0.070%	$1.9M	$12.2M	25x	as long as short
Lighter NEAR	+0.0904%	1h	4.4428	+0.106%	$17.4M	$24.6M	15x	as long as short
Phoenix NEARshort	+0.1003%	1h	4.4489	+0.243%	$1.8M	$2.5M	10x
Lighter RH NEAR	+0.1016%	1h	4.4421	+0.090%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4364	−0.039%	$408K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1193%	1h	4.4376	−0.011%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4354	−0.061%	$678K	$1.4M	10x	as long as short