Funding you earn now, next payment 06:00 UTC+0.0099%/8h= +10.9% APRnext payment +$0.12 per $10,000 · paid last 24h −0.071%
Price spread now: Phoenix against Lighter+0.137%74s7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as 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−$330.334% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 7 days−0.137%−$14 · spread now +0.137%, 7d avg +0.038%
=Together, before fees−0.204%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.099% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.038%. Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour. 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 | Lighter NEAR | 4.4428 | 0.0904 | pay 0.0113% / 1h | 52m 15s | $17.4M | $24.6M | 15x |
| Short | Phoenix NEAR | 4.4489 | 0.1003 | get 0.0125% / 1h | 52m 15s | $1.8M | $2.5M | 10x |
Lighter NEAR
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $20.84
- Price spread: +0.137% → +0.038%
- $9.9
- Slippage, 4 orders
- −$26.42
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$2.68
- Costs to cover
- 0.334%
- Break-even
- 7.9 days
Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 1 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 Lighter live order book, 6 min ago | 3.18 bp | 4.6 bp −$5 | 14.5 bp −$145 | 64.1 bp −$6,406 | doesn't fit |
| 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 |
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 | −0.113% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4319 | −0.245% | $109K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4379 | −0.110% | $167K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −6.794% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4330 | −0.221% | $114K | $494K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4350 | −0.176% | $226.5M | $424.5M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4360 | −0.154% | $62.5M | $295.3M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4366 | −0.140% | $253K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4387 | −0.093% | $34.5M | $59.8M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4420 | −0.019% | $53.5M | $45.7M | 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 | 4.4356 | −0.163% | $73.5M | $126.1M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4407 | −0.047% | $8.9M | $18.5M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4434 | +0.013% | $260K | $963K | 20x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4418 | −0.023% | $278K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4401 | −0.061% | $58K | $233K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4420 | −0.019% | $2K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4480 | +0.116% | $462K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4360 | −0.154% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0103% | 8h | 4.4330 | −0.221% | $32K | $585 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0120% | 8h | 4.4450 | +0.049% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0120% | 1h | 4.4395 | −0.075% | $206K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0158% | 8h | 4.4380 | −0.109% | — | $143.7M | — | as long as short |
| MEXC NEAR_USDT | +0.0165% | 8h | 4.4420 | −0.019% | $85.8M | $143.9M | 200x | as long as short |
| Binance NEARUSDT | +0.0167% | 8h | 4.4393 | −0.079% | $268.9M | $1.08B | 75x | as long as short |
| SoDEX NEAR-USD | +0.0237% | 1h | 4.4355 | −0.165% | $5K | $52K | 10x | as long as short |
| BloFin NEAR-USDT | +0.0285% | 8h | 4.4500 | +0.161% | $13.5M | $32.8M | 75x | as long as short |
| Kalshi KXNEARPERP | +0.0305% | 8h | 4.4414 | −0.032% | $1.1M | $24.9M | 2.2x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0315% / S −0.0201% | 1h | 4.4381 | −0.106% | $238K | — | 100x | as long as short |
| Aster NEARUSDT | +0.0342% | 8h | 4.4370 | −0.131% | $2.9M | $5.0M | 50x | as long as short |
| Extended NEAR-USD | +0.0376% | 1h | 4.4343 | −0.192% | $3.7M | $19.0M | 25x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0424% | 1h | 4.4441 | +0.029% | $2.3M | $16.3M | 50x | as long as short |
| ApeX Omni NEARUSDT | +0.0440% | 1h | 4.4430 | +0.004% | $168K | $803K | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0496% | 1h | 4.4369 | −0.133% | $13K | $7K | 10x | as long as short |
| Nado NEAR-PERP | +0.0575% | 1h | 4.4380 | −0.109% | $1.7M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0604% | 1h | 4.4472 | +0.098% | $1.3M | $6.5M | 20x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0658% | 1h | 4.4348 | −0.181% | $7.4M | $38.7M | 50x | as long as short |
| Hyperliquid NEAR | +0.0679% | 1h | 4.4442 | +0.031% | $365.7M | $306.6M | 10x | as long as short |
| Arcus NEAR-USD | +0.0880% | 1h | 4.4580 | +0.341% | $226K | $1.6M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0900% | 1h | 4.4412 | −0.037% | $1.9M | $12.2M | 25x | as long as short |
| Lighter NEARlong | +0.0904% | 1h | 4.4428 | long leg | $17.4M | $24.6M | 15x | |
| Phoenix NEARshort | +0.1003% | 1h | 4.4489 | +0.137% | $1.8M | $2.5M | 10x | |
| Lighter RH NEAR | +0.1016% | 1h | 4.4421 | −0.016% | $1.5M | $6.6M | 10x | as long as short |
| Pacifica NEAR | +0.1187% | 1h | 4.4364 | −0.146% | $408K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1193% | 1h | 4.4376 | −0.117% | $6K | $12K | 10x | as long as short |
| RISEx NEAR/USDC | +0.1259% | 1h | 4.4354 | −0.167% | $678K | $1.4M | 10x | as long as short |
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
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
BloFin NEAR-USDT
Kalshi KXNEARPERP
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
Extended NEAR-USD
Coinbase International NEAR-PERP-INTX
ApeX Omni NEARUSDT
01 Exchange NEARUSD
Nado NEAR-PERP
Backpack NEAR_USDC_PERP
Kraken Futures PF_NEARUSD
Hyperliquid NEAR
Arcus NEAR-USD
Deribit NEAR_USDC-PERPETUAL
Lighter RH NEAR
Pacifica NEAR
Aftermath Perps NEARUSD
RISEx NEAR/USDC