Funding you earn now, next payment 01:00 UTC−0.0080%/8h= −8.7% APRnext payment −$0.10 per $10,000 · paid last 24h +0.117%
Price spread now: Phoenix against Lighter RH−0.545%75s7-day average +0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$3as 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−$320.321% of the position
Funding, last 7 days+0.293%+$29 on $10k
+Price spread, last 7 days+0.663%+$66 · spread now −0.545%, 7d avg +0.066%
=Together, before fees+0.956%+ Points / potential airdropLighter RH: Points live · farm board+$96 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.611% cheaper against Lighter RH than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of +0.066%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.293%, so the current rate has only just turned against you. The two prices were read 75 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 RH NEAR | 4.3672 | 0.0672 | pay 0.0084% / 1h | 36m 06s | $1.6M | $6.9M | 10x |
| Short | Phoenix NEAR | 4.3434 | 0.0592 | get 0.0074% / 1h | 36m 06s | $1.8M | $2.6M | 10x |
Lighter RH NEAR
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter RH. 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
- −$16.76
- Price spread: −0.545% → +0.066%
- −$61.11
- Slippage, 4 orders
- −$25.14
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$110.01
- Costs to cover
- 0.321%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 2 min ago; Phoenix: live order book, 2 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 RH live order book, 2 min ago | 2.19 bp | 4.7 bp −$5 | 11.1 bp −$111 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 2 min ago | 0.92 bp | 11.8 bp −$12 | 43.1 bp −$431 | 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 | 4.3548 | −0.283% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0064% | 1h | 4.3611 | −0.140% | $2.2M | $13.8M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3444 | −0.523% | $108K | $69K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.3580 | −0.211% | $522K | $19.6M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.3549 | −0.282% | $202K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.180% | $578 | $302K | 12x | as long as short |
| Variational Omni NEAR | +0.0052% | 8h | 4.3548 | −0.283% | $8.3M | $19.1M | — | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3540 | −0.302% | $116K | $478K | 50x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0099% | 8h | 4.3583 | −0.204% | $58K | $161K | 20x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.3485 | −0.429% | $411K | $1.2M | 10x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Variational Omni NEAR
Popdex NEARUSDT
Orderly PERP_NEAR_USDC
Pacifica NEARShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance NEARUSDT | +0.0100% | 8h | 4.3580 | −0.211% | $260.4M | $1.07B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3561 | −0.254% | $221.4M | $419.7M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3560 | −0.256% | $61.5M | $282.4M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.3560 | −0.256% | $206K | $1.8M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3449 | −0.510% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3585 | −0.199% | $31.3M | $60.7M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3630 | −0.096% | $75.6M | $138.2M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3630 | −0.096% | $56.0M | $42.8M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3561 | −0.254% | $72.2M | $123.7M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.3580 | −0.211% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3236 | −0.998% | $260K | $1.0M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3339 | −0.761% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3230 | −1.012% | $179K | $775K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3575 | −0.222% | $214K | $3.5M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3610 | −0.142% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3571 | −0.231% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3700 | +0.064% | $445K | $3.9M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3580 | −0.211% | $3.9M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.3465 | −0.474% | $31K | $608 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3559 | −0.258% | $3.8M | $17.4M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3571 | −0.232% | $203K | $34K | 3x | as long as short |
| Aster NEARUSDT | +0.0114% | 8h | 4.3641 | −0.070% | $3.0M | $5.8M | 50x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0217% | 1h | 4.3584 | −0.201% | $7.7M | $40.3M | 50x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.3220 | −1.035% | $13.2M | $27.6M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0360% / S −0.0278% | 1h | 4.3545 | −0.290% | $261K | — | 100x | as long as short |
| 01 Exchange NEARUSD | +0.0368% | 1h | 4.3566 | −0.243% | $13K | $7K | 10x | as long as short |
| Nado NEAR-PERP | +0.0432% | 1h | 4.3510 | −0.371% | $1.9M | $3.1M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0509% | 1h | 4.3579 | −0.213% | $545K | $1.3M | 10x | as long as short |
| Phoenix NEARshort | +0.0592% | 1h | 4.3434 | −0.545% | $1.8M | $2.6M | 10x | |
| Lighter RH NEARlong | +0.0672% | 1h | 4.3672 | long leg | $1.6M | $6.9M | 10x | |
| Hyperliquid NEAR | +0.0759% | 1h | 4.3628 | −0.101% | $366.2M | $303.5M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0783% | 1h | 4.3607 | −0.149% | $1.9M | $4.1M | 25x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0805% | 1h | 4.3635 | −0.085% | $1.4M | $5.9M | 20x | as long as short |
| Aftermath Perps NEARUSD | +0.1440% | 1h | 4.3317 | −0.814% | $5K | $12K | 10x | as long as short |
| Lighter NEAR | +0.1480% | 1h | 4.3703 | +0.072% | $17.4M | $24.7M | 15x | as long as short |
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Extended NEAR-USD
Aevo NEAR-PERP
Aster NEARUSDT
Kraken Futures PF_NEARUSD
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
01 Exchange NEARUSD
Nado NEAR-PERP
RISEx NEAR/USDC
Hyperliquid NEAR
Deribit NEAR_USDC-PERPETUAL
Backpack NEAR_USDC_PERP
Aftermath Perps NEARUSD
Lighter NEAR