Funding you earn now, next payment 01:00 UTC−0.0492%/8h= −53.9% APRpaid last 24h −0.153%
Price spread now: Binance against Phoenix−1.285%85s7-day average −0.194% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as 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−$400.397% of the position
Funding, last 7 days−0.740%−$74 on $10k
+Price spread, last 7 days+1.137%+$114 · spread now −1.285%, 7d avg −0.194%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Binance is 1.091% cheaper against Phoenix than usual: you would sell low and buy high (−$109 if the spread goes back to its 7-day average of −0.194%). Swap the legs. The two prices were read 85 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 | 4.4597 | 0.0592 | pay 0.0074% / 1h | 18m 03s | $1.8M | $2.6M | 10x |
| Short | Binance NEARUSDT | 4.4024 | 0.0100 | get 0.0100% / 8h | 6h 18m | $266.9M | $1.08B | 75x |
Phoenix NEAR
Binance NEARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$103.36
- Price spread: −1.285% → −0.194%
- −$109.08
- Slippage, 4 orders
- −$22.67
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$252.11
- Costs to cover
- 0.397%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; Binance: live order book, 11 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 | 0.90 bp | 12.3 bp −$12 | 50.8 bp −$508 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 1.14 bp | 8.0 bp −$8 | 11.8 bp −$118 | 30.5 bp −$3,047 | 113.1 bp −$56.6K |
NEAR on 44 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 | 4.4307 | −0.651% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0064% | 1h | 4.4172 | −0.953% | $2.2M | $14.5M | 50x | as long as short |
| Phemex NEARUSDT | −0.0042% | 8h | 4.4170 | −0.957% | $3.9M | $8.2M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4376 | −0.495% | $109K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.4249 | −0.780% | $584K | $20.0M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.4307 | −0.650% | $197K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −7.146% | $578 | $302K | 12x | as long as short |
| Variational Omni NEAR | +0.0080% | 8h | 4.4757 | +0.358% | $8.6M | $18.5M | — | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4340 | −0.576% | $112K | $493K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.4402 | −0.437% | $417K | $1.2M | 10x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
Phemex NEARUSDT
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Variational Omni NEAR
Popdex NEARUSDT
Pacifica NEARShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance NEARUSDTshort | +0.0100% | 8h | 4.4024 | −1.285% | $266.9M | $1.08B | 75x | |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4000 | −1.339% | $223.5M | $422.7M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4020 | −1.294% | $62.9M | $290.6M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.4400 | −0.442% | $211K | $1.7M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4050 | −1.227% | $251K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4033 | −1.265% | $31.8M | $62.4M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.4050 | −1.227% | $75.4M | $142.6M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4210 | −0.868% | $54.3M | $43.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.4009 | −1.318% | $72.5M | $126.1M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.4000 | −1.339% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4700 | +0.232% | $282K | $1.0M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.4339 | −0.578% | $1.5M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.4720 | +0.276% | $184K | $765K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4352 | −0.549% | $206K | $3.6M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4210 | −0.868% | $61K | $190K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4390 | −0.464% | $1K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.4190 | −0.913% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4280 | −0.711% | $458K | $3.9M | 75x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.4405 | −0.431% | $32K | $608 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3985 | −1.373% | $3.8M | $18.5M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.4325 | −0.610% | $206K | $34K | 3x | as long as short |
| Aster NEARUSDT | +0.0192% | 8h | 4.4230 | −0.823% | $3.1M | $5.8M | 50x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0214% | 1h | 4.4199 | −0.892% | $8.0M | $40.8M | 50x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0270% | 1h | 4.4217 | −0.852% | $1.9M | $4.2M | 25x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0353% / S −0.0248% | 1h | 4.4309 | −0.646% | $262K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0378% | 1h | 4.4333 | −0.591% | $1.9M | $3.1M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0424% | 1h | 4.4404 | −0.433% | $13K | $7K | 10x | as long as short |
| RISEx NEAR/USDC | +0.0509% | 1h | 4.4397 | −0.448% | $566K | $1.3M | 10x | as long as short |
| Phoenix NEARlong | +0.0592% | 1h | 4.4597 | long leg | $1.8M | $2.6M | 10x | |
| Lighter RH NEAR | +0.0848% | 1h | 4.4275 | −0.722% | $1.6M | $7.0M | 10x | as long as short |
| Hyperliquid NEAR | +0.0909% | 1h | 4.4072 | −1.177% | $371.7M | $308.7M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0948% | 1h | 4.4041 | −1.247% | $1.4M | $6.3M | 20x | as long as short |
| Aftermath Perps NEARUSD | +0.1584% | 1h | 4.4435 | −0.363% | $6K | $12K | 10x | as long as short |
| Lighter NEAR | +0.1744% | 1h | 4.4322 | −0.616% | $17.7M | $25.6M | 15x | as long as short |
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
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Paradex NEAR-USD-PERP
Extended NEAR-USD
Aevo NEAR-PERP
Aster NEARUSDT
Kraken Futures PF_NEARUSD
Deribit NEAR_USDC-PERPETUAL
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
01 Exchange NEARUSD
RISEx NEAR/USDC
Lighter RH NEAR
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
Aftermath Perps NEARUSD
Lighter NEAR