Funding you earn now, next payment 05:00 UTC−0.1000%/8h= −109.5% APRnext payment −$1.25 per $10,000 · paid last 24h −0.181%
Price spread now: Injective against Phoenix−6.399%7-day average +0.462% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.718%−$72 on $10k
+Price spread, last 4 days (all we have)+8.443%+$844 · spread now −6.399%, 7d avg +0.462%
=Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Injective is 6.861% cheaper against Phoenix than usual: you would sell low and buy high (−$686 if the spread goes back to its 7-day average of +0.462%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NEAR | 4.4241 | 0.1033 | pay 0.0129% / 1h | 4m 33s | $1.8M | $2.5M | 10x |
| Short | Injective NEAR/USDC PERP | 4.1410 | 0.0033 | get 0.0004% / 1h | 4m 33s | $578 | $301K | 12x |
Phoenix NEAR
Injective NEAR/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$209.97
- Price spread: −6.399% → +0.462%
- −$686.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$903.05
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 4 min ago; Injective: no order-book sample. 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 Phoenix live order book, 4 min ago | 0.91 bp | 12.3 bp −$12 | 51.1 bp −$511 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | 4.4098 | −0.324% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4099 | −0.322% | $109K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.4048 | −0.436% | $166K | — | 150x | as long as short |
| Injective NEAR/USDC PERPshort | +0.0033% | 1h | 4.1410 | −6.399% | $578 | $301K | 12x | |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4170 | −0.160% | $117K | $497K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4140 | −0.228% | $221.8M | $423.0M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4140 | −0.228% | $62.4M | $294.3M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3500 | −1.675% | $248K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4130 | −0.251% | $33.7M | $61.3M | 75x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4150 | −0.206% | $53.2M | $46.0M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
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 | 4.4160 | −0.183% | $72.8M | $127.0M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.4197 | −0.099% | $8.9M | $18.4M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4038 | −0.460% | $257K | $964K | 20x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4140 | −0.228% | $283K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4068 | −0.391% | $57K | $243K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4130 | −0.251% | $1K | $1.3M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4180 | −0.138% | $468K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4070 | −0.387% | $3.6M | $8.3M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0102% | 8h | 4.4101 | −0.317% | $32K | $608 | 10x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0111% | 8h | 4.4060 | −0.409% | $1.5M | $1.5M | 10x | as long as short |
| Aevo NEAR-PERP | +0.0112% | 1h | 4.4080 | −0.364% | $205K | $40K | 3x | as long as short |
| BingX NEAR-USDT | +0.0133% | 8h | 4.4170 | −0.160% | — | $143.6M | — | as long as short |
| MEXC NEAR_USDT | +0.0142% | 8h | 4.4150 | −0.206% | $83.8M | $146.6M | 200x | as long as short |
| Binance NEARUSDT | +0.0144% | 8h | 4.4193 | −0.108% | $268.6M | $1.09B | 75x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0256% | 1h | 4.4121 | −0.271% | $2.3M | $16.3M | 50x | as long as short |
| BloFin NEAR-USDT | +0.0262% | 8h | 4.4150 | −0.206% | $13.3M | $32.6M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0314% / S −0.0201% | 1h | 4.4067 | −0.394% | $236K | — | 100x | as long as short |
| Kalshi KXNEARPERP | +0.0314% | 8h | 4.4234 | −0.016% | $1.0M | $24.7M | 2.2x | as long as short |
| Aster NEARUSDT | +0.0342% | 8h | 4.4180 | −0.138% | $2.9M | $5.2M | 50x | as long as short |
| Nado NEAR-PERP | +0.0391% | 1h | 4.4135 | −0.240% | $1.7M | $3.2M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0434% | 1h | 4.4030 | −0.477% | $168K | $797K | 50x | as long as short |
| Extended NEAR-USD | +0.0456% | 1h | 4.4139 | −0.231% | $3.7M | $19.2M | 25x | as long as short |
| SoDEX NEAR-USD | +0.0498% | 1h | 4.4085 | −0.353% | $5K | $52K | 10x | as long as short |
| Hyperliquid NEAR | +0.0676% | 1h | 4.4130 | −0.251% | $363.0M | $311.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0698% | 1h | 4.4127 | −0.258% | $1.3M | $6.5M | 20x | as long as short |
| 01 Exchange NEARUSD | +0.0712% | 1h | 4.4229 | −0.027% | $13K | $7K | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0717% | 1h | 4.4081 | −0.362% | $7.3M | $39.2M | 50x | as long as short |
| Arcus NEAR-USD | +0.0814% | 1h | 4.4210 | −0.070% | $226K | $1.6M | 10x | as long as short |
| Pacifica NEAR | +0.0847% | 1h | 4.4124 | −0.264% | $404K | $1.4M | 10x | as long as short |
| Lighter NEAR | +0.0928% | 1h | 4.4150 | −0.206% | $17.3M | $25.3M | 15x | as long as short |
| Phoenix NEARlong | +0.1033% | 1h | 4.4241 | long leg | $1.8M | $2.5M | 10x | |
| Lighter RH NEAR | +0.1112% | 1h | 4.4146 | −0.215% | $1.5M | $7.5M | 10x | as long as short |
| RISEx NEAR/USDC | +0.1220% | 1h | 4.4204 | −0.085% | $703K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1251% | 1h | 4.3841 | −0.905% | $5K | $12K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1681% | 1h | 4.4115 | −0.285% | $2.0M | $12.1M | 25x | 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
Coinbase International NEAR-PERP-INTX
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
Kalshi KXNEARPERP
Aster NEARUSDT
Nado NEAR-PERP
ApeX Omni NEARUSDT
Extended NEAR-USD
SoDEX NEAR-USD
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
01 Exchange NEARUSD
Kraken Futures PF_NEARUSD
Arcus NEAR-USD
Pacifica NEAR
Lighter NEAR
Lighter RH NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD
Deribit NEAR_USDC-PERPETUAL