NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0054%/8h= +5.9% APRnext payment +$0.07 per $10,000 · paid last 24h +0.075%

Price spread now: Lighter against Phoenix−0.698%74s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as 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−$310.308% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.697%+$70 · spread now −0.698%, 7d avg −0.036%

Together, before fees+0.755%+ Points / potential airdropLighter: Season 3 · farm board+$76 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.662% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.698% now, against its 7-day average of −0.036%). If the spread goes back, that is −$66 on $10k: about 41 days of funding at the current rate (+$2 a day). 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	Phoenix NEAR	4.4453	0.0794	pay 0.0099% / 1h	37m 48s	$1.8M	$2.8M	10x
Short	Lighter NEAR	4.4143	0.0848	get 0.0106% / 1h	37m 48s	$17.8M	$26.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.698%Rate

Funding earned: $11.37
Price spread: −0.698% → −0.036%: −$66.18
Slippage, 4 orders: −$23.82
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$85.63
Costs to cover: 0.308%
Break-even: 59.7 days

Slippage from Phoenix: live order book, 6 min ago; Lighter: live order book, 6 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, 6 min ago	0.90 bp	12.3 bp −$12	51.3 bp −$513	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.49 bp	5.1 bp −$5	22.0 bp −$220	80.2 bp −$8,021	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	4.4161	−0.656%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4177	−0.621%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4146	−0.690%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4209	−0.549%	$607K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	−0.683%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.845%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4220	−0.524%	$117K	$515K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4136	−0.712%	$422K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4051	−0.905%	$269.4M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4013	−0.990%	$221.1M	$424.4M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3990	−1.042%	$62.6M	$298.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.218%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4008	−1.001%	$31.9M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4030	−0.952%	$73.8M	$148.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4050	−0.907%	$54.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3996	−1.028%	$72.3M	$130.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4040	−0.929%	—	$146.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	+0.256%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	+0.265%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+0.342%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4600	+0.331%	$171K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4221	−0.522%	$238K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4122	−0.745%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4290	−0.367%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4094	−0.808%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	−0.659%	$460K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4130	−0.727%	$3.8M	$8.5M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4196	−0.578%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4143	−0.698%	$205K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0154%	1h	4.4053	−0.900%	$363.5M	$324.6M	10x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.3974	−1.078%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0204%	1h	4.4083	−0.832%	$1.3M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4190	−0.592%	$13.9M	$32.9M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4246	−0.466%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0290%	8h	4.4099	−0.795%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0330% / S −0.0206%	1h	4.4132	−0.722%	$240K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0339%	1h	4.4133	−0.720%	$1.9M	$6.8M	25x	as long as short
Lighter RH NEAR	+0.0464%	1h	4.4117	−0.756%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0553%	1h	4.4185	−0.603%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4600	+0.331%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4103	−0.787%	$8.2M	$39.9M	50x	as long as short
Phoenix NEARlong	+0.0794%	1h	4.4453	long leg	$1.8M	$2.8M	10x
Lighter NEARshort	+0.0848%	1h	4.4143	−0.698%	$17.8M	$26.3M	15x
RISEx NEAR/USDC	+0.0926%	1h	4.4262	−0.429%	$562K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1549%	1h	4.4442	−0.024%	$6K	$12K	10x	as long as short