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Funding arb · Price arb /

NEAR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0442%/8h= +48.4% APRpaid last 24h +0.163%
Price spread now: Phoenix against Bybit−0.248%115s7-day average +0.227% · you buy dearer than you sell
Net, funding: paid 7d − costs+$34as 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−$410.408% of the position
Long on BybitShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.751%+$75 on $10k
Price spread, last 7 days+0.420%+$42 · spread now −0.248%, 7d avg +0.227%
Together, before fees+1.171%+$117 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.475% cheaper against Bybit than usual: you would sell low and buy high (spread −0.248% now, against its 7-day average of +0.227%). If the spread goes back, that is −$47 on $10k: about 3.6 days of funding at the current rate (+$13 a day). The two prices were read 115 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit NEARUSDT4.15500.0100pay 0.0100% / 8h1h 45m$211.9M$423.0M75x
ShortPhoenix NEAR4.14470.0542get 0.0068% / 1h45m 36s$1.7M$2.7M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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

Funding earned
$92.91
Price spread: −0.248% → +0.227%
−$47.48
Slippage, 4 orders
−$22.82
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$4.62
Costs to cover
0.408%
Break-even
6.7 days
Slippage from Bybit: live order book, 4 min ago; Phoenix: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 4 min ago1.20 bp8.3 bp −$813.2 bp −$13227.0 bp −$2,697doesn't fit
Sell Phoenix live order book, 3 min ago0.96 bp11.8 bp −$1223.6 bp −$236doesn't fitdoesn't fit

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya NEARRUSDPERP−0.0171%1h4.1556+0.015%$2K—20xas long as short
Coinbase International NEAR-PERP-INTX−0.0032%1h4.1481−0.166%$2.1M$12.6M50xas long as short
Injective NEAR/USDC PERP−0.0002%1h4.1410−0.337%$578$302K12xas long as short
dYdX NEAR-USD0.0000%1h4.1585+0.085%$107K$56K10xas long as short
Kalshi KXNEARPERP0.0000%8h4.1516−0.082%$441K$18.3M2.2xas long as short
gTrade (Gains Network) NEAR/USDL +0.0004% / S −0.0004%1h4.1473−0.185%$205K—150xas long as short
Kraken Futures PF_NEARUSD+0.0049%1h4.1575+0.061%$7.5M$36.8M50xas long as short
01 Exchange NEARUSD+0.0064%1h4.1577+0.065%$12K$7K10xas long as short
Lighter NEAR+0.0096%1h4.1638+0.213%$15.3M$22.5M15xas long as short
Popdex NEARUSDT+0.0096%1h4.1570+0.048%$111K$483K50xas long as short
Show all 45 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_NEAR_USDC+0.0099%8h4.1551+0.002%$53K$156K20xas long as short
Paradex NEAR-USD-PERP+0.0100%8h4.1575+0.060%$30K$64710xas long as short
Aster NEARUSDT+0.0100%8h4.1644+0.226%$2.9M$5.7M50xas long as short
Pacifica NEAR+0.0100%1h4.1611+0.148%$350K$1.2M10xas long as short
Binance NEARUSDT+0.0100%8h4.1575+0.059%$237.9M$1.07B75xas long as short
Bybit NEARUSDTlong+0.0100%8h4.1550long leg$211.9M$423.0M75x
OKX NEAR-USDT-SWAP+0.0100%8h4.1560+0.024%$56.9M$274.7M50xas long as short
Arcus NEAR-USD+0.0100%1h4.1580+0.072%$308K$1.6M10xas long as short
Gate NEAR_USDT+0.0100%8h4.1594+0.106%$29.7M$56.9M75xas long as short
MEXC NEAR_USDT+0.0100%8h4.1570+0.048%$81.8M$141.0M200xas long as short
KuCoin NEARUSDTM+0.0100%8h4.1610+0.144%$55.0M$44.6M75xas long as short
Bitget NEARUSDT+0.0100%8h4.1567+0.041%$69.0M$125.7M75xas long as short
BingX NEAR-USDC+0.0100%8h4.15500.000%—$6.6M—as long as short
Variational Omni NEAR+0.0100%8h4.1461−0.213%$7.7M$18.6M—as long as short
edgeX NEARUSDC+0.0100%4h4.1534−0.038%$237K$1.2M20xas long as short
GRVT NEAR_USDT_Perp+0.0100%8h4.1516−0.082%$1.4M$1.3M10xas long as short
ApeX Omni NEARUSDT+0.0100%1h4.1500−0.120%$182K$792K50xas long as short
Polymarket Perps NEAR-USD+0.0100%1h4.1604+0.130%$198K$3.1M10xas long as short
SunX NEAR-USDT+0.0100%8h4.1600+0.120%$2K$1.4M20xas long as short
SoDEX NEAR-USD+0.0100%1h4.1540−0.024%$5K$46K10xas long as short
Phemex NEARUSDT+0.0100%8h4.1540−0.024%$3.8M$8.2M50xas long as short
Bulk NEAR-USD+0.0100%1h4.1450−0.241%$236K$4K10xas long as short
Lighter RH NEAR+0.0104%1h4.1638+0.212%$1.4M$6.9M10xas long as short
Extended NEAR-USD+0.0104%1h4.1540−0.024%$3.8M$14.6M25xas long as short
Aevo NEAR-PERP+0.0104%1h4.1537−0.031%$200K$62K3xas long as short
BloFin NEAR-USDT+0.0220%8h4.1500−0.120%$12.3M$33.4M75xas long as short
Hyperliquid NEAR+0.0321%1h4.1663+0.272%$350.1M$298.4M10xas long as short
RISEx NEAR/USDC+0.0364%1h4.1592+0.100%$412K$1.2M10xas long as short
GMX NEAR/USD [ETH-USDC]L +0.0379% / S −0.0327%1h4.1474−0.184%$279K—100xas long as short
Deribit NEAR_USDC-PERPETUAL+0.0448%1h4.1585+0.084%$1.8M$2.1M25xas long as short
Backpack NEAR_USDC_PERP+0.0449%1h4.1606+0.135%$1.2M$5.7M20xas long as short
Nado NEAR-PERP+0.0514%1h4.1557+0.017%$1.8M$3.5M10xas long as short
Phoenix NEARshort+0.0542%1h4.1447−0.248%$1.7M$2.7M10x
Aftermath Perps NEARUSD+0.0910%1h4.1475−0.179%$5K$11K10xas long as short
HTX NEAR-USDT+0.1010%8h4.1610+0.144%$446K$3.6M75xas long as short