NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0463%/8h= +50.7% APRnext payment +$0.58 per $10,000 · paid last 24h +0.184%

Price spread now: Phoenix against dYdX−0.060%106s7-day average +0.227% · you buy dearer than you sell

Net, funding: paid 7d − costs−$221as 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−$3113.112% of the position

Long on dYdX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.901%+$90 on $10k

Price spread, last 4 days (all we have)+1.680%+$168 · spread now −0.060%, 7d avg +0.227%

Together, before fees+2.581%+$258 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.287% cheaper against dYdX than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.227%). If the spread goes back, that is −$29 on $10k: about 2.1 days of funding at the current rate (+$14 a day). The two prices were read 106 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	dYdX NEAR-USD	4.2743	0	get 0.0000% / 1h	39m 45s	$111K	$59K	10x
Short	Phoenix NEAR	4.2717	0.0463	get 0.0058% / 1h	39m 45s	$1.8M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against dYdX. 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 dYdXbpFee PhoenixbpOrdersPrice spread, now −0.060%Rate

Funding earned: $97.29
Price spread: −0.060% → +0.227%: −$28.67
Slippage, 4 orders: −$294.15
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$242.53
Costs to cover: 3.112%
Break-even: 24.4 days

Slippage from dYdX: live order book, 39 min ago; Phoenix: live order book, 4 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 dYdX live order book, 39 min ago	79.83 bp	201.0 bp −$201	203.7 bp −$2,037	203.9 bp −$20.4K	214.8 bp −$107.4K
Sell Phoenix live order book, 4 min ago	0.93 bp	11.8 bp −$12	20.7 bp −$207	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	4.2775	+0.075%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2695	−0.112%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.2743	long leg	$111K	$59K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.2676	−0.156%	$393K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2792	+0.115%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.118%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0081%	8h	4.2712	−0.072%	$218.9M	$422.0M	75x	as long as short
Variational Omni NEAR	+0.0087%	8h	4.2660	−0.194%	$7.8M	$18.2M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2800	+0.134%	$109K	$496K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2721	−0.051%	$31K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2790	+0.110%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2702	−0.096%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2754	+0.028%	$253.2M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2710	−0.077%	$60.9M	$285.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2750	+0.017%	$202K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2674	−0.161%	$243K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2737	−0.013%	$30.1M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	−0.006%	$78.3M	$141.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	+0.064%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2736	−0.016%	$71.0M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2740	−0.006%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2703	−0.092%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2680	−0.147%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	−0.077%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2831	+0.207%	$199K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2787	+0.104%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2830	+0.204%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2760	+0.040%	$13K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2780	+0.087%	$3.9M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2717	−0.061%	$3.9M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2777	+0.079%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2788	+0.106%	$7.6M	$37.1M	50x	as long as short
01 Exchange NEARUSD	+0.0152%	1h	4.2809	+0.155%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2700	−0.100%	$13.0M	$30.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0313%	1h	4.2792	+0.115%	$274K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.2818	+0.176%	$1.5M	$7.0M	10x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2820	+0.180%	$413K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0437%	1h	4.2795	+0.122%	$1.4M	$5.6M	20x	as long as short
Phoenix NEARshort	+0.0463%	1h	4.2717	−0.060%	$1.8M	$2.7M	10x
Deribit NEAR_USDC-PERPETUAL	+0.0498%	1h	4.2822	+0.185%	$1.9M	$2.3M	25x	as long as short
Nado NEAR-PERP	+0.0766%	1h	4.2765	+0.052%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0857%	8h	4.2880	+0.321%	$459K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.0980%	1h	4.2803	+0.141%	$367.7M	$298.0M	10x	as long as short
Aftermath Perps NEARUSD	+0.1191%	1h	4.2806	+0.148%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.2879	+0.318%	$16.5M	$23.7M	15x	as long as short