Funding you earn now, next payment 08:00 UTC+0.0618%/8h= +67.7% APRpaid last 24h +0.199%
Price spread now: Phoenix against Kalshi+1.067%74s7-day average +0.201% · you sell dearer than you buy
Net, funding: paid 7d − costs+$50as 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−$460.464% of the position
Funding, last 7 days+0.962%+$96 on $10k
+Price spread, last 7 days−0.905%−$90 · spread now +1.067%, 7d avg +0.201%
=Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Phoenix is 0.866% dearer against Kalshi than usual: you sell high and buy low: +$87 more if the spread goes back to its 7-day average of +0.201%. 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 | Kalshi KXNEARPERP | 4.4711 | 0.0122 | pay 0.0122% / 8h | 2h 53m | $763K | $25.6M | 2.2x |
| Short | Phoenix NEAR | 4.5188 | 0.0740 | get 0.0093% / 1h | 53m 44s | $1.7M | $2.5M | 10x |
Kalshi KXNEARPERP
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kalshi. 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
- $129.78
- Price spread: +1.067% → +0.201%
- $86.61
- Slippage, 4 orders
- −$29.43
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $169.96
- Costs to cover
- 0.464%
- Break-even
- from the start
Slippage from Kalshi: live order book, 5 min ago; Phoenix: live order book, 5 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 Kalshi live order book, 5 min ago | 8.71 bp | 13.7 bp −$14 | 21.0 bp −$210 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 5 min ago | 1.10 bp | 6.7 bp −$7 | 16.2 bp −$162 | 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 | 4.4656 | −0.123% | $2K | — | 20x | as long as short |
| Kraken Futures PF_NEARUSD | −0.0142% | 1h | 4.4608 | −0.229% | $7.3M | $38.6M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.4682 | −0.065% | $109K | $53K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.5437 | +1.624% | $170K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −7.383% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.4740 | +0.065% | $119K | $517K | 50x | as long as short |
| Hyperliquid NEAR | +0.0100% | 1h | 4.4689 | −0.049% | $361.4M | $322.7M | 10x | as long as short |
| Aster NEARUSDT | +0.0100% | 8h | 4.4702 | −0.020% | $2.6M | $4.8M | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.4685 | −0.059% | $271.5M | $1.10B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.4599 | −0.250% | $231.0M | $436.5M | 75x | as long as short |
Reya NEARRUSDPERP
Kraken Futures PF_NEARUSD
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Hyperliquid NEAR
Aster NEARUSDT
Binance NEARUSDT
Bybit NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.4580 | −0.293% | $63.6M | $306.3M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.4800 | +0.199% | $231K | $1.4M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.5308 | +1.335% | $261K | $3K | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.4689 | −0.049% | $38.4M | $61.4M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.4710 | −0.002% | $80.3M | $163.5M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.4730 | +0.042% | $53.2M | $45.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.4524 | −0.418% | $73.4M | $128.9M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.4610 | −0.226% | — | $6.7M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.5146 | +0.973% | $9.4M | $17.7M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.5342 | +1.411% | $268K | $881K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.5350 | +1.429% | $1.5M | $1.6M | 10x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.4673 | −0.085% | $278K | $4.0M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.4644 | −0.150% | $58K | $269K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.4690 | −0.047% | $2K | $1.3M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.4635 | −0.170% | $5K | $44K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.4650 | −0.136% | $472K | $3.8M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.4650 | −0.136% | $3.4M | $8.0M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.4677 | −0.077% | $3.8M | $15.0M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.4612 | −0.221% | $207K | $38K | 3x | as long as short |
| Paradex NEAR-USD-PERP | +0.0108% | 8h | 4.4723 | +0.026% | $32K | $413 | 10x | as long as short |
| Kalshi KXNEARPERPlong | +0.0122% | 8h | 4.4711 | long leg | $763K | $25.6M | 2.2x | |
| 01 Exchange NEARUSD | +0.0160% | 1h | 4.4742 | +0.069% | $13K | $5K | 10x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.4900 | +0.423% | $12.8M | $33.0M | 75x | as long as short |
| Lighter NEAR | +0.0288% | 1h | 4.4692 | −0.042% | $17.5M | $23.4M | 15x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0311% | 1h | 4.4626 | −0.190% | $1.9M | $13.1M | 25x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0341% / S −0.0235% | 1h | 4.4856 | +0.323% | $258K | — | 100x | as long as short |
| Lighter RH NEAR | +0.0376% | 1h | 4.4699 | −0.027% | $1.5M | $6.0M | 10x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0520% | 1h | 4.4731 | +0.045% | $2.3M | $17.8M | 50x | as long as short |
| RISEx NEAR/USDC | +0.0569% | 1h | 4.4749 | +0.086% | $635K | $1.6M | 10x | as long as short |
| Nado NEAR-PERP | +0.0625% | 1h | 4.4675 | −0.081% | $1.7M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0654% | 1h | 4.4712 | +0.002% | $1.1M | $7.2M | 20x | as long as short |
| Phoenix NEARshort | +0.0740% | 1h | 4.5188 | +1.067% | $1.7M | $2.5M | 10x | |
| Pacifica NEAR | +0.0883% | 1h | 4.4726 | +0.034% | $422K | $1.4M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0995% | 1h | 4.5320 | +1.362% | $169K | $827K | 50x | as long as short |
| Aftermath Perps NEARUSD | +0.1257% | 1h | 4.5143 | +0.966% | $6K | $7K | 10x | as long as short |
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Phemex NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Paradex NEAR-USD-PERP
01 Exchange NEARUSD
BloFin NEAR-USDT
Lighter NEAR
Deribit NEAR_USDC-PERPETUAL
GMX NEAR/USD [ETH-USDC]
Lighter RH NEAR
Coinbase International NEAR-PERP-INTX
RISEx NEAR/USDC
Nado NEAR-PERP
Backpack NEAR_USDC_PERP
Pacifica NEAR
ApeX Omni NEARUSDT
Aftermath Perps NEARUSD