Funding you earn now, next payment 07:00 UTC+0.0933%/8h= +102.1% APRnext payment +$1.17 per $10,000 · paid last 24h +0.051%
Price spread now: Phoenix against Kraken Futures+0.211%71s7-day average +0.150% · you sell dearer than you buy
Net, funding: paid 7d − costs+$3as 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−$520.521% of the position
Funding, last 7 days+0.551%+$55 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.211%, 7d avg +0.150%
=Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Phoenix is 0.061% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.150%. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.551% in total (about 28.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.17 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_NEARUSD | 4.3610 | 0.0017 | pay 0.0002% / 1h | 2m 08s | $7.2M | $38.7M | 50x |
| Short | Phoenix NEAR | 4.3702 | 0.0949 | get 0.0119% / 1h | 2m 08s | $1.8M | $2.4M | 10x |
Kraken Futures PF_NEARUSD
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. 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
- $195.85
- Price spread: +0.211% → +0.150%
- $6.09
- Slippage, 4 orders
- −$35.11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $149.83
- Costs to cover
- 0.521%
- Break-even
- 1.6 days
Slippage from Kraken Futures: live order book, 2 min ago; Phoenix: live order book, 1 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 Kraken Futures live order book, 2 min ago | 6.90 bp | 15.0 bp −$15 | 20.7 bp −$207 | 50.9 bp −$5,091 | 6051.0 bp −$3.03M |
| Sell Phoenix live order book, 1 min ago | 0.91 bp | 11.8 bp −$12 | 29.3 bp −$293 | 1178.1 bp −$117.8K | 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 | 4.3597 | −0.031% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3534 | −0.174% | $107K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3561 | −0.112% | $163K | — | 150x | as long as short |
| Kraken Futures PF_NEARUSDlong | +0.0017% | 1h | 4.3610 | long leg | $7.2M | $38.7M | 50x | |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.045% | $578 | $301K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3530 | −0.183% | $114K | $500K | 50x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3560 | −0.114% | $219.5M | $430.0M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3550 | −0.137% | $61.5M | $295.7M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3750 | +0.321% | $249K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3513 | −0.222% | $35.8M | $63.2M | 75x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3580 | −0.069% | $52.8M | $45.9M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3563 | −0.108% | $72.0M | $127.9M | 75x | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3549 | −0.139% | $8.9M | $18.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3722 | +0.258% | $253K | $896K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3681 | +0.164% | $1.4M | $1.6M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3680 | +0.161% | $167K | $816K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3550 | −0.137% | $272K | $4.1M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3579 | −0.071% | $58K | $235K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3640 | +0.069% | $1K | $1.3M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3610 | 0.000% | $5K | $50K | 10x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3590 | −0.046% | $3.5M | $8.2M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.3521 | −0.203% | $31K | $585 | 10x | as long as short |
| Aster NEARUSDT | +0.0102% | 8h | 4.3590 | −0.046% | $2.7M | $4.8M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3569 | −0.095% | $3.6M | $16.4M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0120% | 1h | 4.3584 | −0.059% | $203K | $40K | 3x | as long as short |
| Hyperliquid NEAR | +0.0130% | 1h | 4.3556 | −0.124% | $350.9M | $316.3M | 10x | as long as short |
| Binance NEARUSDT | +0.0142% | 8h | 4.3571 | −0.090% | $263.2M | $1.09B | 75x | as long as short |
| MEXC NEAR_USDT | +0.0144% | 8h | 4.3560 | −0.114% | $88.7M | $154.7M | 200x | as long as short |
| BingX NEAR-USDT | +0.0155% | 8h | 4.3590 | −0.046% | — | $83.2M | — | as long as short |
| HTX NEAR-USDT | +0.0160% | 8h | 4.3680 | +0.161% | $465K | $3.8M | 75x | as long as short |
| Kalshi KXNEARPERP | +0.0167% | 8h | 4.3592 | −0.041% | $916K | $25.1M | 2.2x | as long as short |
| 01 Exchange NEARUSD | +0.0232% | 1h | 4.3561 | −0.112% | $13K | $7K | 10x | as long as short |
| BloFin NEAR-USDT | +0.0264% | 8h | 4.3630 | +0.046% | $13.4M | $32.1M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0342% / S −0.0242% | 1h | 4.3563 | −0.108% | $253K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0370% | 1h | 4.3505 | −0.241% | $1.6M | $3.2M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0474% | 1h | 4.3623 | +0.030% | $1.1M | $7.2M | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0488% | 1h | 4.3660 | +0.115% | $2.3M | $17.0M | 50x | as long as short |
| Lighter RH NEAR | +0.0512% | 1h | 4.3632 | +0.051% | $1.5M | $6.8M | 10x | as long as short |
| Lighter NEAR | +0.0560% | 1h | 4.3672 | +0.142% | $17.2M | $25.4M | 15x | as long as short |
| Arcus NEAR-USD | +0.0638% | 1h | 4.3570 | −0.092% | $228K | $1.5M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0944% | 1h | 4.3609 | −0.002% | $1.9M | $13.1M | 25x | as long as short |
| Pacifica NEAR | +0.0949% | 1h | 4.3538 | −0.166% | $410K | $1.4M | 10x | as long as short |
| Phoenix NEARshort | +0.0949% | 1h | 4.3702 | +0.211% | $1.8M | $2.4M | 10x | |
| RISEx NEAR/USDC | +0.0965% | 1h | 4.3559 | −0.118% | $604K | $1.4M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1121% | 1h | 4.3590 | −0.045% | $5K | $7K | 10x | as long as short |
KuCoin NEARUSDTM
Bitget NEARUSDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Aster NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Hyperliquid NEAR
Binance NEARUSDT
MEXC NEAR_USDT
BingX NEAR-USDT
HTX NEAR-USDT
Kalshi KXNEARPERP
01 Exchange NEARUSD
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
Backpack NEAR_USDC_PERP
Coinbase International NEAR-PERP-INTX
Lighter RH NEAR
Lighter NEAR
Arcus NEAR-USD
Deribit NEAR_USDC-PERPETUAL
Pacifica NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD