Funding you earn now, next payment 05:00 UTC+0.0846%/8h= +92.6% APRpaid last 24h +0.074%
Price spread now: Deribit against Phemex+0.018%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$570.572% of the position
Funding, last 7 days+0.414%+$41 on $10k
+Price spread, last 4 days (all we have)+0.005%+$1 · spread now +0.018%, 7d avg +0.062%
=Funding pays, the price is against you. Deribit is 0.043% cheaper against Phemex than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.062%). If the spread goes back, that is −$4 on $10k: about 4 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.414% in total) that is about 18 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.414% in total (about 21.6% a year). A funding rate is set anew for every payment. 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 | Phemex NEARUSDT | 4.3520 | 0.0100 | pay 0.0100% / 8h | 3h 15m | $3.7M | $8.3M | 50x |
| Short | Deribit NEAR_USDC-PERPETUAL | 4.3528 | 0.0946 | get 0.0118% / 1h | 15m 59s | $2.0M | $9.6M | 25x |
Phemex NEARUSDT
Deribit NEAR_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- $177.66
- Price spread: +0.018% → +0.062%
- −$4.32
- Slippage, 4 orders
- −$38.18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $116.16
- Costs to cover
- 0.572%
- Break-even
- 2.4 days
Slippage from Phemex: live order book, 3 min ago; Deribit: live order book, 3 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 Phemex live order book, 3 min ago | 4.60 bp | 17.4 bp −$17 | 43.7 bp −$437 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 3 min ago | 4.72 bp | 8.5 bp −$8 | 14.4 bp −$144 | 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 | 4.3459 | −0.139% | $2K | — | 20x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3473 | −0.107% | $107K | $68K | 10x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3449 | −0.164% | $163K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −4.848% | $578 | $301K | 12x | as long as short |
| Coinbase International NEAR-PERP-INTX | +0.0056% | 1h | 4.3494 | −0.060% | $2.3M | $15.9M | 50x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3460 | −0.138% | $110K | $502K | 50x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.3530 | +0.023% | $266.3M | $1.09B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3485 | −0.080% | $215.1M | $425.9M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3490 | −0.069% | $61.6M | $289.7M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3250 | −0.620% | $246K | −$0 | 10x | as long as short |
Reya NEARRUSDPERP
dYdX NEAR-USD
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Coinbase International NEAR-PERP-INTX
Popdex NEARUSDT
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USDShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate NEAR_USDT | +0.0100% | 8h | 4.3486 | −0.078% | $32.2M | $61.9M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3490 | −0.069% | $74.1M | $146.1M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3520 | 0.000% | $54.0M | $45.8M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3486 | −0.078% | $71.7M | $127.7M | 75x | as long as short |
| BingX NEAR-USDT | +0.0100% | 8h | 4.3500 | −0.046% | — | $144.7M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3447 | −0.167% | $8.2M | $18.0M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3370 | −0.344% | $253K | $949K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3370 | −0.345% | $1.4M | $1.5M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3460 | −0.138% | $167K | $796K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3492 | −0.064% | $274K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3505 | −0.034% | $58K | $246K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3560 | +0.092% | $2K | $1.4M | 20x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3630 | +0.253% | $473K | $3.9M | 75x | as long as short |
| Phemex NEARUSDTlong | +0.0100% | 8h | 4.3520 | long leg | $3.7M | $8.3M | 50x | |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.3476 | −0.101% | $31K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3515 | −0.011% | $202K | $37K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.3600 | +0.184% | $13.6M | $32.3M | 75x | as long as short |
| Pacifica NEAR | +0.0263% | 1h | 4.3504 | −0.037% | $402K | $1.3M | 10x | as long as short |
| Kalshi KXNEARPERP | +0.0282% | 8h | 4.3490 | −0.069% | $873K | $23.4M | 2.2x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0324% / S −0.0198% | 1h | 4.3447 | −0.168% | $235K | — | 100x | as long as short |
| Aster NEARUSDT | +0.0336% | 8h | 4.3520 | 0.000% | $2.9M | $5.5M | 50x | as long as short |
| SoDEX NEAR-USD | +0.0364% | 1h | 4.3485 | −0.080% | $6K | $53K | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0520% | 1h | 4.3532 | +0.028% | $13K | $7K | 10x | as long as short |
| Nado NEAR-PERP | +0.0559% | 1h | 4.3453 | −0.155% | $1.8M | $3.1M | 10x | as long as short |
| Hyperliquid NEAR | +0.0587% | 1h | 4.3538 | +0.041% | $356.5M | $314.3M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0597% | 1h | 4.3520 | 0.000% | $1.3M | $6.7M | 20x | as long as short |
| Extended NEAR-USD | +0.0600% | 1h | 4.3473 | −0.109% | $3.8M | $20.0M | 25x | as long as short |
| Arcus NEAR-USD | +0.0627% | 1h | 4.3520 | 0.000% | $214K | $1.6M | 10x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0709% | 1h | 4.3495 | −0.058% | $7.6M | $39.0M | 50x | as long as short |
| Lighter RH NEAR | +0.0920% | 1h | 4.3554 | +0.078% | $1.5M | $7.4M | 10x | as long as short |
| Phoenix NEAR | +0.0941% | 1h | 4.3602 | +0.188% | $1.8M | $2.8M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUALshort | +0.0946% | 1h | 4.3528 | +0.018% | $2.0M | $9.6M | 25x | |
| Lighter NEAR | +0.1096% | 1h | 4.3558 | +0.088% | $17.6M | $25.1M | 15x | as long as short |
| RISEx NEAR/USDC | +0.1162% | 1h | 4.3502 | −0.041% | $687K | $1.3M | 10x | as long as short |
| Aftermath Perps NEARUSD | +0.1578% | 1h | 4.3494 | −0.061% | $5K | $13K | 10x | as long as short |
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDT
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
HTX NEAR-USDT
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
BloFin NEAR-USDT
Pacifica NEAR
Kalshi KXNEARPERP
GMX NEAR/USD [ETH-USDC]
Aster NEARUSDT
SoDEX NEAR-USD
01 Exchange NEARUSD
Nado NEAR-PERP
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
Extended NEAR-USD
Arcus NEAR-USD
Kraken Futures PF_NEARUSD
Lighter RH NEAR
Phoenix NEAR
Lighter NEAR
RISEx NEAR/USDC
Aftermath Perps NEARUSD