Funding you earn now, next payment 01:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.153%
Price spread now: Phoenix against Phemex+0.794%73s7-day average +0.167% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as 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−$1231.226% of the position
Funding, last 7 days+0.765%+$77 on $10k
+Price spread, last 3 days (all we have)−0.577%−$58 · spread now +0.794%, 7d avg +0.167%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phoenix is 0.627% dearer against Phemex than usual: you sell high and buy low: +$63 more if the spread goes back to its 7-day average of +0.167%. The two prices were read 73 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 | Phemex NEARUSDT | 4.3190 | 0.0100 | pay 0.0100% / 8h | 6h 40m | $3.8M | $8.3M | 50x |
| Short | Phoenix NEAR | 4.3533 | 0.0592 | get 0.0074% / 1h | 40m 06s | $1.8M | $2.6M | 10x |
Phemex NEARUSDT
Phoenix NEARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $103.36
- Price spread: +0.794% → +0.167%
- $62.74
- Slippage, 4 orders
- −$103.65
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $43.45
- Costs to cover
- 1.226%
- Break-even
- 4.1 days
Slippage from Phemex: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phemex live order book, 4 min ago | 11.57 bp | 30.0 bp −$30 | 68.4 bp −$684 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 3 min ago | 0.93 bp | 10.6 bp −$11 | 14.3 bp −$143 | 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 | 4.2898 | −0.675% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0064% | 1h | 4.3012 | −0.412% | $2.1M | $13.5M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3049 | −0.328% | $107K | $69K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.2986 | −0.472% | $505K | $19.5M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0004% | 1h | 4.2941 | −0.578% | $199K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −4.121% | $578 | $302K | 12x | as long as short |
| Variational Omni NEAR | +0.0043% | 8h | 4.3108 | −0.189% | $8.2M | $19.1M | — | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.2910 | −0.648% | $114K | $478K | 50x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0099% | 8h | 4.3049 | −0.326% | $57K | $161K | 20x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.3039 | −0.350% | $407K | $1.2M | 10x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Variational Omni NEAR
Popdex NEARUSDT
Orderly PERP_NEAR_USDC
Pacifica NEARShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance NEARUSDT | +0.0100% | 8h | 4.3054 | −0.314% | $257.7M | $1.06B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3034 | −0.361% | $218.7M | $419.5M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3030 | −0.370% | $60.8M | $278.8M | 50x | as long as short |
| Arcus NEAR-USD | +0.0100% | 1h | 4.2980 | −0.486% | $204K | $1.8M | 10x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3300 | +0.255% | $247K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3122 | −0.157% | $30.9M | $60.5M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3200 | +0.023% | $75.5M | $137.8M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3190 | 0.000% | $55.5M | $42.7M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3037 | −0.354% | $71.3M | $123.6M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.3130 | −0.139% | — | $6.6M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.3211 | +0.049% | $259K | $1.0M | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3386 | +0.454% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3250 | +0.139% | $179K | $776K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.2901 | −0.669% | $212K | $3.5M | 10x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3000 | −0.440% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3120 | −0.162% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3200 | +0.023% | $440K | $3.9M | 75x | as long as short |
| Phemex NEARUSDTlong | +0.0100% | 8h | 4.3190 | long leg | $3.8M | $8.3M | 50x | |
| Paradex NEAR-USD-PERP | +0.0100% | 8h | 4.3018 | −0.398% | $31K | $608 | 10x | as long as short |
| Aster NEARUSDT | +0.0101% | 8h | 4.3066 | −0.288% | $3.0M | $5.8M | 50x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.3095 | −0.221% | $3.8M | $17.4M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3052 | −0.320% | $200K | $34K | 3x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0219% | 1h | 4.3172 | −0.042% | $7.9M | $39.9M | 50x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.3220 | +0.069% | $13.2M | $27.6M | 75x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0358% / S −0.0278% | 1h | 4.2947 | −0.563% | $257K | — | 100x | as long as short |
| 01 Exchange NEARUSD | +0.0376% | 1h | 4.2929 | −0.604% | $13K | $7K | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0378% | 1h | 4.3053 | −0.317% | $1.9M | $4.1M | 25x | as long as short |
| Nado NEAR-PERP | +0.0450% | 1h | 4.2895 | −0.683% | $1.9M | $3.0M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0509% | 1h | 4.2946 | −0.565% | $536K | $1.3M | 10x | as long as short |
| Phoenix NEARshort | +0.0592% | 1h | 4.3533 | +0.794% | $1.8M | $2.6M | 10x | |
| Lighter RH NEAR | +0.0640% | 1h | 4.3196 | +0.014% | $1.6M | $6.9M | 10x | as long as short |
| Hyperliquid NEAR | +0.0753% | 1h | 4.3118 | −0.167% | $362.4M | $305.9M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0772% | 1h | 4.3166 | −0.056% | $1.4M | $6.0M | 20x | as long as short |
| Lighter NEAR | +0.1416% | 1h | 4.3247 | +0.132% | $17.3M | $24.7M | 15x | as long as short |
| Aftermath Perps NEARUSD | +0.1499% | 1h | 4.3160 | −0.069% | $5K | $12K | 10x | as long as short |
Binance NEARUSDT
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Arcus NEAR-USD
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Paradex NEAR-USD-PERP
Aster NEARUSDT
Extended NEAR-USD
Aevo NEAR-PERP
Kraken Futures PF_NEARUSD
BloFin NEAR-USDT
GMX NEAR/USD [ETH-USDC]
01 Exchange NEARUSD
Deribit NEAR_USDC-PERPETUAL
Nado NEAR-PERP
RISEx NEAR/USDC
Lighter RH NEAR
Hyperliquid NEAR
Backpack NEAR_USDC_PERP
Lighter NEAR
Aftermath Perps NEARUSD