NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0035%/8h= +3.8% APRnext payment +$0.04 per $10,000 · paid last 24h −0.080%

Price spread now: Deribit against Phoenix−0.007%70s7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as 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−$390.394% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now −0.007%, 7d avg −0.111%

Together, before fees−0.473%−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.105% dearer against Phoenix than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.111%. Mind the row above: over the last 7 days funding on this pair cost −0.370%, so the current rate has only just turned in your favour. The two prices were read 70 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	Phoenix NEAR	4.4318	0.1003	pay 0.0125% / 1h	20m 01s	$1.8M	$2.5M	10x
Short	Deribit NEAR_USDC-PERPETUAL	4.4315	0.1038	get 0.0130% / 1h	20m 01s	$1.9M	$13.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phoenix. 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 PhoenixbpFee DeribitbpOrdersPrice spread, now −0.007%Rate

Funding earned: $7.3
Price spread: −0.007% → −0.111%: $10.47
Slippage, 4 orders: −$25.35
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.59
Costs to cover: 0.394%
Break-even: 27.7 days

Slippage from Phoenix: live order book, 4 min ago; Deribit: 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 Phoenix live order book, 4 min ago	0.90 bp	12.4 bp −$12	51.1 bp −$511	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	2.71 bp	8.9 bp −$9	15.1 bp −$151	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	4.4222	−0.216%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4193	−0.281%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4100	−0.492%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.562%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4220	−0.221%	$112K	$485K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4239	−0.178%	$224.2M	$429.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4230	−0.199%	$62.6M	$295.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4150	−0.379%	$252K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4217	−0.228%	$35.7M	$61.9M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4260	−0.131%	$53.5M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4239	−0.178%	$72.8M	$127.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4097	−0.498%	$8.8M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4205	−0.256%	$258K	$916K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4210	−0.244%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4263	−0.124%	$292K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4285	−0.074%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	−0.176%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4370	+0.117%	$464K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4300	−0.041%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0104%	8h	4.4154	−0.370%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0110%	8h	4.4181	−0.308%	$1.5M	$1.5M	10x	as long as short
Extended NEAR-USD	+0.0136%	1h	4.4261	−0.128%	$3.7M	$18.2M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.4310	−0.018%	$206K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0171%	1h	4.4285	−0.074%	$5K	$52K	10x	as long as short
BingX NEAR-USDT	+0.0199%	8h	4.4230	−0.199%	—	$144.1M	—	as long as short
MEXC NEAR_USDT	+0.0210%	8h	4.4290	−0.063%	$80.2M	$149.3M	200x	as long as short
Binance NEARUSDT	+0.0210%	8h	4.4277	−0.093%	$270.0M	$1.08B	75x	as long as short
Kalshi KXNEARPERP	+0.0248%	8h	4.4202	−0.262%	$1.0M	$24.9M	2.2x	as long as short
Aster NEARUSDT	+0.0297%	8h	4.4252	−0.149%	$2.8M	$4.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0199%	1h	4.4243	−0.169%	$235K	—	100x	as long as short
BloFin NEAR-USDT	+0.0331%	8h	4.4150	−0.379%	$13.7M	$32.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4197	−0.273%	$2.3M	$16.7M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0427%	1h	4.4281	−0.083%	$1.3M	$6.9M	20x	as long as short
01 Exchange NEARUSD	+0.0448%	1h	4.4255	−0.142%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0497%	1h	4.4304	−0.032%	$361.6M	$313.1M	10x	as long as short
Nado NEAR-PERP	+0.0558%	1h	4.4210	−0.244%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4261	−0.128%	$7.3M	$38.2M	50x	as long as short
Lighter NEAR	+0.0800%	1h	4.4332	+0.032%	$17.4M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4260	−0.131%	$228K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.4329	+0.025%	$1.5M	$6.7M	10x	as long as short
Phoenix NEARlong	+0.1003%	1h	4.4318	long leg	$1.8M	$2.5M	10x
Deribit NEAR_USDC-PERPETUALshort	+0.1038%	1h	4.4315	−0.007%	$1.9M	$13.0M	25x
Pacifica NEAR	+0.1187%	1h	4.4182	−0.308%	$422K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4265	−0.119%	$671K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1299%	1h	4.4235	−0.187%	$5K	$12K	10x	as long as short