NEAR

Alert: funding

Alert: spread

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: Kraken Futures against Phoenix−0.271%71s7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as 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−$540.541% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.551%−$55 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.271%, 7d avg −0.150%

Together, before fees−0.478%−$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Kraken Futures is 0.120% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.150%). Swap the legs. 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	Phoenix NEAR	4.3782	0.0949	pay 0.0119% / 1h	10m 09s	$1.8M	$2.4M	10x
Short	Kraken Futures PF_NEARUSD	4.3663	0.0017	get 0.0002% / 1h	10m 09s	$7.1M	$38.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.271%Rate

Funding earned: −$195.86
Price spread: −0.271% → −0.150%: −$12.05
Slippage, 4 orders: −$37.05
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$261.96
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from Phoenix: live order book, 3 min ago; Kraken Futures: 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, 3 min ago	0.92 bp	12.3 bp −$12	51.4 bp −$514	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	9.97 bp	15.0 bp −$15	19.4 bp −$194	48.5 bp −$4,853	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	4.3639	−0.326%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3600	−0.415%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3660	−0.279%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSDshort	+0.0017%	1h	4.3663	−0.271%	$7.1M	$38.2M	50x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.418%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3610	−0.393%	$113K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3671	−0.254%	$220.5M	$428.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3650	−0.301%	$61.3M	$295.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.414%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3655	−0.290%	$35.8M	$62.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3680	−0.233%	$53.0M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3662	−0.274%	$72.2M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3490	−0.668%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3647	−0.309%	$253K	$902K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3469	−0.716%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3540	−0.553%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3646	−0.311%	$278K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3682	−0.228%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3680	−0.233%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3680	−0.233%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3680	−0.233%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3572	−0.479%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3664	−0.269%	$3.6M	$16.6M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3695	−0.199%	$203K	$38K	3x	as long as short
Aster NEARUSDT	+0.0124%	8h	4.3667	−0.262%	$2.7M	$4.8M	50x	as long as short
Hyperliquid NEAR	+0.0137%	1h	4.3703	−0.180%	$352.2M	$316.2M	10x	as long as short
HTX NEAR-USDT	+0.0154%	8h	4.3690	−0.210%	$465K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0156%	8h	4.3689	−0.212%	$264.6M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0159%	8h	4.3680	−0.233%	$87.9M	$153.6M	200x	as long as short
BingX NEAR-USDC	+0.0171%	8h	4.3660	−0.279%	—	$6.7M	—	as long as short
Kalshi KXNEARPERP	+0.0173%	8h	4.3586	−0.448%	$974K	$25.1M	2.2x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.3630	−0.347%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0279%	8h	4.3500	−0.644%	$13.3M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0340% / S −0.0239%	1h	4.3660	−0.278%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0377%	1h	4.3665	−0.267%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0460%	1h	4.3703	−0.180%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3692	−0.206%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0504%	1h	4.3724	−0.132%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.3731	−0.117%	$17.2M	$25.4M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3630	−0.347%	$228K	$1.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0826%	1h	4.3712	−0.160%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3598	−0.419%	$411K	$1.4M	10x	as long as short
Phoenix NEARlong	+0.0949%	1h	4.3782	long leg	$1.8M	$2.4M	10x
RISEx NEAR/USDC	+0.0965%	1h	4.3631	−0.344%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1114%	1h	4.3570	−0.484%	$5K	$7K	10x	as long as short