NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0265%/8h= −29.0% APRnext payment −$0.33 per $10,000 · paid last 24h +0.076%

Price spread now: Lighter against Phoenix−0.390%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days+0.390%+$39 · spread now −0.390%, 7d avg −0.038%

Together, before fees+0.457%+ Points / potential airdropLighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Lighter is 0.352% cheaper against Phoenix than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.038%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.067%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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	4.2961	0.1033	pay 0.0129% / 1h	47m 13s	$1.8M	$2.5M	10x
Short	Lighter NEAR	4.2793	0.0768	get 0.0096% / 1h	47m 13s	$16.7M	$25.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.390%Rate

Funding earned: −$55.69
Price spread: −0.390% → −0.038%: −$35.22
Slippage, 4 orders: −$20.69
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$118.6
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; Lighter: live order book, 7 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, 6 min ago	0.93 bp	12.3 bp −$12	51.1 bp −$511	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.27 bp	2.3 bp −$2	10.1 bp −$101	59.2 bp −$5,919	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	4.2719	−0.564%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2717	−0.567%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2719	−0.564%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.610%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2750	−0.491%	$111K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2760	−0.468%	$260.8M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2712	−0.580%	$212.1M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2730	−0.538%	$60.2M	$284.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	−0.292%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2725	−0.549%	$32.0M	$59.6M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2750	−0.491%	$70.2M	$142.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2760	−0.468%	$52.9M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2704	−0.598%	$70.6M	$127.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2730	−0.538%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2828	−0.311%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2870	−0.211%	$250K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2882	−0.183%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2758	−0.473%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2775	−0.433%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2850	−0.258%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2810	−0.351%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2770	−0.445%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2735	−0.526%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2765	−0.456%	$199K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2760	−0.468%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2819	−0.331%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0271%	8h	4.2799	−0.377%	$843K	$24.4M	2.2x	as long as short
Nado NEAR-PERP	+0.0314%	1h	4.2741	−0.513%	$1.7M	$3.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2716	−0.570%	$229K	—	100x	as long as short
Aster NEARUSDT	+0.0337%	8h	4.2740	−0.514%	$2.8M	$5.4M	50x	as long as short
ApeX Omni NEARUSDT	+0.0347%	1h	4.2880	−0.189%	$165K	$794K	50x	as long as short
Extended NEAR-USD	+0.0512%	1h	4.2749	−0.492%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0572%	1h	4.2755	−0.480%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0657%	1h	4.2787	−0.405%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0666%	1h	4.2771	−0.442%	$349.5M	$311.4M	10x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.2818	−0.333%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0740%	1h	4.2755	−0.479%	$7.5M	$38.7M	50x	as long as short
Lighter NEARshort	+0.0768%	1h	4.2793	−0.390%	$16.7M	$25.0M	15x
Arcus NEAR-USD	+0.0814%	1h	4.2790	−0.398%	$210K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2755	−0.479%	$391K	$1.3M	10x	as long as short
Lighter RH NEAR	+0.1016%	1h	4.2822	−0.324%	$1.5M	$7.3M	10x	as long as short
Phoenix NEARlong	+0.1033%	1h	4.2961	long leg	$1.8M	$2.5M	10x
RISEx NEAR/USDC	+0.1220%	1h	4.2767	−0.452%	$685K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1471%	1h	4.2799	−0.378%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.5647%	1h	4.2983	+0.051%	$2.0M	$11.0M	25x	as long as short