Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.075%

Price spread now: Bitget against GMX−0.068%7-day average −0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.219%−$22 on $10k

Price spread, last 4 days (all we have)−0.308%−$31 · spread now −0.068%, 7d avg −0.013%

Together, before fees−0.527%−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.056% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3788	L +0.0320% / S −0.0191%	pay 0.0040% / 1h	57m 52s	$233K	—	100x
Short	Bitget NEARUSDT	4.3758	0.0100	get 0.0100% / 8h	3h 57m	$71.9M	$129.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$46.15
Price spread: −0.068% → −0.013%: −$5.56
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$75.71
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 1 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	0.57 bp	12.0 bp −$12	16.3 bp −$163	33.1 bp −$3,314	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3788	+0.001%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3837	+0.113%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3928	+0.320%	$623K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3789	+0.003%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.430%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3800	+0.028%	$2.2M	$15.6M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3840	+0.119%	$113K	$504K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3800	+0.028%	$270.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3747	−0.093%	$220.7M	$422.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3760	−0.064%	$62.6M	$293.4M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk NEAR-USD	+0.0100%	1h	4.3879	+0.207%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3771	−0.038%	$31.9M	$60.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3810	+0.051%	$76.1M	$142.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3830	+0.096%	$54.6M	$46.0M	75x	as long as short
Bitget NEARUSDTshort	+0.0100%	8h	4.3758	−0.068%	$71.9M	$129.0M	75x
BingX NEAR-USDT	+0.0100%	8h	4.3760	−0.064%	—	$146.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3907	+0.273%	$8.5M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3951	+0.373%	$264K	$966K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3988	+0.458%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3990	+0.462%	$169K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3846	+0.133%	$244K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3817	+0.067%	$56K	$244K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3940	+0.348%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3880	+0.211%	$454K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3840	+0.119%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3835	+0.108%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3818	+0.069%	$204K	$40K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3910	+0.279%	$13.8M	$32.5M	75x	as long as short
SoDEX NEAR-USD	+0.0249%	1h	4.3780	−0.018%	$8K	$52K	10x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3879	+0.209%	$417K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0313%	8h	4.3800	+0.028%	$2.9M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0320% / S −0.0191%	1h	4.3788	long leg	$233K	—	100x
Hyperliquid NEAR	+0.0542%	1h	4.3847	+0.135%	$361.2M	$320.3M	10x	as long as short
01 Exchange NEARUSD	+0.0576%	1h	4.3899	+0.254%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0588%	1h	4.3817	+0.067%	$1.3M	$6.3M	20x	as long as short
Extended NEAR-USD	+0.0592%	1h	4.3779	−0.019%	$3.9M	$19.6M	25x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0595%	1h	4.3804	+0.037%	$2.0M	$7.4M	25x	as long as short
Nado NEAR-PERP	+0.0617%	1h	4.3821	+0.076%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3890	+0.233%	$216K	$1.7M	10x	as long as short
Lighter RH NEAR	+0.0672%	1h	4.3856	+0.156%	$1.6M	$7.0M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0704%	1h	4.3794	+0.014%	$7.8M	$39.8M	50x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4008	+0.503%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3890	+0.234%	$603K	$1.4M	10x	as long as short
Lighter NEAR	+0.1368%	1h	4.3872	+0.192%	$17.7M	$24.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1620%	1h	4.3890	+0.233%	$5K	$12K	10x	as long as short