Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0155%/8h= −16.9% APRpaid last 24h −0.042%

Price spread now: BloFin against GMX−0.172%51s7-day average +0.015% · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.103%−$10 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.172%, 7d avg +0.015%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.187% cheaper against GMX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.015%). Swap the legs. The two prices were read 51 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	GMX NEAR/USD [ETH-USDC]	4.2513	L +0.0375% / S −0.0314%	pay 0.0047% / 1h	23m 52s	$273K	—	100x
Short	BloFin NEAR-USDT	4.2440	0.0220	get 0.0220% / 8h	23m 52s	$13.0M	$29.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$32.48
Price spread: −0.172% → +0.015%: −$18.71
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$75.19
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 5 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 BloFin live order book, 5 min ago	5.86 bp	11.9 bp −$12	17.1 bp −$171	42.5 bp −$4,254	129.3 bp −$64.6K

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	4.2496	−0.041%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2459	−0.127%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2549	+0.084%	$110K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2505	−0.019%	$331K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2506	−0.016%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.594%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0062%	8h	4.2470	−0.101%	$7.9M	$18.4M	—	as long as short
Bybit NEARUSDT	+0.0064%	8h	4.2564	+0.120%	$217.3M	$422.0M	75x	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.2571	+0.136%	$12K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2540	+0.064%	$108K	$496K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2554	+0.096%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2570	+0.134%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2532	+0.045%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2587	+0.174%	$252.2M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2550	+0.087%	$60.6M	$284.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2550	+0.087%	$195K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2551	+0.089%	$242K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2572	+0.139%	$30.6M	$59.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2590	+0.181%	$77.6M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2580	+0.158%	$55.3M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2570	+0.134%	$70.7M	$126.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2570	+0.134%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2605	+0.217%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2778	+0.624%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2630	+0.275%	$178K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2547	+0.080%	$195K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2499	−0.033%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2590	+0.181%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2470	−0.101%	$12K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2500	−0.031%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2520	+0.015%	$3.9M	$16.1M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2474	−0.091%	$200K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2492	−0.050%	$7.3M	$37.3M	50x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.2440	−0.172%	$13.0M	$29.2M	75x
Deribit NEAR_USDC-PERPETUAL	+0.0268%	1h	4.2516	+0.007%	$1.8M	$2.5M	25x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2638	+0.294%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0375% / S −0.0314%	1h	4.2513	long leg	$273K	—	100x
RISEx NEAR/USDC	+0.0404%	1h	4.2541	+0.066%	$414K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0442%	1h	4.2568	+0.129%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2668	+0.365%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0717%	1h	4.2505	−0.019%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0739%	1h	4.2642	+0.304%	$366.3M	$298.4M	10x	as long as short
HTX NEAR-USDT	+0.0810%	8h	4.2590	+0.181%	$458K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1164%	1h	4.2603	+0.211%	$6K	$11K	10x	as long as short
Lighter NEAR	+0.1720%	1h	4.2719	+0.485%	$16.4M	$23.8M	15x	as long as short