Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.074%

Price spread now: MEXC against GMX+0.035%7-day average −0.004% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.223%−$22 on $10k

Price spread, last 4 days (all we have)−0.285%−$28 · spread now +0.035%, 7d avg −0.004%

Together, before fees−0.508%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.040% dearer against GMX than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.004%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3225	L +0.0323% / S −0.0198%	pay 0.0040% / 1h	22m 30s	$233K	—	100x
Short	MEXC NEAR_USDT	4.3240	0.0100	get 0.0100% / 8h	3h 22m	$72.4M	$145.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$46.84
Price spread: +0.035% → −0.004%: $3.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$54.87
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.15 bp	3.2 bp −$3	6.8 bp −$68	24.6 bp −$2,463	76.8 bp −$38.4K

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	4.3234	+0.021%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3189	−0.082%	$106K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3229	+0.009%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.198%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3288	+0.147%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3210	−0.034%	$109K	$505K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3254	+0.067%	$265.1M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3243	+0.042%	$214.1M	$428.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3260	+0.082%	$61.2M	$290.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	+0.059%	$246K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3236	+0.026%	$31.9M	$61.6M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.3240	+0.035%	$72.4M	$145.7M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.3240	+0.035%	$53.6M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3261	+0.084%	$71.4M	$128.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3250	+0.059%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.931%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.919%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.637%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.961%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3253	+0.066%	$279K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3276	+0.119%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3350	+0.290%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3350	+0.290%	$470K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3240	+0.035%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3249	+0.057%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3233	+0.019%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.082%	$13.4M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3221	−0.008%	$406K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0276%	8h	4.3318	+0.216%	$867K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0323% / S −0.0198%	1h	4.3225	long leg	$233K	—	100x
Aster NEARUSDT	+0.0331%	8h	4.3263	+0.089%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0372%	1h	4.3245	+0.047%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3250	+0.059%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0572%	1h	4.3210	−0.034%	$1.3M	$6.7M	20x	as long as short
Nado NEAR-PERP	+0.0591%	1h	4.3269	+0.103%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0602%	1h	4.3216	−0.020%	$353.9M	$313.7M	10x	as long as short
Extended NEAR-USD	+0.0624%	1h	4.3233	+0.020%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3300	+0.174%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0713%	1h	4.3228	+0.007%	$7.6M	$39.4M	50x	as long as short
Lighter RH NEAR	+0.0896%	1h	4.3283	+0.135%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3721	+1.148%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1104%	1h	4.3261	+0.085%	$17.4M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3283	+0.135%	$687K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1508%	1h	4.3305	+0.186%	$1.9M	$9.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1574%	1h	4.3462	+0.549%	$5K	$13K	10x	as long as short