Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0247%/8h= −27.0% APRpaid last 24h −0.077%

Price spread now: Orderly against GMX+0.074%7-day average +0.014% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.213%−$21 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.074%, 7d avg +0.014%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.060% dearer against GMX than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of +0.014%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3513	L +0.0347% / S −0.0242%	pay 0.0043% / 1h	3m 15s	$255K	—	100x
Short	Orderly PERP_NEAR_USDC	4.3545	0.0100	get 0.0100% / 8h	6h 03m	$60K	$190K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.074%Rate

Funding earned: −$51.85
Price spread: +0.074% → +0.014%: $5.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$63.88
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 44 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	4.3588	+0.172%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3550	+0.085%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3601	+0.203%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3619	+0.244%	$560K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3511	−0.003%	$196K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.833%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3610	+0.223%	$114K	$487K	50x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3557	+0.102%	$8.4M	$18.4M	—	as long as short
Pacifica NEAR	+0.0100%	1h	4.3621	+0.249%	$409K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3550	+0.085%	$264.1M	$1.08B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3511	−0.004%	$219.0M	$417.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3500	−0.030%	$62.0M	$287.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3640	+0.292%	$208K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	+0.097%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3532	+0.044%	$31.5M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3560	+0.108%	$75.3M	$144.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3550	+0.085%	$53.8M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3498	−0.034%	$71.4M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3520	+0.016%	—	$143.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3788	+0.632%	$270K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3556	+0.100%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3780	+0.614%	$199K	$774K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3644	+0.301%	$207K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3545	+0.074%	$60K	$190K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3640	+0.292%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3530	+0.039%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3700	+0.430%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3540	+0.062%	$3.8M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3592	+0.182%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3496	−0.040%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3553	+0.092%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0180%	8h	4.3606	+0.215%	$3.0M	$5.6M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3542	+0.068%	$7.7M	$40.7M	50x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0347% / S −0.0242%	1h	4.3513	long leg	$255K	—	100x
Deribit NEAR_USDC-PERPETUAL	+0.0347%	1h	4.3556	+0.099%	$1.9M	$4.3M	25x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3646	+0.306%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0424%	1h	4.3597	+0.194%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3642	+0.298%	$547K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3816	+0.696%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0792%	1h	4.3597	+0.193%	$1.6M	$7.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0819%	1h	4.3548	+0.081%	$1.5M	$6.3M	20x	as long as short
Hyperliquid NEAR	+0.0864%	1h	4.3635	+0.281%	$367.3M	$305.9M	10x	as long as short
Aftermath Perps NEARUSD	+0.1646%	1h	4.3712	+0.458%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1704%	1h	4.3641	+0.295%	$17.4M	$25.8M	15x	as long as short