Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.100%

Price spread now: GMX against GRVT+0.117%7-day average +0.041% · you sell dearer than you buy

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

Long on GRVT Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.262%+$26 on $10k

Price spread, last 3 days (all we have)−0.146%−$15 · spread now +0.117%, 7d avg +0.041%

Together, before fees+0.116%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GMX is 0.076% dearer against GRVT than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NEAR_USDT_Perp	4.1653	0.0100	pay 0.0100% / 8h	1h 27m	$1.4M	$1.3M	10x
Short	GMX NEAR/USD [ETH-USDC]	4.1702	L +0.0381% / S −0.0328%	get 0.0041% / 1h	27m 10s	$281K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against GRVT. 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 GRVTbpFee GMXbpOrdersPrice spread, now +0.117%Rate

Funding earned: $47.87
Price spread: +0.117% → +0.041%: $7.6
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $34.47
Costs to cover: 0.210%
Break-even: 2.0 days

Slippage unknown: GRVT: live order book, 1 min ago; GMX: 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 GRVT live order book, 1 min ago	3.60 bp	10.3 bp −$10	23.2 bp −$232	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	4.1683	+0.071%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1674	+0.050%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.584%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1682	+0.070%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1719	+0.158%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1701	+0.114%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1778	+0.300%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1808	+0.371%	$1.5M	$7.0M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1710	+0.136%	$111K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1746	+0.222%	$53K	$158K	20x	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	4.1694	+0.098%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1749	+0.229%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1708	+0.131%	$360K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1750	+0.232%	$239.2M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1730	+0.184%	$212.9M	$422.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1730	+0.184%	$57.6M	$276.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1730	+0.184%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1749	+0.230%	$29.9M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1760	+0.256%	$82.4M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1760	+0.256%	$55.0M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1707	+0.129%	$69.0M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1710	+0.136%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.009%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1652	−0.003%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perplong	+0.0100%	8h	4.1653	long leg	$1.4M	$1.3M	10x
ApeX Omni NEARUSDT	+0.0100%	1h	4.1670	+0.040%	$174K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1726	+0.174%	$205K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1740	+0.208%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1750	+0.232%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1740	+0.208%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.128%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1725	+0.173%	$3.8M	$14.7M	25x	as long as short
01 Exchange NEARUSD	+0.0104%	1h	4.1766	+0.270%	$12K	$7K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1755	+0.244%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1790	+0.328%	$12.3M	$31.7M	75x	as long as short
Hyperliquid NEAR	+0.0353%	1h	4.1783	+0.311%	$352.7M	$299.0M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1761	+0.257%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0381% / S −0.0328%	1h	4.1702	+0.117%	$281K	—	100x
Deribit NEAR_USDC-PERPETUAL	+0.0421%	1h	4.1776	+0.294%	$1.8M	$2.2M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0437%	1h	4.1778	+0.299%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0542%	1h	4.1705	+0.124%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1861	+0.499%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0584%	1h	4.1853	+0.480%	$16.0M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0890%	1h	4.1778	+0.300%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0966%	8h	4.1810	+0.376%	$447K	$3.6M	75x	as long as short