Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.050%

Price spread now: GMX against KuCoin−0.003%7-day average −0.030% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.260%+$26 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.003%, 7d avg −0.030%

Together, before fees+0.438%+$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.028% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.3060	0.0100	pay 0.0100% / 8h	36m 34s	$52.2M	$45.9M	75x
Short	GMX NEAR/USD [ETH-USDC]	4.3059	L +0.0315% / S −0.0203%	get 0.0025% / 1h	36m 34s	$232K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.003%Rate

Funding earned: $21.71
Price spread: −0.003% → −0.030%: $2.75
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $0.47
Costs to cover: 0.240%
Break-even: 6.8 days

Slippage unknown: KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	2.31 bp	17.8 bp −$18	26.8 bp −$268	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	4.3038	−0.052%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3057	−0.007%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3049	−0.026%	$161K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3039	−0.048%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.832%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3060	0.000%	$110K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3059	−0.002%	$217.4M	$430.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3040	−0.046%	$60.5M	$290.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3160	+0.232%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3036	−0.056%	$35.1M	$62.4M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3060	long leg	$52.2M	$45.9M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3034	−0.060%	$71.3M	$128.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3337	+0.642%	$8.6M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3177	+0.271%	$250K	$898K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3207	+0.342%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3330	+0.627%	$165K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3080	+0.046%	$282K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3072	+0.028%	$57K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3190	+0.302%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3060	0.000%	$5K	$53K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3080	+0.046%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3047	−0.030%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3023	−0.086%	$3.6M	$17.2M	25x	as long as short
HTX NEAR-USDT	+0.0120%	8h	4.3200	+0.325%	$461K	$3.8M	75x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3072	+0.027%	$200K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0188%	8h	4.3122	+0.144%	$935K	$25.2M	2.2x	as long as short
Binance NEARUSDT	+0.0193%	8h	4.3048	−0.027%	$261.4M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0196%	8h	4.3050	−0.023%	$82.7M	$150.6M	200x	as long as short
Aster NEARUSDT	+0.0198%	8h	4.3050	−0.023%	$2.7M	$4.8M	50x	as long as short
BingX NEAR-USDC	+0.0205%	8h	4.3050	−0.023%	—	$6.7M	—	as long as short
Hyperliquid NEAR	+0.0226%	1h	4.3083	+0.053%	$347.7M	$315.2M	10x	as long as short
01 Exchange NEARUSD	+0.0264%	1h	4.3057	−0.007%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0315% / S −0.0203%	1h	4.3059	−0.003%	$232K	—	100x
BloFin NEAR-USDT	+0.0316%	8h	4.3110	+0.116%	$13.2M	$31.8M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0390%	1h	4.3093	+0.077%	$1.2M	$7.0M	20x	as long as short
Nado NEAR-PERP	+0.0478%	1h	4.3060	+0.001%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3199	+0.323%	$2.3M	$16.8M	50x	as long as short
Lighter RH NEAR	+0.0496%	1h	4.3109	+0.114%	$1.5M	$6.6M	10x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3070	+0.023%	$225K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0679%	1h	4.3092	+0.074%	$1.9M	$13.2M	25x	as long as short
Lighter NEAR	+0.0728%	1h	4.3109	+0.113%	$17.0M	$25.1M	15x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3060	+0.001%	$406K	$1.5M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3384	+0.752%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3061	+0.003%	$598K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1254%	1h	4.3239	+0.415%	$5K	$7K	10x	as long as short