Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.050%

Price spread now: GMX against MEXC−0.060%7-day average +0.002% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.255%+$25 on $10k

Price spread, last 4 days (all we have)+0.275%+$27 · spread now −0.060%, 7d avg +0.002%

Together, before fees+0.529%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.062% cheaper against MEXC than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.002%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.255% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.2840	0.0100	pay 0.0100% / 8h	2h 27m	$77.6M	$144.3M	200x
Short	GMX NEAR/USD [ETH-USDC]	4.2814	L +0.0311% / S −0.0198%	get 0.0025% / 1h	27m 14s	$231K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $20.52
Price spread: −0.060% → +0.002%: −$6.2
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.32
Costs to cover: 0.120%
Break-even: 6.2 days

Slippage unknown: MEXC: 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 MEXC live order book, 2 min ago	1.16 bp	1.2 bp −$1	3.0 bp −$30	31.1 bp −$3,110	69.3 bp −$34.7K
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	4.2841	+0.003%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2865	+0.059%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2818	−0.050%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.338%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2880	+0.093%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2834	−0.013%	$261.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2772	−0.159%	$213.3M	$420.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2790	−0.117%	$60.1M	$284.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.368%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2830	−0.023%	$32.3M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDTlong	+0.0100%	8h	4.2840	long leg	$77.6M	$144.3M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2880	+0.093%	$51.8M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2780	−0.140%	$70.7M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2840	0.000%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	+0.090%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2992	+0.355%	$259K	$953K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2900	+0.140%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2891	+0.119%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2821	−0.044%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2880	+0.093%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3010	+0.397%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2820	−0.047%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2889	+0.115%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2839	−0.002%	$199K	$37K	3x	as long as short
ApeX Omni NEARUSDT	+0.0209%	1h	4.3020	+0.420%	$165K	$795K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2820	−0.047%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2871	+0.072%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0269%	8h	4.2888	+0.112%	$867K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0311% / S −0.0198%	1h	4.2814	−0.060%	$231K	—	100x
Aster NEARUSDT	+0.0333%	8h	4.2810	−0.070%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0393%	1h	4.2890	+0.117%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2770	−0.163%	$3.6M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0560%	1h	4.2785	−0.128%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0655%	1h	4.2871	+0.072%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0682%	1h	4.2909	+0.161%	$350.8M	$310.4M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0739%	1h	4.2778	−0.146%	$7.4M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0760%	1h	4.2951	+0.259%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2910	+0.163%	$215K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2893	+0.123%	$393K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.2860	+0.046%	$16.8M	$25.1M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1013%	1h	4.2821	−0.044%	$1.9M	$11.0M	25x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2991	+0.352%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1128%	1h	4.2856	+0.037%	$1.4M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2904	+0.150%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1365%	1h	4.2895	+0.129%	$5K	$12K	10x	as long as short