Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0208%/8h= +22.7% APRpaid last 24h +0.068%

Price spread now: GMX against OKX−0.270%7-day average +0.032% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.240%+$24 on $10k

Price spread, last 3 days (all we have)+0.383%+$38 · spread now −0.270%, 7d avg +0.032%

Together, before fees+0.623%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.302% cheaper against OKX than usual: you would sell low and buy high (spread −0.270% now, against its 7-day average of +0.032%). If the spread goes back, that is −$30 on $10k: about 4.9 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.2550	0.0100	pay 0.0100% / 8h	7h 31m	$59.7M	$276.8M	50x
Short	GMX NEAR/USD [ETH-USDC]	4.2435	L +0.0372% / S −0.0308%	get 0.0038% / 1h	31m 58s	$271K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.270%Rate

Funding earned: $43.59
Price spread: −0.270% → +0.032%: −$30.21
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$8.63
Costs to cover: 0.220%
Break-even: 8.4 days

Slippage unknown: OKX: 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 OKX live order book, 2 min ago	1.18 bp	9.3 bp −$9	15.6 bp −$156	39.6 bp −$3,958	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	4.2417	−0.312%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0150%	8h	4.2542	−0.019%	$215.0M	$415.3M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0133%	1h	4.2452	−0.230%	$7.2M	$37.4M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2418	−0.310%	$2.2M	$12.8M	50x	as long as short
Gate NEAR_USDT	−0.0074%	8h	4.2447	−0.242%	$30.4M	$59.3M	75x	as long as short
01 Exchange NEARUSD	−0.0032%	1h	4.2455	−0.223%	$12K	$7K	10x	as long as short
Variational Omni NEAR	−0.0004%	8h	4.2298	−0.591%	$7.9M	$18.8M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2453	−0.228%	$110K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2443	−0.251%	$423K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2432	−0.278%	$202K	—	150x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.679%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2450	−0.235%	$110K	$480K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2466	−0.197%	$56K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2416	−0.315%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2467	−0.194%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2442	−0.254%	$397K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2533	−0.040%	$252.1M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.2550	long leg	$59.7M	$276.8M	50x
Arcus NEAR-USD	+0.0100%	1h	4.2450	−0.235%	$194K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2709	+0.375%	$243K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2550	0.000%	$77.3M	$140.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2580	+0.071%	$55.9M	$42.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2547	−0.007%	$70.5M	$124.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2430	−0.282%	—	$141.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2143	−0.957%	$261K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2147	−0.947%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2520	−0.071%	$178K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2439	−0.261%	$203K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2490	−0.141%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2449	−0.237%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2530	−0.047%	$456K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2450	−0.235%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2536	−0.032%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2440	−0.259%	$198K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0150%	1h	4.2471	−0.186%	$355.8M	$304.1M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2320	−0.541%	$13.0M	$28.0M	75x	as long as short
Lighter RH NEAR	+0.0344%	1h	4.2505	−0.106%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0372% / S −0.0308%	1h	4.2435	−0.270%	$271K	—	100x
Backpack NEAR_USDC_PERP	+0.0388%	1h	4.2487	−0.148%	$1.4M	$5.7M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2461	−0.210%	$402K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0493%	1h	4.2411	−0.325%	$1.8M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2201	−0.820%	$1.7M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0527%	1h	4.2483	−0.157%	$1.9M	$3.3M	25x	as long as short
Aftermath Perps NEARUSD	+0.1332%	1h	4.2489	−0.142%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1920%	1h	4.2565	+0.035%	$17.0M	$24.1M	15x	as long as short