Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0142%/8h= +15.6% APRpaid last 24h +0.065%

Price spread now: GMX against Orderly−0.034%7-day average −0.014% · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.247%+$25 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.034%, 7d avg −0.014%

Together, before fees+0.278%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.020% cheaper against Orderly than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of −0.014%). If the spread goes back, that is −$2 on $10k: about 11 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3562	0.0100	pay 0.0100% / 8h	6h 04m	$60K	$190K	20x
Short	GMX NEAR/USD [ETH-USDC]	4.3547	L +0.0347% / S −0.0242%	get 0.0030% / 1h	4m 47s	$254K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $29.9
Price spread: −0.034% → −0.014%: −$2.04
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $9.87
Costs to cover: 0.180%
Break-even: 4.7 days

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

Orderly and 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 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	4.3543	−0.045%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3550	−0.028%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3550	−0.027%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3555	−0.016%	$557K	$19.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3545	−0.039%	$196K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.940%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3540	−0.051%	$113K	$487K	50x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3557	−0.011%	$8.4M	$18.4M	—	as long as short
Pacifica NEAR	+0.0100%	1h	4.3555	−0.016%	$408K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3568	+0.013%	$264.2M	$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	4.3530	−0.073%	$219.1M	$417.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3520	−0.096%	$61.9M	$288.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3580	+0.041%	$207K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	−0.016%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3537	−0.057%	$31.5M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3560	−0.005%	$75.1M	$144.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3570	+0.018%	$53.8M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3543	−0.044%	$71.5M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3540	−0.051%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3788	+0.519%	$270K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3782	+0.504%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3780	+0.500%	$199K	$774K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3574	+0.028%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3562	long leg	$60K	$190K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3610	+0.110%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3556	−0.014%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3630	+0.156%	$455K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3570	+0.018%	$3.8M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3512	−0.114%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3540	−0.051%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3575	+0.030%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0178%	8h	4.3569	+0.016%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3554	−0.018%	$7.7M	$40.7M	50x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0347% / S −0.0242%	1h	4.3547	−0.034%	$254K	—	100x
01 Exchange NEARUSD	+0.0408%	1h	4.3574	+0.028%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0416%	1h	4.3588	+0.060%	$1.9M	$4.2M	25x	as long as short
Nado NEAR-PERP	+0.0424%	1h	4.3541	−0.049%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3575	+0.029%	$546K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3816	+0.583%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0784%	1h	4.3625	+0.145%	$1.6M	$7.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0831%	1h	4.3579	+0.039%	$1.5M	$6.3M	20x	as long as short
Hyperliquid NEAR	+0.0869%	1h	4.3608	+0.106%	$367.2M	$305.8M	10x	as long as short
Aftermath Perps NEARUSD	+0.1643%	1h	4.3769	+0.474%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1712%	1h	4.3654	+0.210%	$17.4M	$25.8M	15x	as long as short