Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.080%

Price spread now: GMX against Phemex−0.035%7-day average −0.020% · you buy dearer than you sell

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

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.242%+$24 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now −0.035%, 7d avg −0.020%

Together, before fees+0.215%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2150	0.0100	pay 0.0100% / 8h	1h 13m	$3.9M	$8.1M	50x
Short	GMX NEAR/USD [ETH-USDC]	4.2135	L +0.0385% / S −0.0332%	get 0.0042% / 1h	13m 19s	$286K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phemex. 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 PhemexbpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $48.79
Price spread: −0.035% → −0.020%: −$1.5
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $23.3
Costs to cover: 0.240%
Break-even: 3.7 days

Slippage unknown: Phemex: live order book, 6 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 Phemex live order book, 6 min ago	7.11 bp	26.4 bp −$26	48.4 bp −$484	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	4.2119	−0.073%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2086	−0.152%	$2.2M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.756%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2094	−0.134%	$109K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2119	−0.074%	$446K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2141	−0.021%	$209K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.2168	+0.042%	$7.7M	$36.2M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2110	−0.095%	$108K	$485K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2070	−0.190%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2171	+0.051%	$3.0M	$5.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2094	−0.134%	$364K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2132	−0.042%	$242.3M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2112	−0.090%	$215.2M	$418.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2120	−0.071%	$58.6M	$276.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2100	−0.119%	$212K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2128	−0.052%	$30.1M	$58.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2130	−0.047%	$83.0M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2150	0.000%	$55.4M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2121	−0.069%	$69.8M	$124.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2130	−0.047%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2040	−0.262%	$7.8M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2112	−0.089%	$246K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2084	−0.156%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2120	−0.071%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2157	+0.017%	$205K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2141	−0.021%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2190	+0.095%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2131	−0.045%	$5K	$46K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2150	long leg	$3.9M	$8.1M	50x
Bulk NEAR-USD	+0.0100%	1h	4.2042	−0.257%	$240K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2117	−0.078%	$3.9M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2125	−0.059%	$203K	$62K	3x	as long as short
Lighter RH NEAR	+0.0120%	1h	4.2151	+0.002%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0128%	1h	4.2148	−0.005%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2150	0.000%	$12.4M	$31.9M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0225%	1h	4.2166	+0.038%	$1.9M	$2.2M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2131	−0.045%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0385% / S −0.0332%	1h	4.2135	−0.035%	$286K	—	100x
Hyperliquid NEAR	+0.0491%	1h	4.2223	+0.173%	$358.3M	$294.4M	10x	as long as short
Nado NEAR-PERP	+0.0501%	1h	4.2098	−0.123%	$1.9M	$3.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0517%	1h	4.2159	+0.021%	$1.2M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2164	+0.033%	$1.7M	$2.7M	10x	as long as short
HTX NEAR-USDT	+0.0936%	8h	4.2260	+0.261%	$453K	$3.5M	75x	as long as short
Lighter NEAR	+0.0952%	1h	4.2259	+0.258%	$16.3M	$23.6M	15x	as long as short
Aftermath Perps NEARUSD	+0.0985%	1h	4.2112	−0.090%	$5K	$11K	10x	as long as short