Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0215%/8h= +23.5% APRpaid last 24h +0.074%

Price spread now: GMX against SunX−0.291%7-day average −0.153% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.246%+$25 on $10k

Price spread, last 3 days (all we have)+0.085%+$8 · spread now −0.291%, 7d avg −0.153%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.138% cheaper against SunX than usual: you would sell low and buy high (spread −0.291% now, against its 7-day average of −0.153%). If the spread goes back, that is −$14 on $10k: about 2.1 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	SunX NEAR-USDT	4.3020	0.0100	pay 0.0100% / 8h	7h 55m	$2K	$1.4M	20x
Short	GMX NEAR/USD [ETH-USDC]	4.2895	L +0.0377% / S −0.0315%	get 0.0039% / 1h	55m 54s	$276K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.291%Rate

Funding earned: $45.14
Price spread: −0.291% → −0.153%: −$13.79
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.35
Costs to cover: 0.200%
Break-even: 5.2 days

Slippage unknown: SunX: live order book, 9 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 SunX live order book, 9 min ago	31.44 bp	55.4 bp −$55	doesn't fit	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
Phemex NEARUSDT	−0.1868%	8h	4.2960	−0.139%	$3.8M	$8.5M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.2903	−0.272%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0157%	8h	4.2771	−0.579%	$217.7M	$420.4M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.2978	−0.098%	$7.6M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2934	−0.200%	$2.3M	$13.1M	50x	as long as short
01 Exchange NEARUSD	−0.0016%	1h	4.2957	−0.146%	$13K	$7K	10x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2909	−0.259%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2916	−0.242%	$387K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2915	−0.245%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0019%	8h	4.2869	−0.351%	$7.9M	$18.5M	—	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	−3.742%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2940	−0.186%	$111K	$492K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.2959	−0.142%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2923	−0.226%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2967	−0.124%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2917	−0.240%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2830	−0.443%	$254.0M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2780	−0.558%	$60.9M	$283.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2930	−0.209%	$197K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2646	−0.869%	$243K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2843	−0.411%	$30.9M	$58.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2860	−0.372%	$79.7M	$138.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2940	−0.186%	$56.0M	$43.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2906	−0.265%	$71.1M	$125.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2810	−0.488%	—	$140.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2639	−0.885%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2676	−0.800%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	−0.721%	$178K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2951	−0.160%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.3020	long leg	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.2945	−0.174%	$4K	$53K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2897	−0.287%	$3.9M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3094	+0.172%	$201K	$28K	3x	as long as short
HTX NEAR-USDT	+0.0197%	8h	4.3040	+0.046%	$459K	$3.6M	75x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2850	−0.395%	$13.1M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0352%	1h	4.3005	−0.035%	$1.6M	$6.8M	10x	as long as short
Hyperliquid NEAR	+0.0376%	1h	4.2994	−0.060%	$366.4M	$301.5M	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0377% / S −0.0315%	1h	4.2895	−0.291%	$276K	—	100x
Nado NEAR-PERP	+0.0387%	1h	4.2935	−0.198%	$1.9M	$3.4M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2969	−0.117%	$420K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2848	−0.400%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0499%	1h	4.2994	−0.060%	$1.4M	$5.6M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0518%	1h	4.2997	−0.053%	$1.9M	$2.9M	25x	as long as short
Aftermath Perps NEARUSD	+0.1179%	1h	4.2824	−0.455%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.3071	+0.119%	$17.0M	$23.4M	15x	as long as short