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= +15.5% APRpaid last 24h +0.074%

Price spread now: GMX against Bybit+0.227%7-day average +0.031% · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.253%+$25 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.227%, 7d avg +0.031%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.196% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.3734	0.0100	pay 0.0100% / 8h	6h 14m	$221.5M	$421.0M	75x
Short	GMX NEAR/USD [ETH-USDC]	4.3833	L +0.0347% / S −0.0242%	get 0.0030% / 1h	14m 50s	$255K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.227%Rate

Funding earned: $29.75
Price spread: +0.227% → +0.031%: $19.64
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $26.39
Costs to cover: 0.230%
Break-even: 0.8 days

Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago	1.13 bp	8.4 bp −$8	18.4 bp −$184	44.7 bp −$4,469	177.1 bp −$88.5K
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 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	4.3857	+0.282%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3882	+0.338%	$2.2M	$14.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3762	+0.063%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3803	+0.158%	$591K	$20.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3840	+0.242%	$194K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.314%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0088%	8h	4.3887	+0.350%	$8.5M	$18.5M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3820	+0.197%	$112K	$495K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3815	+0.185%	$412K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3723	−0.026%	$265.4M	$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 NEARUSDTlong	+0.0100%	8h	4.3734	long leg	$221.5M	$421.0M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3710	−0.055%	$62.2M	$290.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3890	+0.357%	$209K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3850	+0.265%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3713	−0.048%	$31.5M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3740	+0.014%	$75.0M	$143.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3730	−0.009%	$53.7M	$43.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3723	−0.025%	$71.9M	$126.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3710	−0.055%	—	$143.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4564	+1.897%	$281K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4520	+1.797%	$1.5M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4540	+1.843%	$183K	$765K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3888	+0.352%	$210K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3836	+0.233%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3900	+0.380%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3835	+0.231%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3850	+0.265%	$453K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3750	+0.037%	$3.9M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3783	+0.111%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3739	+0.012%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3855	+0.277%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0176%	8h	4.3696	−0.087%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0216%	1h	4.3835	+0.230%	$8.0M	$40.8M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0343%	1h	4.3862	+0.293%	$1.9M	$4.2M	25x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0347% / S −0.0242%	1h	4.3833	+0.227%	$255K	—	100x
Nado NEAR-PERP	+0.0407%	1h	4.3860	+0.288%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0416%	1h	4.3859	+0.286%	$13K	$7K	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3860	+0.288%	$554K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4150	+0.951%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0784%	1h	4.3778	+0.101%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEAR	+0.0898%	1h	4.3799	+0.149%	$368.9M	$309.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0912%	1h	4.3715	−0.043%	$1.5M	$6.3M	20x	as long as short
Aftermath Perps NEARUSD	+0.1638%	1h	4.4124	+0.891%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1760%	1h	4.3886	+0.346%	$17.6M	$25.7M	15x	as long as short