NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0452%/8h= −49.4% APRnext payment −$0.56 per $10,000 · paid last 24h −0.012%

Price spread now: GMX against Deribit−0.292%7-day average −0.079% · you buy dearer than you sell

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

Long on Deribit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.189%+$19 · spread now −0.292%, 7d avg −0.079%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GMX is 0.213% cheaper against Deribit than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.079%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.028% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.4114	0.0658	pay 0.0082% / 1h	35m 38s	$1.9M	$6.8M	25x
Short	GMX NEAR/USD [ETH-USDC]	4.3985	L +0.0329% / S −0.0206%	get 0.0026% / 1h	35m 38s	$239K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Deribit. 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 DeribitbpFee GMXbpOrdersPrice spread, now −0.292%Rate

Funding earned: −$94.82
Price spread: −0.292% → −0.079%: −$21.32
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$135.13
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 3 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 Deribit live order book, 3 min ago	3.05 bp	6.6 bp −$7	16.6 bp −$166	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	4.3944	−0.386%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4100	−0.032%	$2.2M	$15.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4052	−0.141%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4100	−0.032%	$606K	$22.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3993	−0.274%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.130%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3990	−0.281%	$116K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4064	−0.114%	$421K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4088	−0.059%	$269.6M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4060	−0.122%	$221.6M	$424.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4090	−0.054%	$62.5M	$299.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	+0.988%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4036	−0.177%	$31.9M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4100	−0.032%	$74.9M	$148.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4100	−0.032%	$54.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4114	0.000%	$72.5M	$130.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4120	+0.014%	—	$146.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3977	−0.310%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4195	+0.183%	$265K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4605	+1.113%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4150	+0.082%	$170K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4038	−0.172%	$236K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4073	−0.093%	$56K	$217K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4200	+0.195%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4085	−0.066%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	+0.150%	$457K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4090	−0.054%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4027	−0.198%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4096	−0.040%	$205K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0150%	1h	4.4058	−0.127%	$363.3M	$324.9M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0202%	1h	4.4106	−0.018%	$1.3M	$6.6M	20x	as long as short
Extended NEAR-USD	+0.0208%	1h	4.4086	−0.063%	$4.0M	$19.6M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4000	−0.258%	$13.8M	$32.7M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.4060	−0.122%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0287%	8h	4.4019	−0.215%	$3.0M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0329% / S −0.0206%	1h	4.3985	−0.292%	$239K	—	100x
Lighter RH NEAR	+0.0456%	1h	4.4081	−0.075%	$1.5M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0565%	1h	4.3950	−0.372%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4180	+0.150%	$222K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4111	−0.008%	$8.1M	$39.9M	50x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0658%	1h	4.4114	long leg	$1.9M	$6.8M	25x
Phoenix NEAR	+0.0794%	1h	4.4338	+0.508%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.0888%	1h	4.4112	−0.005%	$17.8M	$26.3M	15x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4171	+0.129%	$562K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1568%	1h	4.4307	+0.437%	$6K	$12K	10x	as long as short