Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0223%/8h= −24.5% APRpaid last 24h −0.073%

Price spread now: Orderly against GMX+0.115%7-day average +0.016% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now +0.115%, 7d avg +0.016%

Together, before fees−0.316%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.100% dearer against GMX than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.016%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3289	L +0.0323% / S −0.0198%	pay 0.0040% / 1h	14m 10s	$234K	—	100x
Short	Orderly PERP_NEAR_USDC	4.3339	0.0100	get 0.0100% / 8h	3h 14m	$57K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now +0.115%Rate

Funding earned: −$46.91
Price spread: +0.115% → +0.016%: $9.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$54.94
Costs to cover: 0.180%
Break-even: never at this rate

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

GMX and Orderly: 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	4.3308	+0.044%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	+0.051%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3297	+0.019%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.341%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3493	+0.471%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3320	+0.071%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3390	+0.233%	$265.2M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3352	+0.145%	$214.5M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3360	+0.164%	$61.3M	$288.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.090%	$246K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3305	+0.037%	$32.1M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	+0.164%	$73.7M	$146.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3390	+0.233%	$53.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3351	+0.143%	$71.5M	$127.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3370	+0.187%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	+0.366%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.551%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.557%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.487%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3343	+0.124%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3339	+0.115%	$57K	$246K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3410	+0.279%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3400	+0.256%	$468K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3340	+0.118%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	+0.026%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	+0.141%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.279%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	+0.121%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3322	+0.076%	$870K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0323% / S −0.0198%	1h	4.3289	long leg	$234K	—	100x
Aster NEARUSDT	+0.0335%	8h	4.3370	+0.187%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0355%	1h	4.3315	+0.060%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3345	+0.129%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.3322	+0.075%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0575%	1h	4.3405	+0.267%	$355.4M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0590%	1h	4.3380	+0.210%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0592%	1h	4.3297	+0.019%	$3.8M	$19.9M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3360	+0.164%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3330	+0.095%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0812%	1h	4.3343	+0.124%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3387	+0.226%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.723%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1080%	1h	4.3430	+0.326%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3351	+0.142%	$681K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1581%	1h	4.3409	+0.277%	$5K	$13K	10x	as long as short