Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.065%

Price spread now: GMX against OKX−0.308%52s7-day average +0.034% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.244%+$24 on $10k

Price spread, last 3 days (all we have)+0.429%+$43 · spread now −0.308%, 7d avg +0.034%

Together, before fees+0.673%+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.342% cheaper against OKX than usual: you would sell low and buy high (spread −0.308% now, against its 7-day average of +0.034%). If the spread goes back, that is −$34 on $10k: about 6.4 days of funding at the current rate (+$5 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.3680	0.0100	pay 0.0100% / 8h	6h 35m	$61.6M	$283.1M	50x
Short	GMX NEAR/USD [ETH-USDC]	4.3545	L +0.0360% / S −0.0278%	get 0.0035% / 1h	35m 34s	$261K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.308%Rate

Funding earned: $37.33
Price spread: −0.308% → +0.034%: −$34.19
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$18.85
Costs to cover: 0.220%
Break-even: 10.5 days

Slippage unknown: OKX: 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 OKX live order book, 4 min ago	1.15 bp	8.8 bp −$9	19.5 bp −$195	42.6 bp −$4,256	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	4.3548	−0.301%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3611	−0.158%	$2.2M	$13.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3553	−0.290%	$109K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3580	−0.229%	$522K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3549	−0.300%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.197%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0052%	8h	4.3548	−0.302%	$8.3M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3590	−0.206%	$116K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3583	−0.222%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3585	−0.218%	$412K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3630	−0.114%	$260.7M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3650	−0.069%	$221.8M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3680	long leg	$61.6M	$283.1M	50x
Arcus NEAR-USD	+0.0100%	1h	4.3640	−0.092%	$207K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	−0.528%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3568	−0.256%	$31.3M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3600	−0.183%	$75.7M	$138.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3600	−0.183%	$56.0M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3585	−0.217%	$72.1M	$123.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3590	−0.206%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−1.016%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−0.780%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	−0.641%	$180K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3575	−0.240%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3610	−0.160%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3571	−0.250%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3700	+0.046%	$445K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3580	−0.229%	$3.9M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3549	−0.299%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3574	−0.243%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3571	−0.250%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0122%	8h	4.3649	−0.070%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3584	−0.219%	$7.7M	$40.3M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−1.053%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0360% / S −0.0278%	1h	4.3545	−0.308%	$261K	—	100x
01 Exchange NEARUSD	+0.0368%	1h	4.3669	−0.025%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0432%	1h	4.3695	+0.034%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3654	−0.059%	$546K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	−0.563%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0680%	1h	4.3630	−0.114%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0759%	1h	4.3629	−0.117%	$366.2M	$303.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0783%	1h	4.3607	−0.167%	$1.9M	$4.1M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0805%	1h	4.3635	−0.103%	$1.4M	$5.9M	20x	as long as short
Aftermath Perps NEARUSD	+0.1440%	1h	4.3317	−0.832%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1480%	1h	4.3664	−0.037%	$17.4M	$24.8M	15x	as long as short