Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.053%

Price spread now: GMX against Orderly+0.044%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 Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.255%+$25 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.044%, 7d avg −0.016%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.059% dearer against Orderly than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3372	0.0100	pay 0.0100% / 8h	3h 14m	$57K	$246K	20x
Short	GMX NEAR/USD [ETH-USDC]	4.3391	L +0.0324% / S −0.0198%	get 0.0025% / 1h	14m 42s	$235K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.044%Rate

Funding earned: $20.51
Price spread: +0.044% → −0.016%: $5.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $8.44
Costs to cover: 0.180%
Break-even: 4.1 days

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

Orderly and 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	4.3410	+0.087%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	−0.140%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3382	+0.023%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.524%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3493	+0.279%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3450	+0.180%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3340	−0.074%	$264.9M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3298	−0.171%	$214.2M	$426.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3310	−0.143%	$61.3M	$288.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.281%	$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	4.3320	−0.120%	$32.1M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3350	−0.051%	$73.8M	$146.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	−0.051%	$53.7M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3313	−0.136%	$71.4M	$127.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3330	−0.097%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	+0.174%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.359%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.365%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.295%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3485	+0.261%	$274K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3372	long leg	$57K	$246K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3500	+0.295%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3460	+0.203%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3390	+0.042%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	−0.165%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3370	−0.005%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.088%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	−0.071%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3465	+0.214%	$874K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0324% / S −0.0198%	1h	4.3391	+0.044%	$235K	—	100x
Aster NEARUSDT	+0.0335%	8h	4.3350	−0.051%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0356%	1h	4.3344	−0.065%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3520	+0.341%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0558%	1h	4.3430	+0.133%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0577%	1h	4.3371	−0.002%	$355.1M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0597%	1h	4.3369	−0.007%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0600%	1h	4.3325	−0.108%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3510	+0.318%	$214K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3356	−0.036%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0742%	1h	4.3375	+0.007%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3384	+0.028%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.530%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1056%	1h	4.3390	+0.041%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3501	+0.297%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1569%	1h	4.3451	+0.182%	$5K	$13K	10x	as long as short