Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.075%

Price spread now: BingX against GMX+0.221%7-day average −0.009% · you sell dearer than you buy

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.222%−$22 on $10k

Price spread, last 4 days (all we have)−0.643%−$64 · spread now +0.221%, 7d avg −0.009%

Together, before fees−0.865%−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.229% dearer against GMX than usual: you sell high and buy low (spread +0.221% now, against its 7-day average of −0.009%): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.4043	L +0.0320% / S −0.0190%	pay 0.0040% / 1h	13m 54s	$233K	—	100x
Short	BingX NEAR-USDT	4.4140	0.0100	get 0.0100% / 8h	4h 13m	—	$147.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.221%Rate

Funding earned: −$46.26
Price spread: +0.221% → −0.009%: $22.94
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$45.32
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; BingX: live order book, 10 min ago. 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 BingX live order book, 10 min ago	1.13 bp	6.1 bp −$6	7.1 bp −$71	19.6 bp −$1,960	42.8 bp −$21.4K

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	4.4050	+0.015%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4097	+0.123%	$2.2M	$15.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4032	−0.025%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4082	+0.089%	$619K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4043	−0.001%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.978%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4040	−0.006%	$113K	$519K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4063	+0.046%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4172	+0.293%	$271.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4132	+0.202%	$222.2M	$425.2M	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	4.4140	+0.221%	$62.9M	$299.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4054	+0.026%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4102	+0.134%	$32.1M	$64.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4140	+0.221%	$74.8M	$150.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4150	+0.243%	$54.9M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4137	+0.214%	$72.5M	$130.6M	75x	as long as short
BingX NEAR-USDTshort	+0.0100%	8h	4.4140	+0.221%	—	$147.4M	—
Variational Omni NEAR	+0.0100%	8h	4.4137	+0.214%	$8.6M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4270	+0.516%	$266K	$980K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4260	+0.493%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4210	+0.380%	$170K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4071	+0.064%	$243K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4082	+0.089%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4160	+0.266%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4160	+0.266%	$457K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4100	+0.130%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4037	−0.013%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4095	+0.118%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0163%	1h	4.4055	+0.028%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4190	+0.334%	$13.8M	$32.9M	75x	as long as short
Aster NEARUSDT	+0.0307%	8h	4.4075	+0.074%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0320% / S −0.0190%	1h	4.4043	long leg	$233K	—	100x
Backpack NEAR_USDC_PERP	+0.0331%	1h	4.4089	+0.105%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4091	+0.109%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0374%	1h	4.4204	+0.366%	$364.6M	$324.9M	10x	as long as short
Extended NEAR-USD	+0.0416%	1h	4.4097	+0.123%	$4.0M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0552%	1h	4.4019	−0.054%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4100	+0.130%	$218K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0589%	1h	4.4072	+0.066%	$8.1M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0672%	1h	4.4132	+0.202%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0726%	1h	4.4087	+0.100%	$2.0M	$7.3M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4322	+0.634%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4093	+0.113%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0968%	1h	4.4233	+0.432%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1576%	1h	4.4142	+0.225%	$5K	$12K	10x	as long as short