Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0272%/8h= −29.8% APRpaid last 24h −0.078%

Price spread now: Bitget against GMX+0.016%7-day average −0.012% · you sell dearer than you buy

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.206%−$21 on $10k

Price spread, last 3 days (all we have)−0.174%−$17 · spread now +0.016%, 7d avg −0.012%

Together, before fees−0.380%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.027% dearer against GMX than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.012%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.2763	L +0.0372% / S −0.0306%	pay 0.0047% / 1h	26m 42s	$272K	—	100x
Short	Bitget NEARUSDT	4.2770	0.0100	get 0.0100% / 8h	7h 26m	$70.9M	$124.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$57.18
Price spread: +0.016% → −0.012%: $2.73
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.45
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.47 bp	11.4 bp −$11	16.2 bp −$162	29.8 bp −$2,975	doesn't fit

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	4.2749	−0.032%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2773	+0.024%	$7.2M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2797	+0.079%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0024%	1h	4.2827	+0.149%	$13K	$7K	10x	as long as short
Variational Omni NEAR	−0.0005%	8h	4.2608	−0.362%	$8.0M	$18.7M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2763	0.000%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2829	+0.154%	$401K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2772	+0.020%	$203K	—	150x	as long as short
Bybit NEARUSDT	+0.0022%	8h	4.2770	+0.016%	$216.2M	$415.8M	75x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.165%	$578	$302K	12x	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	+0.0061%	8h	4.2784	+0.049%	$30.7M	$59.5M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2830	+0.156%	$114K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2775	+0.027%	$57K	$191K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2767	+0.008%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2838	+0.175%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2768	+0.011%	$395K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2776	+0.029%	$253.2M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2760	−0.008%	$60.0M	$277.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2840	+0.179%	$196K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2789	+0.061%	$244K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2760	−0.008%	$76.6M	$140.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2800	+0.086%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDTshort	+0.0100%	8h	4.2770	+0.016%	$70.9M	$124.2M	75x
BingX NEAR-USDT	+0.0100%	8h	4.2770	+0.016%	—	$141.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2763	−0.001%	$255K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2603	−0.375%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2810	+0.109%	$179K	$782K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2824	+0.142%	$206K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2830	+0.156%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2780	+0.039%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2890	+0.296%	$457K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2750	−0.031%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2756	−0.017%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2764	+0.001%	$199K	$28K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0124%	1h	4.2786	+0.053%	$1.9M	$3.4M	25x	as long as short
Hyperliquid NEAR	+0.0148%	1h	4.2819	+0.130%	$359.1M	$305.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2770	+0.016%	$12.9M	$28.1M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2836	+0.170%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0372% / S −0.0306%	1h	4.2763	long leg	$272K	—	100x
Backpack NEAR_USDC_PERP	+0.0416%	1h	4.2801	+0.088%	$1.3M	$5.9M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2848	+0.197%	$406K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0472%	1h	4.2763	−0.001%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2669	−0.220%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1305%	1h	4.2691	−0.170%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1888%	1h	4.2861	+0.230%	$17.1M	$24.3M	15x	as long as short