Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h −0.077%

Price spread now: MEXC against GMX+0.250%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.210%−$21 on $10k

Price spread, last 3 days (all we have)−0.393%−$39 · spread now +0.250%, 7d avg −0.009%

Together, before fees−0.603%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.259% dearer against GMX than usual: you sell high and buy low (spread +0.250% now, against its 7-day average of −0.009%): +$26 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3392	L +0.0360% / S −0.0278%	pay 0.0045% / 1h	36m 38s	$260K	—	100x
Short	MEXC NEAR_USDT	4.3500	0.0100	get 0.0100% / 8h	6h 36m	$75.7M	$138.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.250%Rate

Funding earned: −$54.56
Price spread: +0.250% → −0.009%: $25.92
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$40.64
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	1.15 bp	1.4 bp −$1	6.1 bp −$61	78.2 bp −$7,815	104.5 bp −$52.2K

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	4.3381	−0.025%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3375	−0.038%	$2.2M	$13.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3444	+0.120%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3314	−0.179%	$526K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3399	+0.018%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.567%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.653%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3540	+0.342%	$116K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3393	+0.003%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3485	+0.215%	$411K	$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	4.3502	+0.255%	$259.9M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3474	+0.190%	$221.0M	$419.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3490	+0.227%	$61.4M	$281.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3560	+0.388%	$206K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	+0.133%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3483	+0.211%	$31.2M	$60.7M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.3500	+0.250%	$75.7M	$138.1M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.3500	+0.250%	$55.9M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3485	+0.215%	$72.1M	$123.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3500	+0.250%	—	$142.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−0.358%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−0.120%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.372%	$179K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3434	+0.098%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3480	+0.204%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3395	+0.008%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3490	+0.227%	$443K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3400	+0.019%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3465	+0.169%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3474	+0.190%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3384	−0.018%	$202K	$34K	3x	as long as short
Aster NEARUSDT	+0.0114%	8h	4.3471	+0.183%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0218%	1h	4.3416	+0.057%	$7.6M	$40.2M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.396%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0360% / S −0.0278%	1h	4.3392	long leg	$260K	—	100x
01 Exchange NEARUSD	+0.0368%	1h	4.3566	+0.402%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0442%	1h	4.3430	+0.088%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3579	+0.432%	$545K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0580%	1h	4.3420	+0.065%	$1.9M	$4.1M	25x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	+0.098%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0672%	1h	4.3526	+0.310%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0746%	1h	4.3508	+0.268%	$365.3M	$303.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0794%	1h	4.3446	+0.125%	$1.4M	$6.0M	20x	as long as short
Aftermath Perps NEARUSD	+0.1439%	1h	4.3261	−0.300%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1440%	1h	4.3561	+0.391%	$17.4M	$24.7M	15x	as long as short