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= −28.5% APRpaid last 24h −0.077%

Price spread now: Orderly against GMX+0.017%7-day average +0.014% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.213%−$21 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.017%, 7d avg +0.014%

Together, before fees−0.226%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.3250	L +0.0360% / S −0.0278%	pay 0.0045% / 1h	38m 10s	$260K	—	100x
Short	Orderly PERP_NEAR_USDC	4.3257	0.0099	get 0.0099% / 8h	6h 38m	$57K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.017%Rate

Funding earned: −$54.64
Price spread: +0.017% → +0.014%: $0.27
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$72.37
Costs to cover: 0.180%
Break-even: never at this rate

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

GMX and Orderly: 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	4.3298	+0.112%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3313	+0.146%	$2.1M	$13.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3310	+0.140%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3251	+0.003%	$517K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3241	−0.020%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.254%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.327%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3290	+0.093%	$115K	$478K	50x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0099%	8h	4.3257	+0.017%	$57K	$161K	20x
Pacifica NEAR	+0.0100%	1h	4.3342	+0.213%	$410K	$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	4.3298	+0.113%	$258.7M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3280	+0.070%	$220.1M	$419.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3300	+0.116%	$61.1M	$280.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3340	+0.209%	$205K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3300	+0.116%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3257	+0.017%	$31.0M	$60.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3330	+0.185%	$75.8M	$137.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3310	+0.139%	$55.6M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3208	−0.097%	$71.6M	$123.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3240	−0.023%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3211	−0.090%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3122	−0.295%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3250	0.000%	$179K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3326	+0.176%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3320	+0.162%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3232	−0.041%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3440	+0.440%	$442K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3270	+0.047%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3286	+0.084%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3203	−0.109%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3234	−0.037%	$201K	$34K	3x	as long as short
Aster NEARUSDT	+0.0112%	8h	4.3337	+0.201%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3242	−0.019%	$7.9M	$39.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.069%	$13.2M	$27.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0305%	1h	4.3257	+0.017%	$1.9M	$4.1M	25x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0360% / S −0.0278%	1h	4.3250	long leg	$260K	—	100x
01 Exchange NEARUSD	+0.0368%	1h	4.3339	+0.206%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0443%	1h	4.3290	+0.093%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3322	+0.166%	$542K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3150	−0.231%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0640%	1h	4.3340	+0.209%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0744%	1h	4.3365	+0.266%	$364.2M	$303.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0782%	1h	4.3388	+0.319%	$1.4M	$6.0M	20x	as long as short
Lighter NEAR	+0.1432%	1h	4.3327	+0.178%	$17.3M	$24.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1438%	1h	4.3211	−0.089%	$5K	$12K	10x	as long as short