Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0272%/8hpaid last 24h −0.080%

Price spread now: SunX against GMX−0.012%7-day average +0.156% · you buy dearer than you sell

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.192%−$19 on $10k

Price spread, last 3 days (all we have)+0.199%+$20 · spread now −0.012%, 7d avg +0.156%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SunX is 0.168% cheaper against GMX than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.156%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NEAR/USD [ETH-USDC]	4.1505	L +0.0372% / S −0.0314%	pay 0.0047% / 1h	22m 17s	$273K	—	100x
Short	SunX NEAR-USDT	4.1500	0.0100	get 0.0100% / 8h	4h 22m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$57.21
Price spread: −0.012% → +0.156%: −$16.81
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$94.02
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	31.51 bp	85.4 bp −$85	doesn't fit	doesn't fit	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	4.1436	−0.167%	$2K	—	20x	as long as short
Extended NEAR-USD	−0.0032%	1h	4.1453	−0.125%	$3.5M	$14.1M	25x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1595	+0.217%	$105K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1418	−0.210%	$432K	$20.1M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1489	−0.039%	$1.8M	$2.0M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1510	+0.012%	$202K	—	150x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0032%	1h	4.1445	−0.145%	$2.1M	$12.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1520	+0.036%	$105K	$499K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1555	+0.120%	$2.8M	$5.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1504	−0.003%	$237.4M	$1.11B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.1457	−0.116%	$208.0M	$429.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1460	−0.109%	$57.4M	$287.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1540	+0.084%	$245K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1537	+0.076%	$238K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1457	−0.116%	$29.2M	$56.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1460	−0.109%	$81.6M	$145.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1480	−0.060%	$57.8M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1453	−0.126%	$70.0M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1480	−0.060%	—	$135.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1325	−0.434%	$7.6M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1249	−0.618%	$262K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1280	−0.542%	$1.4M	$1.1M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1250	−0.615%	$112K	$754K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1551	+0.111%	$221K	$3.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1472	−0.080%	$52K	$163K	20x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.1500	−0.012%	$2K	$1.5M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1435	−0.169%	$5K	$45K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1460	−0.109%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1590	+0.205%	$30K	$2K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1446	−0.143%	$200K	$66K	3x	as long as short
Injective NEAR/USDC PERP	+0.0120%	1h	4.1000	−1.217%	$572	$150K	12x	as long as short
01 Exchange NEARUSD	+0.0200%	1h	4.1560	+0.132%	$12K	$8K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1420	−0.205%	$12.6M	$33.2M	75x	as long as short
Kraken Futures PF_NEARUSD	+0.0241%	1h	4.1463	−0.100%	$7.4M	$34.5M	50x	as long as short
Lighter RH NEAR	+0.0248%	1h	4.1635	+0.313%	$1.4M	$7.3M	10x	as long as short
Nado NEAR-PERP	+0.0286%	1h	4.1440	−0.157%	$1.8M	$3.9M	10x	as long as short
Pacifica NEAR	+0.0319%	1h	4.1578	+0.175%	$440K	$1.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]long	L +0.0372% / S −0.0314%	1h	4.1505	long leg	$273K	—	100x
RISEx NEAR/USDC	+0.0378%	1h	4.1559	+0.129%	$397K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0618%	1h	4.1391	−0.275%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0648%	1h	4.1555	+0.121%	$15.4M	$22.5M	15x	as long as short
Hyperliquid NEAR	+0.0839%	1h	4.1524	+0.046%	$350.6M	$305.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0956%	1h	4.1568	+0.152%	$1.5M	$4.7M	20x	as long as short
Aftermath Perps NEARUSD	+0.1095%	1h	4.1364	−0.341%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1246%	8h	4.1580	+0.180%	$452K	$4.1M	75x	as long as short