Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.050%

Price spread now: GMX against OKX−0.162%7-day average +0.029% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.255%+$25 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.162%, 7d avg +0.029%

Together, before fees+0.571%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.192% cheaper against OKX than usual: you would sell low and buy high (spread −0.162% now, against its 7-day average of +0.029%). If the spread goes back, that is −$19 on $10k: about 6.5 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.255% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.2770	0.0100	pay 0.0100% / 8h	2h 45m	$60.2M	$284.2M	50x
Short	GMX NEAR/USD [ETH-USDC]	4.2701	L +0.0322% / S −0.0198%	get 0.0025% / 1h	45m 05s	$231K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.162%Rate

Funding earned: $20.52
Price spread: −0.162% → +0.029%: −$19.17
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$20.65
Costs to cover: 0.220%
Break-even: 14.0 days

Slippage unknown: OKX: live order book, 4 min ago; GMX: 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 OKX live order book, 4 min ago	1.17 bp	7.1 bp −$7	14.5 bp −$145	39.3 bp −$3,929	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	4.2723	−0.110%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2708	−0.145%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2703	−0.157%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.180%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	−0.070%	$111K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2782	+0.029%	$261.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2732	−0.089%	$212.4M	$422.0M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.2770	long leg	$60.2M	$284.2M	50x
Bulk NEAR-USD	+0.0100%	1h	4.2835	+0.153%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2705	−0.152%	$31.9M	$59.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2780	+0.023%	$70.4M	$142.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	0.000%	$52.8M	$45.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2738	−0.075%	$70.6M	$127.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2720	−0.117%	—	$144.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2678	−0.216%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2781	+0.025%	$250K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2766	−0.009%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2744	−0.061%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2755	−0.035%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2830	+0.140%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2840	+0.164%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2770	0.000%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2721	−0.115%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2749	−0.050%	$199K	$37K	3x	as long as short
ApeX Omni NEARUSDT	+0.0148%	1h	4.2790	+0.047%	$164K	$794K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2780	+0.023%	$13.2M	$31.5M	75x	as long as short
Kalshi KXNEARPERP	+0.0253%	8h	4.2761	−0.021%	$842K	$24.5M	2.2x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2732	−0.089%	$2.3M	$15.7M	50x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0322% / S −0.0198%	1h	4.2701	−0.162%	$231K	—	100x
Aster NEARUSDT	+0.0335%	8h	4.2764	−0.013%	$2.8M	$5.4M	50x	as long as short
Nado NEAR-PERP	+0.0339%	1h	4.2720	−0.117%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0528%	1h	4.2729	−0.097%	$3.7M	$19.9M	25x	as long as short
SoDEX NEAR-USD	+0.0563%	1h	4.2745	−0.058%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0635%	1h	4.2754	−0.037%	$1.3M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0672%	1h	4.2768	−0.005%	$349.4M	$311.6M	10x	as long as short
01 Exchange NEARUSD	+0.0728%	1h	4.2804	+0.079%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0740%	1h	4.2740	−0.071%	$7.5M	$38.7M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2790	+0.047%	$210K	$1.6M	10x	as long as short
Lighter NEAR	+0.0832%	1h	4.2792	+0.052%	$16.7M	$25.0M	15x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2755	−0.036%	$391K	$1.3M	10x	as long as short
Lighter RH NEAR	+0.1024%	1h	4.2800	+0.070%	$1.5M	$7.3M	10x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2961	+0.447%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1108%	1h	4.2775	+0.012%	$1.9M	$11.0M	25x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2769	−0.003%	$686K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1463%	1h	4.2769	−0.003%	$5K	$12K	10x	as long as short