Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0214%/8h= +23.4% APRpaid last 24h +0.074%

Price spread now: GMX against Paradex+0.056%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.056% dearer against Paradex than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NEAR-USD-PERP	4.2618	0.0100	pay 0.0100% / 8h	36m 22s	$31K	$647	10x
Short	GMX NEAR/USD [ETH-USDC]	4.2642	L +0.0374% / S −0.0314%	get 0.0039% / 1h	36m 22s	$273K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Paradex. 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 ParadexbpFee GMXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $44.87
Price spread: +0.056% → 0.000%: $5.55
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $34.42
Costs to cover: 0.160%
Break-even: 1.6 days

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

Paradex and 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	4.2608	−0.023%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2637	+0.045%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2615	−0.006%	$110K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2690	+0.169%	$420K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2635	+0.040%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.835%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0077%	8h	4.2580	−0.089%	$7.9M	$18.3M	—	as long as short
Bybit NEARUSDT	+0.0078%	8h	4.2604	−0.033%	$218.2M	$422.0M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2630	+0.028%	$109K	$495K	50x	as long as short
Paradex NEAR-USD-PERPlong	+0.0100%	8h	4.2618	long leg	$31K	$647	10x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2662	+0.102%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2656	+0.089%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2630	+0.028%	$252.9M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2610	−0.019%	$60.7M	$284.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2630	+0.028%	$201K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2674	+0.132%	$243K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2627	+0.021%	$30.0M	$59.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2620	+0.005%	$78.0M	$141.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2660	+0.099%	$55.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2608	−0.023%	$70.8M	$126.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2620	+0.005%	—	$138.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2730	+0.262%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2670	+0.122%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2750	+0.310%	$179K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2645	+0.063%	$198K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2632	+0.033%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2660	+0.099%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2615	−0.007%	$13K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2690	+0.169%	$3.9M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2598	−0.048%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2615	−0.006%	$205K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2646	+0.065%	$7.6M	$37.2M	50x	as long as short
01 Exchange NEARUSD	+0.0128%	1h	4.2638	+0.047%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2610	−0.019%	$12.9M	$30.1M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0336%	1h	4.2659	+0.096%	$1.9M	$2.3M	25x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2723	+0.246%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0374% / S −0.0314%	1h	4.2642	+0.056%	$273K	—	100x
RISEx NEAR/USDC	+0.0404%	1h	4.2658	+0.093%	$415K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0452%	1h	4.2724	+0.249%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2717	+0.232%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0768%	1h	4.2619	+0.003%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0847%	8h	4.2780	+0.380%	$458K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.0916%	1h	4.2689	+0.167%	$366.6M	$298.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1187%	1h	4.2726	+0.253%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1720%	1h	4.2773	+0.363%	$16.4M	$23.7M	15x	as long as short