Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.060%

Price spread now: GMX against SunX−0.223%7-day average −0.153% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.247%+$25 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.223%, 7d avg −0.153%

Together, before fees+0.238%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.070% cheaper against SunX than usual: you would sell low and buy high (spread −0.223% now, against its 7-day average of −0.153%). If the spread goes back, that is −$7 on $10k: about 42 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.4510	0.0100	pay 0.0100% / 8h	5h 04m	$1K	$1.4M	20x
Short	GMX NEAR/USD [ETH-USDC]	4.4411	L +0.0352% / S −0.0235%	get 0.0029% / 1h	4m 02s	$266K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.223%Rate

Funding earned: $28.35
Price spread: −0.223% → −0.153%: −$7.02
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $1.32
Costs to cover: 0.200%
Break-even: 6.7 days

Slippage unknown: SunX: live order book, 10 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 SunX live order book, 10 min ago	494.03 bp	doesn't fit	doesn't fit	doesn't fit	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	4.4362	−0.332%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4520	+0.022%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4468	−0.094%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4513	+0.007%	$563K	$21.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4416	−0.211%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.965%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4380	−0.292%	$115K	$516K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4495	−0.035%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4608	+0.221%	$273.7M	$1.12B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4587	+0.173%	$223.4M	$429.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4620	+0.247%	$63.6M	$305.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4470	−0.091%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4587	+0.173%	$32.3M	$65.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4760	+0.562%	$75.6M	$150.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4620	+0.247%	$55.3M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4685	+0.393%	$73.6M	$131.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4710	+0.449%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4486	−0.053%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4994	+1.088%	$270K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5311	+1.800%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5320	+1.820%	$174K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4400	−0.247%	$256K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4436	−0.166%	$57K	$237K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.4510	long leg	$1K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.4478	−0.072%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4620	+0.247%	$457K	$4.1M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4600	+0.202%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4425	−0.191%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4470	−0.090%	$207K	$40K	3x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4674	+0.368%	$4.0M	$19.5M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4500	−0.022%	$14.0M	$33.4M	75x	as long as short
Aster NEARUSDT	+0.0281%	8h	4.4447	−0.142%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]short	L +0.0352% / S −0.0235%	1h	4.4411	−0.223%	$266K	—	100x
01 Exchange NEARUSD	+0.0384%	1h	4.4405	−0.236%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4480	−0.067%	$215K	$1.8M	10x	as long as short
Nado NEAR-PERP	+0.0481%	1h	4.4336	−0.391%	$1.9M	$3.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0493%	1h	4.4458	−0.117%	$1.9M	$4.5M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0533%	1h	4.4588	+0.175%	$1.4M	$6.7M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0691%	1h	4.4563	+0.119%	$8.3M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0704%	1h	4.4648	+0.310%	$1.5M	$7.2M	10x	as long as short
Hyperliquid NEAR	+0.0760%	1h	4.4627	+0.263%	$370.8M	$325.8M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.5453	+2.119%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4432	−0.176%	$570K	$1.4M	10x	as long as short
Lighter NEAR	+0.1120%	1h	4.4645	+0.303%	$17.9M	$27.1M	15x	as long as short
Aftermath Perps NEARUSD	+0.1646%	1h	4.4963	+1.018%	$6K	$12K	10x	as long as short