Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0136%/8h= −14.8% APRpaid last 24h −0.018%

Price spread now: Bitget against GMX+0.099%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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—needs both histories

The price spread pays, funding is against you. Bitget is 0.099% dearer against GMX than usual: you sell high and buy low (spread +0.099% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04457	L +0.0236% / S −0.5353%	pay 0.0029% / 1h	39m 30s	$3K	—	45x
Short	Bitget MEGAUSDT	0.04461	0.0100	get 0.0050% / 4h	1h 39m	$1.1M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$28.46
Price spread: +0.099% → 0.000%: $9.87
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.58
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	4.49 bp	21.0 bp −$21	92.5 bp −$925	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.

MEGA on 28 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
Coinbase International MEGA-PERP-INTX	−0.0144%	1h	0.04490	+0.758%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04457	+0.014%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0048%	1h	0.04459	+0.065%	$193K	$152K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0098%	4h	0.04456	−0.013%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04460	+0.074%	$18K	$82K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04460	+0.085%	$14K	$8K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04461	+0.099%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04457	+0.009%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04458	+0.031%	$912K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04455	−0.036%	$131K	$5K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MEGA_USDT	+0.0100%	4h	0.04456	−0.013%	$190K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04460	+0.076%	$762K	$346K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04461	+0.099%	$235K	$113K	50x	as long as short
Bitget MEGAUSDTshort	+0.0100%	4h	0.04461	+0.099%	$1.1M	$1.4M	50x
BingX MEGA-USDT	+0.0100%	4h	0.04458	+0.031%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04457	+0.020%	$224K	$135K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04458	+0.022%	$22K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04454	−0.058%	$24K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04462	+0.121%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04460	+0.070%	$126K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0137%	4h	0.04464	+0.166%	$196K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04460	+0.077%	$3	—	3x	as long as short
Phoenix MEGA	+0.0179%	1h	0.04461	+0.099%	$20K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0236% / S −0.5353%	1h	0.04457	long leg	$3K	—	45x
Backpack MEGA_USDC_PERP	+0.0396%	1h	0.04461	+0.099%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1452%	1h	0.04472	+0.339%	$7.6M	$2.3M	3x	as long as short
Lighter MEGA	+0.1648%	1h	0.04478	+0.480%	$621K	$314K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1815%	1h	0.04464	+0.168%	$108	$15	25x	as long as short