Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.015%

Price spread now: BloFin against GMX+0.079%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 BloFin

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. BloFin is 0.079% dearer against GMX than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04439	L +0.0235% / S −0.5353%	pay 0.0029% / 1h	52m 50s	$3K	—	45x
Short	BloFin MEGA-USDT	0.04443	0.0092	get 0.0046% / 4h	2h 52m	$198K	$76K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$30.04
Price spread: +0.079% → 0.000%: $7.88
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$46.15
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 29 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 BloFin live order book, 29 min ago	3.36 bp	23.3 bp −$23	65.5 bp −$655	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	−0.0288%	1h	0.04400	−0.883%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04441	+0.026%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04458	+0.417%	$20K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0049%	1h	0.04440	+0.023%	$192K	$152K	2x	as long as short
BloFin MEGA-USDTshort	+0.0092%	4h	0.04443	+0.079%	$198K	$76K	50x
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04440	+0.011%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04439	−0.020%	$20K	$79K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04440	+0.009%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04434	−0.135%	$4.0M	$12.7M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04430	−0.214%	$3.4M	$4.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04431	−0.191%	$908K	$2.8M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04460	+0.462%	$132K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04435	−0.101%	$189K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04436	−0.079%	$782K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04440	+0.011%	$229K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04437	−0.056%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04433	−0.146%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04442	+0.056%	$15K	$40K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04441	+0.033%	$236K	$110K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04452	+0.278%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04435	−0.101%	$24K	$228K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04444	+0.101%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04436	−0.089%	$126K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04444	+0.092%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0235% / S −0.5353%	1h	0.04439	long leg	$3K	—	45x
Hyperliquid MEGA	+0.1360%	1h	0.04449	+0.216%	$7.6M	$2.3M	3x	as long as short
Lighter MEGA	+0.1456%	1h	0.04454	+0.327%	$599K	$299K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2047%	1h	0.04451	+0.255%	$108	$15	25x	as long as short