Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.035%

Price spread now: KuCoin against GMX+0.071%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 KuCoin

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. KuCoin is 0.071% dearer against GMX than usual: you sell high and buy low (spread +0.071% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04490	L +0.0237% / S −0.5353%	pay 0.0030% / 1h	22m 55s	$3K	—	45x
Short	KuCoin MEGAUSDTM	0.04493	0.0100	get 0.0050% / 4h	2h 22m	$227K	$120K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$28.73
Price spread: +0.071% → 0.000%: $7.13
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$45.6
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 33 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 KuCoin live order book, 33 min ago	14.31 bp	322.6 bp −$323	doesn't fit	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	−0.0048%	1h	0.04589	+2.221%	$5K	$12K	50x	as long as short
Bybit MEGAUSDT	−0.0046%	4h	0.04494	+0.094%	$3.4M	$5.9M	20x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04491	+0.023%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0058%	1h	0.04489	−0.029%	$193K	$141K	2x	as long as short
BloFin MEGA-USDT	+0.0099%	4h	0.04491	+0.027%	$198K	$93K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04497	+0.167%	$18K	$91K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04493	+0.069%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04498	+0.174%	$3.9M	$13.7M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04494	+0.094%	$911K	$3.1M	20x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04490	+0.004%	$201K	$331K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDT	+0.0100%	4h	0.04497	+0.160%	$812K	$398K	50x	as long as short
KuCoin MEGAUSDTMshort	+0.0100%	4h	0.04493	+0.071%	$227K	$120K	50x
Bitget MEGAUSDT	+0.0100%	4h	0.04495	+0.116%	$1.0M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04496	+0.138%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04492	+0.049%	$18K	$56K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04482	−0.168%	$316K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04492	+0.049%	$28K	$1.8M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04484	−0.129%	$23K	$228K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04490	+0.004%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04488	−0.040%	$1K	$1.9M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04501	+0.240%	$133K	$111	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04496	+0.144%	$126K	$431K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04488	−0.045%	$3	—	3x	as long as short
Phoenix MEGA	+0.0177%	1h	0.04492	+0.049%	$20K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0237% / S −0.5353%	1h	0.04490	long leg	$3K	—	45x
Lighter MEGA	+0.0360%	1h	0.04510	+0.450%	$615K	$366K	3x	as long as short
Hyperliquid MEGA	+0.0420%	1h	0.04500	+0.234%	$7.8M	$2.6M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0507%	1h	0.04493	+0.080%	$109	$15	25x	as long as short