Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0135%/8h= −14.8% APRpaid last 24h −0.008%

Price spread now: SunX against GMX+0.190%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 SunX

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. SunX is 0.190% dearer against GMX than usual: you sell high and buy low (spread +0.190% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04432	L +0.0235% / S −0.5353%	pay 0.0029% / 1h	53m 55s	$3K	—	45x
Short	SunX MEGA-USDT	0.04440	0.0100	get 0.0050% / 4h	2h 53m	$2K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.190%Rate

Funding earned: −$28.42
Price spread: +0.190% → 0.000%: $18.95
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$29.47
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 12 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 SunX live order book, 12 min ago	500.00 bp	doesn't fit	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	−0.0288%	1h	0.04400	−0.706%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04433	+0.032%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04458	+0.596%	$20K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0044%	1h	0.04435	+0.088%	$192K	$152K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04433	+0.032%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04438	+0.147%	$20K	$79K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04442	+0.239%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04436	+0.094%	$4.0M	$12.7M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04433	+0.032%	$3.4M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04434	+0.054%	$908K	$2.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk MEGA-USD	+0.0100%	1h	0.04460	+0.641%	$132K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04432	+0.009%	$189K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04435	+0.077%	$782K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04438	+0.144%	$229K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04437	+0.122%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04434	+0.054%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04437	+0.122%	$15K	$40K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04441	+0.212%	$236K	$110K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04441	+0.203%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04435	+0.077%	$24K	$228K	50x	as long as short
SunX MEGA-USDTshort	+0.0100%	4h	0.04440	+0.190%	$2K	$1.9M	10x
Extended MEGA-USD	+0.0104%	1h	0.04436	+0.101%	$126K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0140%	4h	0.04443	+0.257%	$198K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04433	+0.023%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0235% / S −0.5353%	1h	0.04432	long leg	$3K	—	45x
Lighter MEGA	+0.1280%	1h	0.04458	+0.596%	$599K	$299K	3x	as long as short
Hyperliquid MEGA	+0.1324%	1h	0.04449	+0.404%	$7.6M	$2.3M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2299%	1h	0.04445	+0.298%	$108	$15	25x	as long as short