Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.5253%/8h= +575.2% APRpaid last 24h +1.087%

Price spread now: GMX against OKX+0.007%7-day average — · you sell dearer than you buy

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

Long on OKX Short on GMX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$158 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MEGA-USDT-SWAP	0.04463	0.0100	pay 0.0050% / 4h	1h 23m	$910K	$2.9M	20x
Short	GMX MEGA/USD [ETH-USDC]	0.04463	L +0.0236% / S −0.5353%	get 0.0669% / 1h	23m 11s	$3K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $1,103.09
Price spread: +0.007% → 0.000%: $0.67
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $1,081.76
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	1.12 bp	37.0 bp −$37	175.4 bp −$1,754	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.

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	+0.614%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04465	+0.045%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0052%	1h	0.04467	+0.101%	$193K	$151K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0099%	4h	0.04464	+0.022%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04465	+0.053%	$18K	$82K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04464	+0.013%	$14K	$8K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04467	+0.090%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04463	0.000%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAPlong	+0.0100%	4h	0.04463	long leg	$910K	$2.9M	20x
Bulk MEGA-USD	+0.0100%	1h	0.04453	−0.215%	$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	0.04463	0.000%	$191K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04465	+0.045%	$752K	$348K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04464	+0.022%	$235K	$113K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04467	+0.090%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04464	+0.022%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04451	−0.259%	$224K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04462	−0.019%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04459	−0.090%	$24K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04467	+0.090%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04465	+0.048%	$126K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0135%	4h	0.04465	+0.045%	$195K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04467	+0.099%	$3	—	3x	as long as short
Phoenix MEGA	+0.0179%	1h	0.04460	−0.067%	$20K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]short	L +0.0236% / S −0.5353%	1h	0.04463	+0.007%	$3K	—	45x
Backpack MEGA_USDC_PERP	+0.0367%	1h	0.04467	+0.090%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1338%	1h	0.04473	+0.233%	$7.6M	$2.3M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1833%	1h	0.04474	+0.238%	$108	$15	25x	as long as short
Lighter MEGA	+0.2872%	1h	0.04486	+0.515%	$631K	$323K	3x	as long as short