Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.5253%/8h= +575.2% APRpaid last 24h +1.226%

Price spread now: GMX against Orderly−0.040%7-day average — · you buy dearer than you sell

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

Long on Orderly 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

Funding pays, the price is against you. GMX is 0.040% cheaper against Orderly than usual: you would sell low and buy high (spread −0.040% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about under an hour of funding at the current rate (+$158 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MEGA_USDC	0.04525	0.0100	pay 0.0050% / 4h	3h 43m	$3K	$2K	10x
Short	GMX MEGA/USD [ETH-USDC]	0.04523	L +0.0236% / S −0.5353%	get 0.0669% / 1h	43m 15s	$3K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $1,103.09
Price spread: −0.040% → 0.000%: −$3.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $1,081.11
Costs to cover: 0.180%
Break-even: 0.1 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	0.04490	−0.765%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04524	−0.019%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04503	−0.486%	$21K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0069%	1h	0.04521	−0.077%	$196K	$136K	2x	as long as short
BloFin MEGA-USDT	+0.0078%	4h	0.04501	−0.530%	$196K	$76K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04520	−0.105%	$20K	$86K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04523	−0.033%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04525	0.000%	$3.9M	$13.1M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04525	0.000%	$3.5M	$5.2M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04520	−0.110%	$922K	$3.0M	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	0.04510	−0.331%	$133K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04521	−0.088%	$197K	$312K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04525	0.000%	$838K	$359K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04525	0.000%	$238K	$115K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04525	0.000%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04523	−0.044%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04504	−0.464%	$18K	$41K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04503	−0.491%	$317K	$227K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04503	−0.496%	$28K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04502	−0.508%	$25K	$231K	50x	as long as short
Orderly PERP_MEGA_USDClong	+0.0100%	4h	0.04525	long leg	$3K	$2K	10x
SunX MEGA-USDT	+0.0100%	4h	0.04525	0.000%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04524	−0.032%	$126K	$745K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04524	−0.015%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]short	L +0.0236% / S −0.5353%	1h	0.04523	−0.040%	$3K	—	45x
Lighter MEGA	+0.0800%	1h	0.04547	+0.486%	$639K	$320K	3x	as long as short
Hyperliquid MEGA	+0.0941%	1h	0.04536	+0.245%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2778%	1h	0.04539	+0.305%	$110	$15	25x	as long as short