Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.1188%/8hnext payment +$1.48 per $10,000 · paid last 24h +0.265%

Price spread now: Coinbase International against GMX−2.270%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Coinbase International

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. Coinbase International is 2.270% cheaper against GMX than usual: you would sell low and buy high (spread −2.270% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$227 on $10k: about 6.4 days of funding at the current rate (+$36 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04503	L +0.0236% / S −0.5353%	pay 0.0030% / 1h	6m 06s	$3K	—	45x
Short	Coinbase International MEGA-PERP-INTX	0.04400	0.1424	get 0.0178% / 1h	6m 06s	$5K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −2.270%Rate

Funding earned: $249.43
Price spread: −2.270% → 0.000%: −$226.99
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.44
Costs to cover: 0.220%
Break-even: 7.0 days

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

GMX and Coinbase International: 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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04503	+0.011%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04502	−0.011%	$21K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0008%	1h	0.04505	+0.067%	$195K	$163K	2x	as long as short
BloFin MEGA-USDT	+0.0095%	4h	0.04499	−0.078%	$202K	$78K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0095%	4h	0.04499	−0.078%	$3K	$2K	10x	as long as short
Lighter MEGA	+0.0096%	1h	0.04526	+0.522%	$607K	$295K	3x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04504	+0.024%	$22K	$81K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04507	+0.093%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04503	+0.011%	$4.1M	$13.1M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04504	+0.033%	$3.5M	$4.8M	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	0.04502	−0.011%	$927K	$3.0M	20x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04503	+0.011%	$183K	$270K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04502	−0.011%	$797K	$359K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04503	+0.011%	$233K	$115K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04505	+0.056%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04504	+0.033%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04506	+0.078%	$14K	$41K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04457	−1.011%	$240K	$106K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04457	−1.000%	$25K	$1.6M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04500	−0.056%	$24K	$227K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04499	−0.078%	$2K	$2.0M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04440	−1.388%	$131K	$5K	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04504	+0.037%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04502	−0.002%	$3	—	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0194%	1h	0.04506	+0.082%	$109	$15	25x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0236% / S −0.5353%	1h	0.04503	long leg	$3K	—	45x
Hyperliquid MEGA	+0.1109%	1h	0.04519	+0.369%	$7.7M	$2.5M	3x	as long as short
Coinbase International MEGA-PERP-INTXshort	+0.1424%	1h	0.04400	−2.270%	$5K	$12K	50x