Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.032%

Price spread now: BingX against GMX−0.235%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 BingX

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.235% cheaper against GMX than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MEGA/USD [ETH-USDC]	0.04563	L +0.0237% / S −0.5353%	pay 0.0030% / 1h	34m 49s	$3K	—	45x
Short	BingX MEGA-USDT	0.04552	0.0100	get 0.0050% / 4h	1h 34m	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.235%Rate

Funding earned: −$28.8
Price spread: −0.235% → 0.000%: −$23.45
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$74.25
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: 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 BingX live order book, 12 min ago	15.46 bp	34.8 bp −$35	97.0 bp −$970	725.4 bp −$72.5K	1206.0 bp −$603.0K

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	−0.0800%	1h	0.04490	−1.585%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04561	−0.037%	$1K	—	150x	as long as short
BloFin MEGA-USDT	+0.0061%	4h	0.04547	−0.344%	$201K	$91K	50x	as long as short
Nado MEGA-PERP	+0.0063%	1h	0.04558	−0.092%	$197K	$141K	2x	as long as short
Hyperliquid MEGA	+0.0100%	1h	0.04560	−0.055%	$7.9M	$2.6M	3x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04560	−0.049%	$18K	$89K	5x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04556	−0.138%	$4.0M	$13.6M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04550	−0.278%	$3.6M	$5.5M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04551	−0.256%	$936K	$3.1M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04555	−0.169%	$134K	$4K	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	0.04555	−0.169%	$201K	$317K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04556	−0.147%	$807K	$365K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04559	−0.081%	$229K	$117K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04553	−0.213%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDTshort	+0.0100%	4h	0.04552	−0.235%	—	$1.7M	—
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04565	+0.050%	$18K	$46K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04552	−0.232%	$321K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04538	−0.541%	$30K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04540	−0.498%	$24K	$230K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04561	−0.037%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04564	+0.028%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04557	−0.120%	$128K	$825K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04561	−0.043%	$3	—	3x	as long as short
Phoenix MEGA	+0.0175%	1h	0.04536	−0.585%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]long	L +0.0237% / S −0.5353%	1h	0.04563	long leg	$3K	—	45x
Pacifica MEGA	+0.0245%	1h	0.04551	−0.245%	$14K	$9K	3x	as long as short
Lighter MEGA	+0.0560%	1h	0.04584	+0.467%	$648K	$330K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2315%	1h	0.04574	+0.245%	$111	$15	25x	as long as short