Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0123%/8h= −13.4% APRpaid last 24h −0.036%

Price spread now: gTrade (Gains Network) against Orderly−0.022%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 gTrade (Gains Network)

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 gTrade (Gains Network) is 0.022% cheaper against Orderly than usual: you would sell low and buy high (−$2 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	Orderly PERP_MEGA_USDC	0.04578	0.0100	pay 0.0050% / 4h	2h 20m	$3K	$2K	10x
Short	gTrade (Gains Network) MEGA/USD	0.04577	L +0.0001% / S +0.0023%	pay 0.0003% / 1h	20m 39s	$1K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.022%Rate

Funding earned: −$25.77
Price spread: −0.022% → 0.000%: −$2.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$45.95
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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 27 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	−0.0432%	1h	0.04490	−1.913%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USDshort	L +0.0001% / S +0.0023%	1h	0.04577	−0.022%	$1K	—	150x
Nado MEGA-PERP	+0.0065%	1h	0.04578	+0.011%	$198K	$140K	2x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04575	−0.060%	$18K	$90K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04575	−0.066%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04576	−0.052%	$4.0M	$13.5M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04574	−0.087%	$3.6M	$5.4M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04574	−0.087%	$938K	$3.1M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04585	+0.152%	$135K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04575	−0.066%	$203K	$319K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDT	+0.0100%	4h	0.04574	−0.087%	$826K	$365K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04575	−0.066%	$239K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04575	−0.066%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04573	−0.109%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04575	−0.062%	$323K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04576	−0.044%	$18K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04578	0.000%	$24K	$229K	50x	as long as short
Orderly PERP_MEGA_USDClong	+0.0100%	4h	0.04578	long leg	$3K	$2K	10x
SunX MEGA-USDT	+0.0100%	4h	0.04581	+0.066%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04574	−0.092%	$131K	$829K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04577	−0.028%	$3	—	3x	as long as short
Phoenix MEGA	+0.0173%	1h	0.04582	+0.087%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04576	−0.044%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0673%	1h	0.04579	+0.022%	$18K	$46K	5x	as long as short
Lighter MEGA	+0.1312%	1h	0.04597	+0.415%	$649K	$329K	3x	as long as short
Hyperliquid MEGA	+0.1855%	1h	0.04584	+0.142%	$7.9M	$2.5M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2022%	1h	0.04588	+0.210%	$111	$15	25x	as long as short