Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.5253%/8h= +575.2% APRpaid last 24h +1.442%

Price spread now: GMX against Variational Omni+0.572%50s7-day average — · you sell dearer than you buy

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

Long on Variational Omni 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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$158 a day on $10k at the current rate, and GMX is 0.572% dearer against Variational Omni than usual: you sell high and buy low: +$57 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MEGA	0.04509	0.0100	pay 0.0050% / 4h	2h 18m	$318K	$226K	—
Short	GMX MEGA/USD [ETH-USDC]	0.04535	L +0.0237% / S −0.5353%	get 0.0669% / 1h	18m 32s	$3K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.572%Rate

Funding earned: $1,103.09
Price spread: +0.572% → 0.000%: $57.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $1,148.28
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 30 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 Variational Omni RFQ quote, 30 min ago	5.53 bp	doesn't fit	189.1 bp −$1,891	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	−0.0048%	1h	0.04589	+1.781%	$5K	$12K	50x	as long as short
Bybit MEGAUSDT	−0.0032%	4h	0.04543	+0.749%	$3.5M	$5.9M	20x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04535	+0.565%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0052%	1h	0.04533	+0.539%	$195K	$142K	2x	as long as short
BloFin MEGA-USDT	+0.0094%	4h	0.04526	+0.372%	$199K	$93K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04544	+0.765%	$19K	$91K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04540	+0.687%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04546	+0.809%	$4.0M	$13.8M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04545	+0.794%	$920K	$3.2M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04490	−0.426%	$133K	$111	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	0.04541	+0.705%	$203K	$333K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04544	+0.772%	$812K	$400K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04532	+0.505%	$229K	$120K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04542	+0.727%	$1.0M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04543	+0.749%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04539	+0.661%	$18K	$57K	5x	as long as short
Variational Omni MEGAlong	+0.0100%	4h	0.04509	long leg	$318K	$226K	—
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04491	−0.404%	$20K	$1.9M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04492	−0.382%	$23K	$228K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04536	+0.594%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04536	+0.594%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04542	+0.724%	$128K	$431K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04535	+0.567%	$3	—	3x	as long as short
Phoenix MEGA	+0.0177%	1h	0.04526	+0.372%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]short	L +0.0237% / S −0.5353%	1h	0.04535	+0.572%	$3K	—	45x
Lighter MEGA	+0.0368%	1h	0.04556	+1.038%	$621K	$366K	3x	as long as short
Hyperliquid MEGA	+0.0400%	1h	0.04542	+0.727%	$7.8M	$2.6M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1095%	1h	0.04542	+0.729%	$110	$15	25x	as long as short