Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1236%/8h= +135.3% APRpaid last 24h +0.194%

Price spread now: Lighter against Binance+0.565%7-day average +0.269% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$2162.160% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 4 days (all we have)−0.567%−$57 · spread now +0.565%, 7d avg +0.269%

Together, before fees−0.259%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Lighter is 0.296% dearer against Binance than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.269%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.308% in total (about 16.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MEGAUSDT	0.04511	0.0100	pay 0.0050% / 4h	11m 30s	$3.9M	$12.9M	50x
Short	Lighter MEGA	0.04536	0.1336	get 0.0167% / 1h	11m 30s	$638K	$320K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.565%Rate

Funding earned: $259.56
Price spread: +0.565% → +0.269%: $29.59
Slippage, 4 orders: −$205.95
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $73.2
Costs to cover: 2.160%
Break-even: 5.0 days

Slippage from Binance: live order book, 14 min ago; Lighter: live order book, 59 min ago.

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 Binance live order book, 14 min ago	1.11 bp	13.8 bp −$14	97.5 bp −$975	doesn't fit	doesn't fit
Sell Lighter live order book, 59 min ago	31.08 bp	75.8 bp −$76	doesn't fit	doesn't fit	doesn't fit

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	0.04511	+0.015%	$12K	—	150x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04511	+0.011%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04513	+0.056%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04515	+0.091%	$14K	$9K	3x	as long as short
Binance MEGAUSDTlong	+0.0100%	4h	0.04511	long leg	$3.9M	$12.9M	50x
Bybit MEGAUSDT	+0.0100%	4h	0.04508	−0.056%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04508	−0.056%	$919K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04520	+0.210%	$133K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04510	−0.011%	$196K	$313K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04511	+0.011%	$764K	$354K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MEGAUSDTM	+0.0100%	4h	0.04512	+0.033%	$237K	$114K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04510	−0.011%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04507	−0.078%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04515	+0.096%	$227K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04506	−0.110%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04501	−0.211%	$25K	$231K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04512	+0.033%	$2K	$1.9M	10x	as long as short
Nado MEGA-PERP	+0.0103%	1h	0.04509	−0.022%	$195K	$135K	2x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04509	−0.041%	$128K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0120%	4h	0.04503	−0.166%	$195K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04509	−0.037%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04512	+0.044%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.446%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04514	+0.077%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0436%	1h	0.04514	+0.077%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.0947%	1h	0.04518	+0.171%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1213%	1h	0.04519	+0.193%	$109	$15	25x	as long as short
Lighter MEGAshort	+0.1336%	1h	0.04536	+0.565%	$638K	$320K	3x