Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1100%/8h= +120.4% APRpaid last 24h +0.214%

Price spread now: Lighter against Bitget+0.486%7-day average +0.260% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$2202.197% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.297%+$30 on $10k

Price spread, last 4 days (all we have)−0.481%−$48 · spread now +0.486%, 7d avg +0.260%

Together, before fees−0.184%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Lighter is 0.226% dearer against Bitget than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.260%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.297% in total (about 15.5% 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	Bitget MEGAUSDT	0.04528	0.0100	pay 0.0050% / 4h	2h 51m	$1.1M	$1.5M	50x
Short	Lighter MEGA	0.04550	0.1200	get 0.0150% / 1h	51m 22s	$640K	$324K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.486%Rate

Funding earned: $231
Price spread: +0.486% → +0.260%: $22.62
Slippage, 4 orders: −$207.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $33.94
Costs to cover: 2.197%
Break-even: 6.0 days

Slippage from Bitget: live order book, 5 min ago; Lighter: live order book, 9 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 Bitget live order book, 5 min ago	6.55 bp	27.9 bp −$28	179.0 bp −$1,790	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	33.51 bp	42.7 bp −$43	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
Coinbase International MEGA-PERP-INTX	−0.0432%	1h	0.04490	−0.830%	$5K	$12K	50x	as long as short
ApeX Omni MEGAUSDT	−0.0214%	1h	0.04548	+0.442%	$24K	$232K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04528	0.000%	$12K	—	150x	as long as short
BloFin MEGA-USDT	+0.0077%	4h	0.04554	+0.574%	$202K	$89K	50x	as long as short
Nado MEGA-PERP	+0.0097%	1h	0.04527	−0.022%	$195K	$140K	2x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04529	+0.026%	$17K	$90K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04530	+0.051%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04529	+0.030%	$4.0M	$13.5M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04529	+0.022%	$3.5M	$5.4M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04528	0.000%	$927K	$3.1M	20x	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	0.04530	+0.044%	$201K	$318K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04529	+0.022%	$840K	$359K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04532	+0.088%	$238K	$117K	50x	as long as short
Bitget MEGAUSDTlong	+0.0100%	4h	0.04528	long leg	$1.1M	$1.5M	50x
BingX MEGA-USDT	+0.0100%	4h	0.04529	+0.022%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04539	+0.243%	$18K	$43K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04575	+1.044%	$323K	$227K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04552	+0.530%	$28K	$1.7M	10x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04529	+0.022%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04541	+0.287%	$1K	$1.9M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04600	+1.587%	$136K	$4K	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04531	+0.074%	$127K	$824K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04527	−0.015%	$3	—	3x	as long as short
Phoenix MEGA	+0.0173%	1h	0.04575	+1.038%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04534	+0.128%	$3K	—	45x	as long as short
Lighter MEGAshort	+0.1200%	1h	0.04550	+0.486%	$640K	$324K	3x
Deribit MEGA_USDC-PERPETUAL	+0.2198%	1h	0.04546	+0.404%	$110	$15	25x	as long as short
Hyperliquid MEGA	+0.2260%	1h	0.04541	+0.285%	$7.8M	$2.5M	3x	as long as short