Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.271%

Price spread now: Coinbase International against BloFin−1.339%58s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Coinbase International is 1.339% cheaper against BloFin than usual: you would sell low and buy high (spread −1.339% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$134 on $10k: about 19 days of funding at the current rate (+$7 a day). The two prices were read 58 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	BloFin MEGA-USDT	0.04460	0.0152	pay 0.0076% / 4h	3h 07m	$199K	$76K	50x
Short	Coinbase International MEGA-PERP-INTX	0.04400	0.0384	get 0.0048% / 1h	7m 51s	$5K	$11K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −1.339%Rate

Funding earned: $48.63
Price spread: −1.339% → 0.000%: −$133.86
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$107.23
Costs to cover: 0.220%
Break-even: 22.4 days

Slippage unknown: BloFin: live order book, 14 min ago; Coinbase International: 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 BloFin live order book, 14 min ago	3.36 bp	17.1 bp −$17	55.8 bp −$558	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04465	+0.106%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04462	+0.045%	$20K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0057%	1h	0.04464	+0.101%	$193K	$158K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04466	+0.135%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04466	+0.135%	$20K	$81K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04463	+0.058%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04470	+0.230%	$4.0M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04468	+0.179%	$3.4M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04467	+0.157%	$913K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04460	0.000%	$132K	$5K	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	0.04463	+0.067%	$211K	$287K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04467	+0.157%	$793K	$366K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04469	+0.202%	$230K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04470	+0.224%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04469	+0.202%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04469	+0.202%	$14K	$41K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04454	−0.131%	$240K	$107K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04459	−0.031%	$24K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04458	−0.045%	$24K	$228K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04459	−0.022%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04467	+0.160%	$126K	$613K	5x	as long as short
BloFin MEGA-USDTlong	+0.0152%	4h	0.04460	long leg	$199K	$76K	50x
Reya MEGARUSDPERP	+0.0159%	1h	0.04466	+0.128%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04464	+0.101%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTXshort	+0.0384%	1h	0.04400	−1.339%	$5K	$11K	50x
Lighter MEGA	+0.0856%	1h	0.04487	+0.605%	$603K	$301K	3x	as long as short
Hyperliquid MEGA	+0.1075%	1h	0.04484	+0.547%	$7.6M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1631%	1h	0.04474	+0.323%	$108	$15	25x	as long as short