Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1410%/8h= +154.4% APRpaid last 24h +0.143%

Price spread now: Lighter against BloFin+0.248%7-day average +0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2432.432% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.262%+$26 on $10k

Price spread, last 3 days (all we have)−8.049%−$805 · spread now +0.248%, 7d avg +0.158%

Together, before fees−7.787%+ Points / potential airdropLighter: Season 3 · farm board−$779 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Lighter is 0.089% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.158%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.262% in total (about 13.7% 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	BloFin MEGA-USDT	0.04440	0.0102	pay 0.0051% / 4h	2h 51m	$198K	$76K	50x
Short	Lighter MEGA	0.04451	0.1512	get 0.0189% / 1h	51m 14s	$598K	$299K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.248%Rate

Funding earned: $296.04
Price spread: +0.248% → +0.158%: $8.93
Slippage, 4 orders: −$231.21
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $61.77
Costs to cover: 2.432%
Break-even: 5.5 days

Slippage from BloFin: live order book, 31 min ago; Lighter: live order book, 33 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 BloFin live order book, 31 min ago	3.36 bp	17.1 bp −$17	55.8 bp −$558	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	57.78 bp	105.3 bp −$105	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	−0.0288%	1h	0.04400	−0.894%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04429	−0.254%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04441	+0.023%	$20K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0058%	1h	0.04430	−0.214%	$191K	$152K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04429	−0.248%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04431	−0.203%	$19K	$79K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04432	−0.173%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04430	−0.236%	$4.0M	$12.7M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04428	−0.270%	$3.4M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04428	−0.270%	$907K	$2.8M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk MEGA-USD	+0.0100%	1h	0.04450	+0.225%	$131K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04428	−0.270%	$189K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04429	−0.248%	$781K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04430	−0.225%	$228K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04430	−0.225%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04428	−0.270%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04434	−0.135%	$15K	$40K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04441	+0.022%	$236K	$110K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04452	+0.267%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04436	−0.090%	$24K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04431	−0.203%	$1K	$1.9M	10x	as long as short
BloFin MEGA-USDTlong	+0.0102%	4h	0.04440	long leg	$198K	$76K	50x
Extended MEGA-USD	+0.0104%	1h	0.04430	−0.222%	$126K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04430	−0.234%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04428	−0.261%	$3K	—	45x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1172%	1h	0.04437	−0.074%	$107	$15	25x	as long as short
Hyperliquid MEGA	+0.1356%	1h	0.04443	+0.065%	$7.6M	$2.3M	3x	as long as short
Lighter MEGAshort	+0.1512%	1h	0.04451	+0.248%	$598K	$299K	3x