Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Bulk against Bybit0.000%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1161.163% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now 0.000%, 7d avg +0.070%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.070% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04455	0.0100	pay 0.0050% / 4h	1h 40m	$3.4M	$4.9M	20x
Short	Bulk MEGA-USD	0.04455	0.0100	get 0.0013% / 1h	40m 54s	$131K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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 BybitbpFee BulkbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.070%: −$6.96
Slippage, 4 orders: −$98.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$123.23
Costs to cover: 1.163%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bulk: live order book, 43 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 Bybit live order book, 2 min ago	2.24 bp	32.9 bp −$33	301.9 bp −$3,019	doesn't fit	doesn't fit
Sell Bulk live order book, 43 min ago	11.20 bp	14.7 bp −$15	27.7 bp −$277	303.3 bp −$30.3K	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	−0.0144%	1h	0.04490	+0.795%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04453	−0.041%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0043%	1h	0.04461	+0.135%	$193K	$152K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0098%	4h	0.04454	−0.022%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04460	+0.109%	$18K	$82K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04465	+0.233%	$14K	$8K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04459	+0.087%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDTlong	+0.0100%	4h	0.04455	long leg	$3.4M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04453	−0.045%	$911K	$2.9M	20x	as long as short
Bulk MEGA-USDshort	+0.0100%	1h	0.04455	0.000%	$131K	$5K	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MEGA_USDT	+0.0100%	4h	0.04455	0.000%	$190K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04458	+0.067%	$761K	$346K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04461	+0.135%	$235K	$113K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04460	+0.112%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04457	+0.045%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04444	−0.245%	$223K	$135K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04453	−0.036%	$22K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04450	−0.112%	$24K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04456	+0.022%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04459	+0.081%	$126K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0137%	4h	0.04464	+0.202%	$196K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04457	+0.047%	$3	—	3x	as long as short
Phoenix MEGA	+0.0179%	1h	0.04461	+0.135%	$20K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04453	−0.040%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0377%	1h	0.04460	+0.112%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1417%	1h	0.04468	+0.290%	$7.6M	$2.4M	3x	as long as short
Lighter MEGA	+0.1504%	1h	0.04476	+0.471%	$620K	$312K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1681%	1h	0.04461	+0.139%	$108	$15	25x	as long as short