Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h +0.262%

Price spread now: Coinbase International against Bybit+0.277%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

The price spread pays, funding is against you. Coinbase International is 0.277% dearer against Bybit than usual: you sell high and buy low (spread +0.277% now, against zero (this spread has no 7-day history yet)): +$28 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04478	0.0100	pay 0.0050% / 4h	2h 17m	$3.5M	$4.9M	20x
Short	Coinbase International MEGA-PERP-INTX	0.04490	−0.0288	pay 0.0036% / 1h	17m 08s	$5K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.277%Rate

Funding earned: −$81.48
Price spread: +0.277% → 0.000%: $27.69
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$74.79
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	4.46 bp	35.2 bp −$35	494.1 bp −$4,941	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
Coinbase International MEGA-PERP-INTXshort	−0.0288%	1h	0.04490	+0.277%	$5K	$12K	50x
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04484	+0.144%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04497	+0.424%	$21K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0050%	1h	0.04488	+0.234%	$194K	$150K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0098%	4h	0.04484	+0.134%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04485	+0.148%	$20K	$80K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04489	+0.255%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04484	+0.139%	$4.0M	$12.7M	50x	as long as short
Bybit MEGAUSDTlong	+0.0100%	4h	0.04478	long leg	$3.5M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04479	+0.022%	$919K	$2.9M	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	0.04500	+0.481%	$133K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04484	+0.134%	$191K	$311K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04486	+0.179%	$773K	$356K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04490	+0.268%	$237K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04487	+0.201%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04485	+0.156%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04493	+0.341%	$239K	$109K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04494	+0.350%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04493	+0.335%	$25K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04489	+0.246%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04485	+0.156%	$127K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0155%	4h	0.04491	+0.290%	$197K	$77K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04485	+0.163%	$3	—	3x	as long as short
Backpack MEGA_USDC_PERP	+0.0190%	1h	0.04489	+0.246%	$18K	$41K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04484	+0.127%	$3K	—	45x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1066%	1h	0.04491	+0.288%	$109	$15	25x	as long as short
Hyperliquid MEGA	+0.1220%	1h	0.04498	+0.435%	$7.6M	$2.4M	3x	as long as short
Lighter MEGA	+0.2792%	1h	0.04506	+0.625%	$623K	$327K	3x	as long as short