Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.235%

Price spread now: Bybit against Coinbase International+0.236%54s7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Bybit

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. Bybit is 0.236% dearer against Coinbase International than usual: you sell high and buy low (spread +0.236% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 4.0 days. The two prices were read 54 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	Coinbase International MEGA-PERP-INTX	0.04490	0.0296	pay 0.0037% / 1h	37m 24s	$5K	$12K	50x
Short	Bybit MEGAUSDT	0.04501	0.0100	get 0.0050% / 4h	37m 24s	$3.5M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.236%Rate

Funding earned: −$41.16
Price spread: +0.236% → 0.000%: $23.61
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.55
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Bybit: live order book, just now. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bybit live order book, just now	1.11 bp	28.9 bp −$29	143.8 bp −$1,438	doesn't fit	doesn't fit

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	0.04504	+0.303%	$12K	—	150x	as long as short
BloFin MEGA-USDT	+0.0056%	4h	0.04506	+0.347%	$195K	$77K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04506	+0.347%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04504	+0.303%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04507	+0.370%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04507	+0.363%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDTshort	+0.0100%	4h	0.04501	+0.236%	$3.5M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04502	+0.258%	$917K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04505	+0.325%	$133K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04504	+0.303%	$193K	$309K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDT	+0.0100%	4h	0.04503	+0.281%	$769K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04503	+0.281%	$237K	$114K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04505	+0.325%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04504	+0.303%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04503	+0.279%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04507	+0.375%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04499	+0.192%	$25K	$231K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04508	+0.392%	$1K	$1.9M	10x	as long as short
Nado MEGA-PERP	+0.0102%	1h	0.04505	+0.336%	$195K	$135K	2x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04502	+0.252%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04506	+0.347%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04503	+0.290%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTXlong	+0.0296%	1h	0.04490	long leg	$5K	$12K	50x
Phoenix MEGA	+0.0355%	1h	0.04508	+0.392%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0678%	1h	0.04509	+0.414%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1091%	1h	0.04518	+0.610%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1370%	1h	0.04512	+0.485%	$109	$15	25x	as long as short
Lighter MEGA	+0.1544%	1h	0.04527	+0.815%	$637K	$319K	3x	as long as short