Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.027%

Price spread now: Bybit against gTrade (Gains Network)−0.066%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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. Bybit is 0.066% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) MEGA/USD	0.04534	L +0.0001% / S +0.0023%	pay 0.0000% / 1h	44m 48s	$1K	—	150x
Short	Bybit MEGAUSDT	0.04531	0.0100	get 0.0050% / 4h	1h 44m	$3.5M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.066%Rate

Funding earned: $20.88
Price spread: −0.066% → 0.000%: −$6.62
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.73
Costs to cover: 0.230%
Break-even: 9.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 3 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.21 bp	36.1 bp −$36	137.0 bp −$1,370	doesn't fit	doesn't fit

gTrade (Gains Network): 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-INTX	−0.0800%	1h	0.04490	−0.962%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USDlong	L +0.0001% / S +0.0023%	1h	0.04534	long leg	$1K	—	150x
Nado MEGA-PERP	+0.0063%	1h	0.04533	−0.022%	$196K	$141K	2x	as long as short
BloFin MEGA-USDT	+0.0076%	4h	0.04528	−0.132%	$202K	$90K	50x	as long as short
Hyperliquid MEGA	+0.0100%	1h	0.04539	+0.112%	$7.8M	$2.6M	3x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04537	+0.069%	$18K	$90K	5x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04533	−0.015%	$4.0M	$13.6M	50x	as long as short
Bybit MEGAUSDTshort	+0.0100%	4h	0.04531	−0.066%	$3.5M	$5.5M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04529	−0.110%	$932K	$3.1M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04530	−0.086%	$134K	$4K	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	0.04528	−0.132%	$200K	$317K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04539	+0.110%	$804K	$364K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04537	+0.066%	$226K	$117K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04532	−0.044%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04531	−0.066%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04540	+0.132%	$18K	$46K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04530	−0.084%	$320K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04531	−0.068%	$30K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04534	0.000%	$24K	$230K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04534	0.000%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04528	−0.132%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04537	+0.063%	$128K	$830K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04534	+0.005%	$3	—	3x	as long as short
Phoenix MEGA	+0.0175%	1h	0.04544	+0.221%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04535	+0.020%	$3K	—	45x	as long as short
Pacifica MEGA	+0.0245%	1h	0.04527	−0.157%	$14K	$9K	3x	as long as short
Lighter MEGA	+0.0592%	1h	0.04555	+0.463%	$644K	$330K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1911%	1h	0.04545	+0.249%	$110	$15	25x	as long as short