Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1144%/8h= −125.2% APRpaid last 24h −0.140%

Price spread now: SunX against Hyperliquid−0.072%7-day average −0.094% · you buy dearer than you sell

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.345%−$35 on $10k

Price spread, last 3 days (all we have)+3.467%+$347 · spread now −0.072%, 7d avg −0.094%

Together, before fees+3.122%+ Points / potential airdropHyperliquid: Season 2 · farm board+$312 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.022% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.072% now, against its 7-day average of −0.094%): +$2 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.345% in total) that is about 11 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.345% in total (about -18.0% 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	Hyperliquid MEGA	0.04428	0.1244	pay 0.0155% / 1h	41m 40s	$7.5M	$2.4M	3x
Short	SunX MEGA-USDT	0.04425	0.0100	get 0.0050% / 4h	2h 41m	$1K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee SunXbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$240.15
Price spread: −0.072% → −0.094%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$254.96
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; SunX: live order book, 4 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 Hyperliquid live order book, 11 min ago	2.14 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	500.96 bp	doesn't fit	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	−0.630%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04421	−0.171%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04425	−0.072%	$20K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0076%	1h	0.04424	−0.084%	$191K	$151K	2x	as long as short
BloFin MEGA-USDT	+0.0094%	4h	0.04417	−0.253%	$198K	$75K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04422	−0.140%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04417	−0.248%	$19K	$80K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04418	−0.224%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04417	−0.253%	$3.9M	$12.7M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04414	−0.321%	$3.4M	$4.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04416	−0.276%	$904K	$2.8M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04420	−0.185%	$130K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04416	−0.276%	$188K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04417	−0.253%	$771K	$351K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04419	−0.208%	$228K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04419	−0.208%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04416	−0.276%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04425	−0.072%	$15K	$39K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04419	−0.219%	$235K	$109K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04421	−0.168%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04416	−0.276%	$24K	$229K	50x	as long as short
SunX MEGA-USDTshort	+0.0100%	4h	0.04425	−0.072%	$1K	$1.9M	10x
Extended MEGA-USD	+0.0104%	1h	0.04418	−0.226%	$126K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04422	−0.132%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04419	−0.196%	$3K	—	45x	as long as short
Hyperliquid MEGAlong	+0.1244%	1h	0.04428	long leg	$7.5M	$2.4M	3x
Deribit MEGA_USDC-PERPETUAL	+0.1401%	1h	0.04430	+0.036%	$107	$15	25x	as long as short
Lighter MEGA	+0.1712%	1h	0.04437	+0.199%	$597K	$299K	3x	as long as short