Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Bybit against KuCoin−0.133%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$599as in the Funding arb table

Net, price: spread back to 7d avg − costs−$590as in the Price arb table

costs, in and out, $10k−$5825.822% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.133%, 7d avg −0.052%

Together, before fees−0.059%−$6 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: Bybit is 0.081% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MEGAUSDTM	0.04511	0.0100	pay 0.0050% / 4h	31m 38s	$237K	$114K	50x
Short	Bybit MEGAUSDT	0.04505	0.0100	get 0.0050% / 4h	31m 38s	$3.5M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.052%: −$8.06
Slippage, 4 orders: −$559.16
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$590.23
Costs to cover: 5.822%
Break-even: never at this rate

Slippage from KuCoin: live order book, 29 min ago; Bybit: live order book, 1 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 KuCoin live order book, 29 min ago	12.20 bp	261.4 bp −$261	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.11 bp	29.2 bp −$29	136.0 bp −$1,360	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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04509	−0.036%	$12K	—	150x	as long as short
BloFin MEGA-USDT	+0.0078%	4h	0.04527	+0.355%	$196K	$77K	50x	as long as short
Nado MEGA-PERP	+0.0098%	1h	0.04511	0.000%	$195K	$135K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04510	−0.022%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04509	−0.050%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04509	−0.038%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04509	−0.044%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDTshort	+0.0100%	4h	0.04505	−0.133%	$3.5M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04508	−0.067%	$918K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04505	−0.133%	$133K	$5K	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	0.04507	−0.089%	$193K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04509	−0.044%	$767K	$352K	50x	as long as short
KuCoin MEGAUSDTMlong	+0.0100%	4h	0.04511	long leg	$237K	$114K	50x
Bitget MEGAUSDT	+0.0100%	4h	0.04509	−0.044%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04508	−0.067%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04497	−0.300%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04504	−0.158%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04506	−0.111%	$25K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04511	0.000%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04509	−0.050%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04510	−0.012%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04510	−0.027%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.457%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04504	−0.155%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0664%	1h	0.04514	+0.067%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1163%	1h	0.04518	+0.157%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1413%	1h	0.04517	+0.131%	$109	$15	25x	as long as short
Lighter MEGA	+0.1528%	1h	0.04531	+0.443%	$637K	$319K	3x	as long as short