Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0931%/8h= +101.9% APRpaid last 24h +0.157%

Price spread now: Hyperliquid against SunX+0.275%52s7-day average +0.098% · you sell dearer than you buy

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

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.372%+$37 on $10k

Price spread, last 3 days (all we have)−1.988%−$199 · spread now +0.275%, 7d avg +0.098%

Together, before fees−1.616%+ Points / potential airdropHyperliquid: Season 2 · farm board−$162 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Hyperliquid is 0.176% dearer against SunX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.098%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.372% in total (about 19.4% 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	SunX MEGA-USDT	0.04517	0.0100	pay 0.0050% / 4h	16m 29s	$1K	$1.9M	10x
Short	Hyperliquid MEGA	0.04529	0.1031	get 0.0129% / 1h	16m 29s	$7.7M	$2.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.275%Rate

Funding earned: $195.46
Price spread: +0.275% → +0.098%: $17.63
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $196.09
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: SunX: live order book, 9 min ago; Hyperliquid: live order book, 6 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 SunX live order book, 9 min ago	501.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.11 bp	14.3 bp −$14	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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04521	+0.089%	$12K	—	150x	as long as short
BloFin MEGA-USDT	+0.0047%	4h	0.04524	+0.155%	$195K	$77K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04516	−0.022%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04520	+0.063%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04522	+0.104%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04519	+0.044%	$3.9M	$12.9M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04517	0.000%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04516	−0.022%	$922K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04520	+0.066%	$133K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04517	0.000%	$196K	$313K	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	0.04520	+0.066%	$768K	$353K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04522	+0.111%	$238K	$114K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04520	+0.066%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04517	0.000%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04517	+0.009%	$227K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04513	−0.089%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04509	−0.177%	$25K	$230K	50x	as long as short
SunX MEGA-USDTlong	+0.0100%	4h	0.04517	long leg	$1K	$1.9M	10x
Nado MEGA-PERP	+0.0101%	1h	0.04519	+0.044%	$195K	$135K	2x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04518	+0.025%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04519	+0.041%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04518	+0.015%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.589%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04524	+0.155%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0470%	1h	0.04522	+0.111%	$18K	$41K	5x	as long as short
Hyperliquid MEGAshort	+0.1031%	1h	0.04529	+0.275%	$7.7M	$2.4M	3x
Deribit MEGA_USDC-PERPETUAL	+0.1121%	1h	0.04528	+0.241%	$110	$15	25x	as long as short
Lighter MEGA	+0.1392%	1h	0.04542	+0.553%	$639K	$320K	3x	as long as short