Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0860%/8h= +94.2% APRpaid last 24h +0.206%

Price spread now: Lighter against BingX+0.519%7-day average +0.301% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$2642.641% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.285%+$28 on $10k

Price spread, last 4 days (all we have)−0.478%−$48 · spread now +0.519%, 7d avg +0.301%

Together, before fees−0.193%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Lighter is 0.218% dearer against BingX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.301%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.285% in total (about 14.9% 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	BingX MEGA-USDT	0.04620	0.0100	pay 0.0050% / 4h	3h 09m	—	$1.7M	—
Short	Lighter MEGA	0.04644	0.0960	get 0.0120% / 1h	9m 07s	$653K	$325K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.519%Rate

Funding earned: $180.6
Price spread: +0.519% → +0.301%: $21.81
Slippage, 4 orders: −$254.07
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.66
Costs to cover: 2.641%
Break-even: 9.4 days

Slippage from BingX: live order book, 8 min ago; Lighter: live order book, 57 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 BingX live order book, 8 min ago	16.36 bp	33.6 bp −$34	99.3 bp −$993	804.6 bp −$80.5K	1198.3 bp −$599.2K
Sell Lighter live order book, 57 min ago	26.48 bp	75.4 bp −$75	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	−0.0048%	1h	0.04490	−2.805%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04624	+0.086%	$13K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04610	−0.216%	$21K	$7K	5x	as long as short
Nado MEGA-PERP	+0.0038%	1h	0.04626	+0.130%	$200K	$136K	2x	as long as short
BloFin MEGA-USDT	+0.0089%	4h	0.04644	+0.519%	$201K	$90K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04624	+0.097%	$20K	$87K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04628	+0.169%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04628	+0.173%	$4.1M	$13.3M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04626	+0.130%	$3.6M	$5.3M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04624	+0.087%	$944K	$3.1M	20x	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	0.04618	−0.043%	$202K	$315K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04623	+0.065%	$861K	$362K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04624	+0.087%	$243K	$116K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04620	0.000%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDTlong	+0.0100%	4h	0.04620	long leg	—	$1.7M	—
Variational Omni MEGA	+0.0100%	4h	0.04606	−0.309%	$325K	$227K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04601	−0.410%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04608	−0.260%	$25K	$231K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04623	+0.065%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04626	+0.130%	$2K	$1.9M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04565	−1.190%	$135K	$4K	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04624	+0.085%	$130K	$822K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04625	+0.104%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04623	+0.058%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0374%	1h	0.04625	+0.108%	$19K	$41K	5x	as long as short
Lighter MEGAshort	+0.0960%	1h	0.04644	+0.519%	$653K	$325K	3x
Hyperliquid MEGA	+0.1186%	1h	0.04635	+0.320%	$7.9M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2259%	1h	0.04635	+0.327%	$112	$15	25x	as long as short