Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0123%/8h= −13.4% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against Bybit−0.022%52s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and gTrade (Gains Network) is 0.022% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04512	0.0100	pay 0.0050% / 4h	24m 25s	$3.5M	$4.9M	20x
Short	gTrade (Gains Network) MEGA/USD	0.04511	L −0.0018% / S +0.0023%	pay 0.0003% / 1h	24m 25s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.022%Rate

Funding earned: −$25.77
Price spread: −0.022% → 0.000%: −$2.22
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Net: −$50.98
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; gTrade (Gains Network): no order-book sample. 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 Bybit live order book, 3 min ago	2.22 bp	27.9 bp −$28	268.3 bp −$2,683	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) MEGA/USDshort	L −0.0018% / S +0.0023%	1h	0.04511	−0.022%	$12K	—	150x
BloFin MEGA-USDT	+0.0071%	4h	0.04511	−0.022%	$196K	$77K	50x	as long as short
Nado MEGA-PERP	+0.0096%	1h	0.04515	+0.066%	$195K	$135K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04513	+0.022%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04504	−0.177%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04514	+0.051%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04515	+0.070%	$3.9M	$12.9M	50x	as long as short
Bybit MEGAUSDTlong	+0.0100%	4h	0.04512	long leg	$3.5M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04511	−0.022%	$921K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04515	+0.063%	$133K	$2K	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	0.04511	−0.022%	$194K	$311K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04516	+0.089%	$768K	$352K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04517	+0.111%	$238K	$114K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04516	+0.089%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04510	−0.044%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04508	−0.078%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04514	+0.038%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04511	−0.022%	$25K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04518	+0.133%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04511	−0.032%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04511	−0.014%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04511	−0.024%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.479%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04516	+0.089%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0502%	1h	0.04519	+0.155%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1134%	1h	0.04522	+0.219%	$7.7M	$2.4M	3x	as long as short
Lighter MEGA	+0.1512%	1h	0.04534	+0.488%	$638K	$319K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1700%	1h	0.04522	+0.213%	$109	$15	25x	as long as short