Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: OKX against Bybit−0.044%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1411.407% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 7 days−0.042%−$4 · spread now −0.044%, 7d avg −0.019%

Together, before fees+0.092%+$9 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: OKX is 0.024% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04564	0.0100	pay 0.0050% / 4h	2h 00m	$3.6M	$5.5M	20x
Short	OKX MEGA-USDT-SWAP	0.04562	0.0100	get 0.0050% / 4h	2h 00m	$939K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.019%: −$2.44
Slippage, 4 orders: −$119.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$143.1
Costs to cover: 1.407%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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 Bybit live order book, 2 min ago	2.19 bp	31.9 bp −$32	149.1 bp −$1,491	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.29 bp	35.7 bp −$36	145.2 bp −$1,452	doesn't fit	doesn't fit

MEGA on 27 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	−0.0432%	1h	0.04490	−1.613%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04565	+0.021%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0060%	1h	0.04554	−0.219%	$197K	$140K	2x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04564	−0.009%	$18K	$90K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04566	+0.048%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04566	+0.044%	$4.1M	$13.6M	50x	as long as short
Bybit MEGAUSDTlong	+0.0100%	4h	0.04564	long leg	$3.6M	$5.5M	20x
OKX MEGA-USDT-SWAPshort	+0.0100%	4h	0.04562	−0.044%	$939K	$3.1M	20x
Bulk MEGA-USD	+0.0100%	1h	0.04567	+0.066%	$135K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04566	+0.044%	$202K	$320K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDT	+0.0100%	4h	0.04565	+0.022%	$816K	$367K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04568	+0.088%	$238K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04565	+0.022%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04565	+0.022%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04563	−0.017%	$322K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04561	−0.066%	$18K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04557	−0.153%	$24K	$229K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04564	0.000%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04566	+0.044%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04564	−0.002%	$131K	$829K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04557	−0.159%	$3	—	3x	as long as short
Phoenix MEGA	+0.0173%	1h	0.04562	−0.044%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04564	+0.011%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0635%	1h	0.04569	+0.110%	$18K	$46K	5x	as long as short
Lighter MEGA	+0.1240%	1h	0.04587	+0.504%	$649K	$336K	3x	as long as short
Hyperliquid MEGA	+0.1578%	1h	0.04575	+0.232%	$7.9M	$2.6M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1634%	1h	0.04575	+0.230%	$111	$15	25x	as long as short