Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0836%/8h= −91.5% APRpaid last 24h −0.239%

Price spread now: MEXC against Lighter−0.522%7-day average −0.284% · you buy dearer than you sell

Net, funding: paid 7d − costs−$258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2242.240% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.342%−$34 on $10k

Price spread, last 4 days (all we have)+0.487%+$49 · spread now −0.522%, 7d avg −0.284%

Together, before fees+0.146%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and MEXC is 0.238% cheaper against Lighter than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.284%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.342% in total (about -17.8% 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	Lighter MEGA	0.04598	0.0936	pay 0.0117% / 1h	25m 52s	$650K	$344K	3x
Short	MEXC MEGA_USDT	0.04574	0.0100	get 0.0050% / 4h	3h 25m	$802K	$376K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now −0.522%Rate

Funding earned: −$175.56
Price spread: −0.522% → −0.284%: −$23.77
Slippage, 4 orders: −$223.97
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$423.3
Costs to cover: 2.240%
Break-even: never at this rate

Slippage from Lighter: live order book, 20 min ago; MEXC: live order book, 20 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 Lighter live order book, 20 min ago	33.52 bp	125.3 bp −$125	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 20 min ago	2.17 bp	9.5 bp −$9	75.6 bp −$756	238.4 bp −$23.8K	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	−0.0680%	1h	0.04589	−0.185%	$5K	$12K	50x	as long as short
Bybit MEGAUSDT	−0.0046%	4h	0.04575	−0.500%	$3.5M	$5.8M	20x	as long as short
Phoenix MEGA	0.0000%	1h	0.04583	−0.326%	$21K	$7K	5x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04573	−0.544%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0086%	1h	0.04568	−0.642%	$197K	$144K	2x	as long as short
BloFin MEGA-USDT	+0.0087%	4h	0.04590	−0.174%	$203K	$95K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04575	−0.507%	$19K	$91K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04572	−0.563%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04575	−0.507%	$4.1M	$13.7M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04572	−0.565%	$933K	$3.2M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk MEGA-USD	+0.0100%	1h	0.04599	+0.012%	$136K	$111	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04573	−0.544%	$203K	$327K	20x	as long as short
MEXC MEGA_USDTshort	+0.0100%	4h	0.04574	−0.522%	$802K	$376K	50x
KuCoin MEGAUSDTM	+0.0100%	4h	0.04574	−0.522%	$233K	$119K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04575	−0.500%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04574	−0.522%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04580	−0.391%	$18K	$53K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04572	−0.562%	$322K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04585	−0.283%	$29K	$1.8M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04593	−0.109%	$24K	$230K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04573	−0.544%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04574	−0.522%	$990	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04575	−0.496%	$128K	$821K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04570	−0.616%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04573	−0.535%	$3K	—	45x	as long as short
Hyperliquid MEGA	+0.0338%	1h	0.04584	−0.315%	$7.9M	$2.6M	3x	as long as short
Lighter MEGAlong	+0.0936%	1h	0.04598	long leg	$650K	$344K	3x
Deribit MEGA_USDC-PERPETUAL	+0.1149%	1h	0.04580	−0.383%	$111	$15	25x	as long as short