Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0636%/8h= +69.6% APRpaid last 24h +0.244%

Price spread now: Lighter against BingX+0.545%7-day average +0.317% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1771.766% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 4 days (all we have)−0.506%−$51 · spread now +0.545%, 7d avg +0.317%

Together, before fees−0.169%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Lighter is 0.228% dearer against BingX than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.317%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.338% in total (about 17.6% 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	0.04586	0.0100	pay 0.0050% / 4h	3h 58m	—	$1.7M	—
Short	Lighter MEGA	0.04611	0.0736	get 0.0092% / 1h	58m 42s	$616K	$380K	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 +0.545%Rate

Funding earned: $133.56
Price spread: +0.545% → +0.317%: $22.79
Slippage, 4 orders: −$166.61
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.26
Costs to cover: 1.766%
Break-even: 8.1 days

Slippage from BingX: live order book, 3 min ago; Lighter: live order book, 32 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, 3 min ago	15.24 bp	45.3 bp −$45	103.9 bp −$1,039	971.3 bp −$97.1K	1385.7 bp −$692.8K
Sell Lighter live order book, 32 min ago	19.69 bp	37.1 bp −$37	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
Nado MEGA-PERP	0.0000%	1h	0.04586	0.000%	$197K	$140K	2x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04587	+0.022%	$1K	—	150x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04589	+0.070%	$21K	$96K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04591	+0.107%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04588	+0.048%	$4.1M	$13.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04588	+0.044%	$3.5M	$5.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04583	−0.065%	$919K	$3.2M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04560	−0.567%	$135K	−$0	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04588	+0.044%	$206K	$321K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04587	+0.022%	$759K	$400K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MEGAUSDTM	+0.0100%	4h	0.04589	+0.065%	$244K	$124K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04589	+0.065%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDTlong	+0.0100%	4h	0.04586	long leg	—	$1.7M	—
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04589	+0.065%	$17K	$55K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04592	+0.128%	$324K	$223K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04593	+0.153%	$22K	$2.0M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04604	+0.392%	$24K	$226K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04585	−0.022%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04583	−0.065%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04585	−0.024%	$129K	$799K	5x	as long as short
BloFin MEGA-USDT	+0.0120%	4h	0.04591	+0.109%	$203K	$96K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04585	−0.024%	$3	—	3x	as long as short
Phoenix MEGA	+0.0175%	1h	0.04608	+0.480%	$21K	$6K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0238% / S −0.5353%	1h	0.04587	+0.022%	$3K	—	45x	as long as short
Hyperliquid MEGA	+0.0283%	1h	0.04598	+0.257%	$7.9M	$2.6M	3x	as long as short
Lighter MEGAshort	+0.0736%	1h	0.04611	+0.545%	$616K	$380K	3x
Coinbase International MEGA-PERP-INTX	+0.1296%	1h	0.04589	+0.076%	$5K	$12K	50x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1996%	1h	0.04597	+0.238%	$111	$15	25x	as long as short