Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0804%/8h= +88.0% APRpaid last 24h +0.246%

Price spread now: Lighter against Bitget+0.304%7-day average +0.280% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1341.344% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.339%+$34 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now +0.304%, 7d avg +0.280%

Together, before fees+0.010%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Lighter is 0.023% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.280%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.339% in total (about 17.7% 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	Bitget MEGAUSDT	0.04611	0.0100	pay 0.0050% / 4h	3h 22m	$1.1M	$1.4M	50x
Short	Lighter MEGA	0.04625	0.0904	get 0.0113% / 1h	22m 31s	$618K	$387K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.304%Rate

Funding earned: $168.84
Price spread: +0.304% → +0.280%: $2.34
Slippage, 4 orders: −$122.36
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $36.82
Costs to cover: 1.344%
Break-even: 5.5 days

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 3 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 Bitget live order book, 4 min ago	7.66 bp	29.8 bp −$30	191.0 bp −$1,910	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	13.07 bp	15.8 bp −$16	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
Bybit MEGAUSDT	−0.0241%	4h	0.04605	−0.130%	$3.5M	$5.8M	20x	as long as short
Phoenix MEGA	0.0000%	1h	0.04577	−0.737%	$21K	$7K	5x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04602	−0.199%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0050%	1h	0.04609	−0.054%	$199K	$140K	2x	as long as short
BloFin MEGA-USDT	+0.0061%	4h	0.04568	−0.933%	$203K	$95K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04595	−0.357%	$20K	$96K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04606	−0.117%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04606	−0.100%	$4.1M	$13.7M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04604	−0.152%	$925K	$3.2M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04570	−0.889%	$135K	−$0	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	0.04603	−0.173%	$207K	$332K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04604	−0.152%	$761K	$404K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04601	−0.217%	$244K	$124K	50x	as long as short
Bitget MEGAUSDTlong	+0.0100%	4h	0.04611	long leg	$1.1M	$1.4M	50x
BingX MEGA-USDT	+0.0100%	4h	0.04607	−0.087%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04604	−0.152%	$17K	$55K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04567	−0.963%	$321K	$224K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04576	−0.760%	$28K	$2.0M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04576	−0.759%	$24K	$226K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04599	−0.260%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04590	−0.455%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04606	−0.102%	$128K	$802K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04611	−0.004%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0238% / S −0.5353%	1h	0.04601	−0.213%	$3K	—	45x	as long as short
Hyperliquid MEGA	+0.0308%	1h	0.04617	+0.132%	$8.0M	$2.6M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0728%	1h	0.04606	−0.111%	$111	$15	25x	as long as short
Lighter MEGAshort	+0.0904%	1h	0.04625	+0.304%	$618K	$387K	3x
Coinbase International MEGA-PERP-INTX	+0.1296%	1h	0.04589	−0.466%	$5K	$12K	50x	as long as short