Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Bybit against Bulk+0.179%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$900.902% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.179%, 7d avg −0.070%

Together, before fees−0.136%−$14 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: Bybit is 0.249% dearer against Bulk than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk MEGA-USD	0.04470	0.0100	pay 0.0013% / 1h	11m 25s	$132K	$5K	10x
Short	Bybit MEGAUSDT	0.04478	0.0100	get 0.0050% / 4h	1h 11m	$3.5M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now +0.179%Rate

Funding earned: $0
Price spread: +0.179% → −0.070%: $24.86
Slippage, 4 orders: −$72.16
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.31
Costs to cover: 0.902%
Break-even: never at this rate

Slippage from Bulk: live order book, 7 min ago; Bybit: live order book, 1 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 Bulk live order book, 7 min ago	11.17 bp	14.7 bp −$15	48.7 bp −$487	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.23 bp	33.5 bp −$34	143.7 bp −$1,437	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
Coinbase International MEGA-PERP-INTX	−0.0144%	1h	0.04490	+0.456%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04480	+0.224%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0054%	1h	0.04483	+0.291%	$194K	$136K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0099%	4h	0.04479	+0.201%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04481	+0.247%	$18K	$82K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04482	+0.277%	$14K	$8K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04481	+0.246%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDTshort	+0.0100%	4h	0.04478	+0.179%	$3.5M	$4.9M	20x
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04478	+0.179%	$911K	$2.9M	20x	as long as short
Bulk MEGA-USDlong	+0.0100%	1h	0.04470	long leg	$132K	$5K	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MEGA_USDT	+0.0100%	4h	0.04480	+0.224%	$192K	$311K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04480	+0.224%	$767K	$352K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04482	+0.268%	$236K	$113K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04481	+0.246%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04478	+0.179%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04468	−0.035%	$224K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04479	+0.198%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04479	+0.201%	$24K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04480	+0.224%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04480	+0.226%	$127K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0132%	4h	0.04483	+0.291%	$195K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04480	+0.221%	$3	—	3x	as long as short
Phoenix MEGA	+0.0179%	1h	0.04485	+0.336%	$20K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04479	+0.199%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0453%	1h	0.04486	+0.358%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.1233%	1h	0.04488	+0.396%	$7.6M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1268%	1h	0.04487	+0.374%	$109	$15	25x	as long as short
Lighter MEGA	+0.2528%	1h	0.04504	+0.761%	$633K	$323K	3x	as long as short