MEGA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1146%/8h= +125.5% APRnext payment +$1.43 per $10,000 · paid last 24h +0.140%

Price spread now: Hyperliquid against Bulk+0.260%7-day average +0.130% · 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−$82as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on Bulk Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.334%+$33 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.260%, 7d avg +0.130%

Together, before fees+0.382%+ Points / potential airdropHyperliquid: Season 2 · farm board+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Hyperliquid is 0.130% dearer against Bulk than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.130%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.334% in total (about 36.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.43 per $10,000. 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	Bulk MEGA-USD	0.04420	0.0100	pay 0.0013% / 1h	40m 03s	$130K	$5K	10x
Short	Hyperliquid MEGA	0.04432	0.1246	get 0.0156% / 1h	40m 03s	$7.5M	$2.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.260%Rate

Funding earned: $240.66
Price spread: +0.260% → +0.130%: $13.03
Slippage, 4 orders: −$78.93
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $158.76
Costs to cover: 0.949%
Break-even: 2.4 days

Slippage from Bulk: live order book, 48 min ago; Hyperliquid: 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 Bulk live order book, 48 min ago	11.22 bp	36.6 bp −$37	75.0 bp −$750	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.58 bp	23.0 bp −$23	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
Coinbase International MEGA-PERP-INTX	−0.0288%	1h	0.04400	−0.446%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04419	−0.032%	$12K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04427	+0.158%	$20K	$7K	5x	as long as short
BloFin MEGA-USDT	+0.0062%	4h	0.04420	0.000%	$198K	$75K	50x	as long as short
Nado MEGA-PERP	+0.0075%	1h	0.04423	+0.057%	$191K	$151K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04420	0.000%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04421	+0.015%	$19K	$80K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04420	−0.005%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04421	+0.023%	$3.9M	$12.6M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04418	−0.045%	$3.4M	$4.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04418	−0.045%	$904K	$2.8M	20x	as long as short
Bulk MEGA-USDlong	+0.0100%	1h	0.04420	long leg	$130K	$5K	10x
Gate MEGA_USDT	+0.0100%	4h	0.04418	−0.045%	$188K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04420	0.000%	$769K	$351K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04420	0.000%	$228K	$111K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04423	+0.068%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04419	−0.023%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04423	+0.068%	$15K	$39K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04414	−0.135%	$235K	$109K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04421	+0.017%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04416	−0.090%	$24K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04422	+0.045%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04420	0.000%	$126K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04422	+0.055%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04418	−0.054%	$3K	—	45x	as long as short
Hyperliquid MEGAshort	+0.1246%	1h	0.04432	+0.260%	$7.5M	$2.4M	3x
Deribit MEGA_USDC-PERPETUAL	+0.1334%	1h	0.04427	+0.152%	$107	$15	25x	as long as short
Lighter MEGA	+0.1728%	1h	0.04440	+0.452%	$597K	$299K	3x	as long as short