Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0239%/8h= +26.1% APRpaid last 24h +0.235%

Price spread now: Coinbase International against Bybit−0.983%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Coinbase International is 0.983% cheaper against Bybit than usual: you would sell low and buy high (spread −0.983% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$98 on $10k: about 14 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04535	0.0057	pay 0.0029% / 4h	1m 17s	$3.5M	$5.1M	20x
Short	Coinbase International MEGA-PERP-INTX	0.04490	0.0296	get 0.0037% / 1h	1m 17s	$5K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.983%Rate

Funding earned: $50.11
Price spread: −0.983% → 0.000%: −$98.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$69.24
Costs to cover: 0.210%
Break-even: 16.7 days

Slippage unknown: Bybit: live order book, 6 min ago; Coinbase International: no order-book sample. Net counts fees only.

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 Bybit live order book, 6 min ago	1.11 bp	34.2 bp −$34	280.0 bp −$2,800	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04536	+0.027%	$12K	—	150x	as long as short
Bybit MEGAUSDTlong	+0.0057%	4h	0.04535	long leg	$3.5M	$5.1M	20x
Aster MEGAUSDT	+0.0100%	4h	0.04526	−0.190%	$18K	$85K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04526	−0.205%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04543	+0.173%	$4.0M	$13.0M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04534	−0.022%	$930K	$3.0M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04515	−0.444%	$133K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04539	+0.088%	$198K	$313K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04542	+0.154%	$774K	$355K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04530	−0.110%	$238K	$114K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MEGAUSDT	+0.0100%	4h	0.04539	+0.088%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04536	+0.022%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04523	−0.267%	$227K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04511	−0.532%	$28K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04515	−0.441%	$25K	$231K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04537	+0.044%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04537	+0.044%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04539	+0.091%	$129K	$613K	5x	as long as short
Nado MEGA-PERP	+0.0109%	1h	0.04545	+0.232%	$197K	$137K	2x	as long as short
BloFin MEGA-USDT	+0.0144%	4h	0.04520	−0.331%	$196K	$76K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04541	+0.140%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04535	+0.007%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTXshort	+0.0296%	1h	0.04490	−0.983%	$5K	$12K	50x
Phoenix MEGA	+0.0355%	1h	0.04506	−0.639%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERP	+0.0388%	1h	0.04526	−0.198%	$18K	$41K	5x	as long as short
Hyperliquid MEGA	+0.0862%	1h	0.04547	+0.273%	$7.8M	$2.4M	3x	as long as short
Lighter MEGA	+0.1224%	1h	0.04546	+0.243%	$639K	$320K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1931%	1h	0.04549	+0.311%	$110	$15	25x	as long as short