Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0298%/8h= +32.7% APRpaid last 24h +0.026%

Price spread now: Reya against Bybit−0.092%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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.092% cheaper against Bybit than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 25 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MEGAUSDT	0.04591	−0.0140	get 0.0070% / 4h	3h 47m	$3.5M	$5.9M	20x
Short	Reya MEGARUSDPERP	0.04587	0.0159	get 0.0020% / 1h	47m 45s	$3	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.092%Rate

Funding earned: $62.68
Price spread: −0.092% → 0.000%: −$9.19
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $36.49
Costs to cover: 0.170%
Break-even: 2.9 days

Slippage unknown: Bybit: live order book, 5 min ago; Reya: 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, 5 min ago	5.47 bp	51.1 bp −$51	217.8 bp −$2,178	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Bybit MEGAUSDTlong	−0.0140%	4h	0.04591	long leg	$3.5M	$5.9M	20x
Phoenix MEGA	0.0000%	1h	0.04555	−0.784%	$21K	$7K	5x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04588	−0.066%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0033%	1h	0.04586	−0.098%	$197K	$140K	2x	as long as short
BloFin MEGA-USDT	+0.0076%	4h	0.04569	−0.479%	$203K	$95K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04592	+0.016%	$21K	$96K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04585	−0.137%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04592	+0.025%	$4.1M	$13.7M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04589	−0.044%	$920K	$3.2M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04570	−0.457%	$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	0.04591	0.000%	$206K	$321K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04593	+0.044%	$760K	$401K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04590	−0.022%	$244K	$124K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04592	+0.022%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04590	−0.022%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04593	+0.044%	$17K	$55K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04576	−0.321%	$322K	$223K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04562	−0.631%	$21K	$2.0M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04565	−0.566%	$23K	$226K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04587	−0.087%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04580	−0.240%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04591	−0.003%	$129K	$799K	5x	as long as short
Reya MEGARUSDPERPshort	+0.0159%	1h	0.04587	−0.092%	$3	—	3x
GMX MEGA/USD [ETH-USDC]	L +0.0238% / S −0.5353%	1h	0.04588	−0.068%	$3K	—	45x	as long as short
Hyperliquid MEGA	+0.0328%	1h	0.04600	+0.190%	$7.9M	$2.6M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0752%	1h	0.04594	+0.063%	$111	$15	25x	as long as short
Lighter MEGA	+0.0864%	1h	0.04605	+0.305%	$615K	$381K	3x	as long as short
Coinbase International MEGA-PERP-INTX	+0.1296%	1h	0.04589	−0.033%	$5K	$12K	50x	as long as short