MEGA arbitrage explained
Right now MegaETH (MEGA) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.0446 and the highest bid on Binance spot at $0.0447.
The widest MEGA perpetual spread is between Variational and Bybit: long MEGA on Variational at $0.0446 and short on Bybit at $0.0447 for +0.20% gross, or +0.04% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best MEGA route is to buy spot on Gate and short the perpetual on Bybit: -0.07% gross, -0.27% net, with +0.030% a day of funding on the short leg.
Spot–spot MEGA arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows 0.00% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small MEGA gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: MEGA funding rates · MEGA spread charts · MegaETH price · arbitrage scanner for all coins.