Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.009%

Price spread now: Nado against Variational Omni−0.004%7-day average +0.019% · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.061%−$6 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.004%, 7d avg +0.019%

Together, before fees−0.024%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.023% cheaper against Variational Omni than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MEGA	0.04533	0.0100	pay 0.0050% / 4h	2h 00m	$319K	$226K	—
Short	Nado MEGA-PERP	0.04532	0.0059	get 0.0007% / 1h	0m 44s	$195K	$142K	2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee NadobpOrdersPrice spread, now −0.004%Rate

Funding earned: −$8.64
Price spread: −0.004% → +0.019%: −$2.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$17.9
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 48 min ago; Nado: live order book, 47 min ago. 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 Variational Omni RFQ quote, 48 min ago	5.53 bp	doesn't fit	189.1 bp −$1,891	doesn't fit	doesn't fit
Sell Nado live order book, 47 min ago	2.21 bp	19.3 bp −$19	103.8 bp −$1,038	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	−0.0048%	1h	0.04589	+1.254%	$5K	$12K	50x	as long as short
Bybit MEGAUSDT	−0.0020%	4h	0.04533	+0.007%	$3.4M	$5.9M	20x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04534	+0.020%	$1K	—	150x	as long as short
Nado MEGA-PERPshort	+0.0059%	1h	0.04532	−0.004%	$195K	$142K	2x
BloFin MEGA-USDT	+0.0078%	4h	0.04537	+0.096%	$200K	$94K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04534	+0.031%	$20K	$96K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04535	+0.041%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04534	+0.030%	$4.0M	$13.8M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04530	−0.059%	$917K	$3.2M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04535	+0.052%	$134K	$111	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	0.04534	+0.030%	$205K	$334K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04533	+0.007%	$795K	$410K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04534	+0.030%	$227K	$120K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04534	+0.030%	$1.0M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04535	+0.052%	—	$1.7M	—	as long as short
Variational Omni MEGAlong	+0.0100%	4h	0.04533	long leg	$319K	$226K	—
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04540	+0.156%	$30K	$1.9M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04536	+0.074%	$23K	$228K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04535	+0.052%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04533	+0.007%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04532	−0.012%	$127K	$410K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04534	+0.024%	$3	—	3x	as long as short
Phoenix MEGA	+0.0177%	1h	0.04540	+0.162%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04533	+0.003%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0281%	1h	0.04538	+0.118%	$18K	$56K	5x	as long as short
Hyperliquid MEGA	+0.0352%	1h	0.04542	+0.210%	$7.8M	$2.6M	3x	as long as short
Lighter MEGA	+0.0384%	1h	0.04554	+0.471%	$616K	$374K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1073%	1h	0.04541	+0.191%	$110	$15	25x	as long as short