Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0540%/8h= −59.2% APRpaid last 24h −0.035%

Price spread now: Bitget against Backpack+0.155%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Bitget

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

The price spread pays, funding is against you. Bitget is 0.155% dearer against Backpack than usual: you sell high and buy low (spread +0.155% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MEGA_USDC_PERP	0.04518	0.0640	pay 0.0080% / 1h	33m 30s	$18K	$41K	5x
Short	Bitget MEGAUSDT	0.04525	0.0100	get 0.0050% / 4h	33m 30s	$1.1M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Backpack. 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 BackpackbpFee BitgetbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$113.5
Price spread: +0.155% → 0.000%: $15.49
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$120
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Bitget: live order book, 3 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 Backpack no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	5.55 bp	25.3 bp −$25	104.1 bp −$1,041	doesn't fit	doesn't fit

Backpack: 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	0.04522	+0.095%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0094%	1h	0.04526	+0.188%	$195K	$135K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04511	−0.155%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04518	−0.005%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04523	+0.102%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04525	+0.155%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04521	+0.066%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04520	+0.044%	$921K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04505	−0.288%	$133K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04520	+0.044%	$193K	$309K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDT	+0.0100%	4h	0.04525	+0.155%	$769K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04524	+0.133%	$238K	$114K	50x	as long as short
Bitget MEGAUSDTshort	+0.0100%	4h	0.04525	+0.155%	$1.1M	$1.4M	50x
BingX MEGA-USDT	+0.0100%	4h	0.04522	+0.089%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04497	−0.454%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04504	−0.313%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04506	−0.266%	$25K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04512	−0.133%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04521	+0.071%	$128K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0124%	4h	0.04504	−0.310%	$195K	$77K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04525	+0.154%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04509	−0.206%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.611%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04504	−0.310%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERPlong	+0.0640%	1h	0.04518	long leg	$18K	$41K	5x
Hyperliquid MEGA	+0.1168%	1h	0.04535	+0.372%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1369%	1h	0.04517	−0.027%	$109	$15	25x	as long as short
Lighter MEGA	+0.1552%	1h	0.04542	+0.531%	$639K	$319K	3x	as long as short