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: Backpack against Bitget−0.155%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Backpack

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. Backpack is 0.155% cheaper against Bitget than usual: you would sell low and buy high (spread −0.155% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 23 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MEGAUSDT	0.04525	0.0100	pay 0.0050% / 4h	33m 29s	$1.1M	$1.4M	50x
Short	Backpack MEGA_USDC_PERP	0.04518	0.0640	get 0.0080% / 1h	33m 29s	$18K	$41K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.155%Rate

Funding earned: $113.5
Price spread: −0.155% → 0.000%: −$15.47
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $76.03
Costs to cover: 0.220%
Break-even: 2.3 days

Slippage unknown: Bitget: live order book, 3 min ago; Backpack: 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 Bitget live order book, 3 min ago	5.55 bp	24.0 bp −$24	98.8 bp −$988	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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	−0.060%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0094%	1h	0.04526	+0.033%	$195K	$135K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04511	−0.309%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04518	−0.160%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04523	−0.053%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04525	0.000%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04521	−0.088%	$3.5M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04520	−0.110%	$921K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04505	−0.442%	$133K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04520	−0.110%	$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	0.000%	$769K	$350K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04524	−0.022%	$238K	$114K	50x	as long as short
Bitget MEGAUSDTlong	+0.0100%	4h	0.04525	long leg	$1.1M	$1.4M	50x
BingX MEGA-USDT	+0.0100%	4h	0.04522	−0.066%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04497	−0.608%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04504	−0.467%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04506	−0.420%	$25K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04512	−0.287%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04521	−0.084%	$128K	$613K	5x	as long as short
BloFin MEGA-USDT	+0.0124%	4h	0.04504	−0.464%	$195K	$77K	50x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04525	−0.001%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04509	−0.360%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.765%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04504	−0.464%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERPshort	+0.0640%	1h	0.04518	−0.155%	$18K	$41K	5x
Hyperliquid MEGA	+0.1168%	1h	0.04535	+0.217%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1369%	1h	0.04517	−0.181%	$109	$15	25x	as long as short
Lighter MEGA	+0.1552%	1h	0.04542	+0.376%	$639K	$319K	3x	as long as short