Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0312%/8h= −34.2% APRpaid last 24h −0.037%

Price spread now: BloFin against Backpack+0.200%66s7-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 BloFin

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. BloFin is 0.200% dearer against Backpack than usual: you sell high and buy low (spread +0.200% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.1 days. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MEGA_USDC_PERP	0.04509	0.0382	pay 0.0048% / 1h	5m 43s	$18K	$41K	5x
Short	BloFin MEGA-USDT	0.04518	0.0070	get 0.0035% / 4h	5m 43s	$196K	$76K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.200%Rate

Funding earned: −$65.53
Price spread: +0.200% → 0.000%: $19.96
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$67.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; BloFin: live order book, 64 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 BloFin live order book, 64 min ago	3.35 bp	15.7 bp −$16	62.3 bp −$623	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	0.04506	−0.061%	$12K	—	150x	as long as short
BloFin MEGA-USDTshort	+0.0070%	4h	0.04518	+0.200%	$196K	$76K	50x
Bybit MEGAUSDT	+0.0074%	4h	0.04503	−0.133%	$3.5M	$4.9M	20x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04510	+0.025%	$18K	$83K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04509	+0.004%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04508	−0.022%	$3.9M	$12.9M	50x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04504	−0.111%	$918K	$2.9M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04515	+0.131%	$133K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04508	−0.022%	$196K	$313K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04508	−0.022%	$768K	$355K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MEGAUSDTM	+0.0100%	4h	0.04510	+0.022%	$237K	$114K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04509	0.000%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04504	−0.111%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04501	−0.180%	$226K	$133K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04520	+0.243%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04519	+0.222%	$25K	$231K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04506	−0.067%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04505	−0.089%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04506	−0.075%	$128K	$613K	5x	as long as short
Nado MEGA-PERP	+0.0107%	1h	0.04509	+0.011%	$195K	$135K	2x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04504	−0.103%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04506	−0.064%	$3K	—	45x	as long as short
Coinbase International MEGA-PERP-INTX	+0.0296%	1h	0.04490	−0.413%	$5K	$12K	50x	as long as short
Phoenix MEGA	+0.0355%	1h	0.04507	−0.044%	$21K	$7K	5x	as long as short
Backpack MEGA_USDC_PERPlong	+0.0382%	1h	0.04509	long leg	$18K	$41K	5x
Hyperliquid MEGA	+0.0885%	1h	0.04515	+0.142%	$7.7M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0904%	1h	0.04512	+0.078%	$109	$15	25x	as long as short
Lighter MEGA	+0.1264%	1h	0.04530	+0.466%	$637K	$320K	3x	as long as short