Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0519%/8h= −56.8% APRpaid last 24h −0.042%

Price spread now: MEXC against Backpack+0.153%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 MEXC

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. MEXC is 0.153% dearer against Backpack than usual: you sell high and buy low (spread +0.153% 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 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MEGA_USDC_PERP	0.04572	0.0619	pay 0.0077% / 1h	28m 19s	$18K	$46K	5x
Short	MEXC MEGA_USDT	0.04579	0.0100	get 0.0050% / 4h	2h 28m	$828K	$364K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.153%Rate

Funding earned: −$108.94
Price spread: +0.153% → 0.000%: $15.31
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$103.63
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: no order-book sample; MEXC: live order book, 32 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 MEXC live order book, 32 min ago	1.09 bp	8.2 bp −$8	73.5 bp −$735	184.7 bp −$18.5K	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 27 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	−0.0432%	1h	0.04490	−1.785%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04580	+0.174%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0065%	1h	0.04577	+0.109%	$198K	$140K	2x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04575	+0.064%	$18K	$90K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04576	+0.085%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04580	+0.184%	$4.1M	$13.5M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04580	+0.175%	$3.6M	$5.4M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04580	+0.175%	$938K	$3.1M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04550	−0.481%	$134K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04578	+0.131%	$203K	$319K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MEGA_USDTshort	+0.0100%	4h	0.04579	+0.153%	$828K	$364K	50x
KuCoin MEGAUSDTM	+0.0100%	4h	0.04580	+0.175%	$239K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04582	+0.219%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04581	+0.197%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04582	+0.225%	$323K	$226K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04569	−0.066%	$28K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04568	−0.087%	$24K	$233K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04581	+0.197%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04584	+0.262%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04582	+0.225%	$131K	$830K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04580	+0.181%	$3	—	3x	as long as short
Phoenix MEGA	+0.0173%	1h	0.04584	+0.262%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04580	+0.179%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERPlong	+0.0619%	1h	0.04572	long leg	$18K	$46K	5x
Lighter MEGA	+0.1320%	1h	0.04596	+0.525%	$649K	$329K	3x	as long as short
Hyperliquid MEGA	+0.1905%	1h	0.04592	+0.446%	$7.9M	$2.5M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2151%	1h	0.04593	+0.448%	$111	$15	25x	as long as short