Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.006%

Price spread now: BingX against Nado−0.065%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1041.044% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.065%, 7d avg −0.037%

Together, before fees−0.025%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.027% cheaper against Nado than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.037%). If the spread goes back, that is −$3 on $10k: about 35 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MEGA-PERP	0.04626	0.0038	pay 0.0005% / 1h	9m 20s	$200K	$136K	2x
Short	BingX MEGA-USDT	0.04623	0.0100	get 0.0050% / 4h	3h 09m	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Nado. 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 NadobpFee BingXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $13.03
Price spread: −0.065% → −0.037%: −$2.74
Slippage, 4 orders: −$87.4
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$94.11
Costs to cover: 1.044%
Break-even: 57.6 days

Slippage from Nado: live order book, 63 min ago; BingX: live order book, 8 min ago.

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 Nado live order book, 63 min ago	2.22 bp	20.5 bp −$21	107.4 bp −$1,074	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	16.36 bp	29.0 bp −$29	94.1 bp −$941	765.2 bp −$76.5K	1264.6 bp −$632.3K

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	0.04490	−2.931%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04624	−0.044%	$13K	—	150x	as long as short
Phoenix MEGA	0.0000%	1h	0.04610	−0.346%	$21K	$7K	5x	as long as short
Nado MEGA-PERPlong	+0.0038%	1h	0.04626	long leg	$200K	$136K	2x
BloFin MEGA-USDT	+0.0089%	4h	0.04644	+0.389%	$201K	$90K	50x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04624	−0.037%	$20K	$87K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04628	+0.039%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04624	−0.043%	$4.1M	$13.3M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04621	−0.108%	$3.6M	$5.3M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04618	−0.173%	$944K	$3.1M	20x	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	0.04621	−0.108%	$202K	$315K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04626	0.000%	$862K	$362K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04625	−0.022%	$243K	$116K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04624	−0.043%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDTshort	+0.0100%	4h	0.04623	−0.065%	—	$1.7M	—
Variational Omni MEGA	+0.0100%	4h	0.04606	−0.438%	$325K	$227K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04601	−0.539%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04608	−0.389%	$25K	$231K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04623	−0.065%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04626	0.000%	$2K	$1.9M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04565	−1.319%	$135K	$4K	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04624	−0.045%	$130K	$822K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04625	−0.026%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04623	−0.071%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0360%	1h	0.04627	+0.022%	$19K	$41K	5x	as long as short
Lighter MEGA	+0.0960%	1h	0.04644	+0.389%	$653K	$325K	3x	as long as short
Hyperliquid MEGA	+0.1177%	1h	0.04637	+0.236%	$7.9M	$2.4M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2259%	1h	0.04635	+0.197%	$112	$15	25x	as long as short