Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0576%/8h= +63.1% APRpaid last 24h +0.042%

Price spread now: Backpack against Variational Omni−0.103%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.103% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 14 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MEGA	0.04572	0.0100	pay 0.0050% / 4h	2h 08m	$322K	$226K	—
Short	Backpack MEGA_USDC_PERP	0.04567	0.0676	get 0.0085% / 1h	8m 40s	$18K	$46K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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 Variational OmnibpFee BackpackbpOrdersPrice spread, now −0.103%Rate

Funding earned: $121.02
Price spread: −0.103% → 0.000%: −$10.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $100.74
Costs to cover: 0.100%
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, 60 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 Variational Omni RFQ quote, 60 min ago	5.41 bp	doesn't fit	133.0 bp −$1,330	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 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	−1.778%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L +0.0001% / S +0.0023%	1h	0.04561	−0.234%	$1K	—	150x	as long as short
Nado MEGA-PERP	+0.0064%	1h	0.04563	−0.179%	$197K	$140K	2x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04564	−0.163%	$18K	$90K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04568	−0.072%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04569	−0.059%	$4.0M	$13.5M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04565	−0.147%	$3.6M	$5.5M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04568	−0.081%	$939K	$3.1M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04579	+0.165%	$135K	$4K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04563	−0.190%	$202K	$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_USDT	+0.0100%	4h	0.04568	−0.081%	$817K	$367K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04567	−0.103%	$238K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04571	−0.015%	$1.1M	$1.5M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04567	−0.103%	—	$1.7M	—	as long as short
Variational Omni MEGAlong	+0.0100%	4h	0.04572	long leg	$322K	$226K	—
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04586	+0.313%	$18K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04582	+0.225%	$24K	$229K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0100%	4h	0.04563	−0.190%	$3K	$2K	10x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04565	−0.147%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04568	−0.084%	$131K	$829K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04562	−0.207%	$3	—	3x	as long as short
Phoenix MEGA	+0.0173%	1h	0.04588	+0.357%	$21K	$7K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0237% / S −0.5353%	1h	0.04561	−0.243%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERPshort	+0.0676%	1h	0.04567	−0.103%	$18K	$46K	5x
Lighter MEGA	+0.1272%	1h	0.04588	+0.357%	$648K	$330K	3x	as long as short
Hyperliquid MEGA	+0.1807%	1h	0.04576	+0.090%	$7.9M	$2.5M	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.2051%	1h	0.04573	+0.033%	$111	$15	25x	as long as short