MEGA funding rate arbitrage
MEGA perpetual futures are listed on 9 of the 10 exchanges tracked by NDA-Trade. The widest current funding spread is between Nado and Binance: going long on Nado and short on Binance collects roughly 20.6% annualized at current rates.
| Exchange | Funding rate | Mid price | Leg |
|---|---|---|---|
| Nado | -0.00001% | 0.035635 | Long leg — lowest funding |
| Hyperliquid | +0.00001% | 0.035606 | — |
| Lighter | +0.00001% | 0.03561 | — |
| Aster | +0.00001% | 0.03562 | — |
| Extended | +0.00001% | 0.035555 | — |
| Binance | +0.00005% | 0.03562 | — |
| Bybit | +0.00005% | 0.03561 | — |
| KuCoin | +0.00005% | 0.035645 | — |
| OKX | +0.00005% | 0.035625 | Short leg — highest funding |
Last updated 2026-08-11 10:16 UTC · rates are per settlement interval, which differs by venue. See all markets in the coverage matrix.
How the MEGA funding trade works
Every exchange sets its own funding rate for MEGA perpetual futures, derived from its own premium to the index and its own order flow. Those rates drift apart, and the gap is what a delta-neutral position collects: long MEGA on Nado, where funding is currently lowest, and short the same size on Binance, where it is highest. Because the legs are equal and opposite, the MEGA price itself no longer matters — only the funding difference does.
That is the gross figure. Both legs cross the cross-exchange spread on entry and again on exit, plus fees on all four fills. At the current entry and exit spreads shown above, the position has to hold long enough for accrued funding to cover that round trip before it earns anything. A high annualized number on a spread that decays within hours frequently loses money.
The risks are the ones every two-legged trade carries: the spread can compress or flip sign, either leg can be liquidated in a sharp move if margin is thin, and each venue carries its own counterparty risk. See the risk guide before sizing anything, and the strategy guide for the full mechanic.
This page shows current MEGA rates. The dashboard adds the history behind them: per-venue funding charts, realized 1-day and 7-day yields, spread percentiles over rolling windows, stability scoring, and alerts when a MEGA spread crosses your threshold.
Request accessMEGA funding questions
Which exchanges list MEGA perpetual futures?
MEGA perps are currently quoted on Nado, Hyperliquid, Lighter, Aster, Extended, Binance, Bybit, KuCoin, OKX.
What is the current MEGA funding rate?
Nado: -0.00001% per interval. Hyperliquid: +0.00001% per interval. Lighter: +0.00001% per interval. Aster: +0.00001% per interval. Extended: +0.00001% per interval. Binance: +0.00005% per interval. Bybit: +0.00005% per interval. KuCoin: +0.00005% per interval. OKX: +0.00005% per interval.
How do you arbitrage MEGA funding rates?
Open a long position on the venue paying the lowest funding and an equal short on the venue paying the highest, so price moves cancel out and the funding difference accrues. For MEGA that is currently long Nado against short Binance. Both legs pay the cross-exchange spread on entry and exit, which has to be earned back before the position is profitable.