Funding you earn now, next payment 00:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.037%
Price spread now: BloFin against Backpack−0.111%54s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and BloFin is 0.111% cheaper against Backpack than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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 | 0.0678 | pay 0.0085% / 1h | 37m 14s | $18K | $41K | 5x |
| Short | BloFin MEGA-USDT | 0.04504 | 0.0138 | get 0.0069% / 4h | 37m 14s | $195K | $77K | 50x |
Backpack MEGA_USDC_PERP
BloFin MEGA-USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$113.3
- Price spread: −0.111% → 0.000%
- −$11.09
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$146.39
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; BloFin: live order book, 33 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, 33 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 | 0.04504 | −0.111% | $12K | — | 150x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04506 | −0.067% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04504 | −0.104% | $18K | $83K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04507 | −0.044% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04504 | −0.111% | $3.9M | $12.8M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04500 | −0.200% | $3.5M | $4.9M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04500 | −0.200% | $917K | $2.9M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04505 | −0.089% | $133K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04504 | −0.111% | $193K | $309K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04503 | −0.133% | $769K | $350K | 50x | as long as short |
gTrade (Gains Network) MEGA/USD
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDT
OKX MEGA-USDT-SWAP
Bulk MEGA-USD
Gate MEGA_USDT
MEXC MEGA_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04503 | −0.133% | $237K | $114K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04505 | −0.089% | $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 | 0.04503 | −0.134% | $226K | $133K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04507 | −0.039% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04499 | −0.222% | $25K | $231K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04508 | −0.022% | $1K | $1.9M | 10x | as long as short |
| Nado MEGA-PERP | +0.0102% | 1h | 0.04505 | −0.078% | $195K | $135K | 2x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04505 | −0.095% | $128K | $613K | 5x | as long as short |
| BloFin MEGA-USDTshort | +0.0138% | 4h | 0.04504 | −0.111% | $195K | $77K | 50x | |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04506 | −0.067% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04504 | −0.120% | $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 | 0.04508 | −0.022% | $21K | $7K | 5x | as long as short |
| Backpack MEGA_USDC_PERPlong | +0.0678% | 1h | 0.04509 | long leg | $18K | $41K | 5x | |
| Hyperliquid MEGA | +0.1091% | 1h | 0.04518 | +0.195% | $7.7M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1371% | 1h | 0.04511 | +0.038% | $109 | $15 | 25x | as long as short |
| Lighter MEGA | +0.1544% | 1h | 0.04524 | +0.333% | $636K | $319K | 3x | as long as short |
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
SunX MEGA-USDT
Nado MEGA-PERP
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Coinbase International MEGA-PERP-INTX
Phoenix MEGA
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA