Funding you earn now, next payment 23:00 UTC+0.1186%/8h= +129.9% APRnext payment +$1.48 per $10,000 · paid last 24h +0.111%
Price spread now: Lighter against Backpack+0.380%7-day average — · you sell dearer than you buy
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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$36 a day on $10k at the current rate, and Lighter is 0.380% dearer against Backpack than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MEGA_USDC_PERP | 0.04473 | 0.0590 | pay 0.0074% / 1h | 57m 53s | $18K | $41K | 5x |
| Short | Lighter MEGA | 0.04490 | 0.1776 | get 0.0222% / 1h | 57m 53s | $621K | $310K | 3x |
Backpack MEGA_USDC_PERP
Lighter MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $249.05
- Price spread: +0.380% → 0.000%
- $38.01
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $277.06
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: no order-book sample; Lighter: live order book, 18 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 Lighter live order book, 18 min ago | 28.79 bp | 65.4 bp −$65 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MEGA-PERP-INTX | −0.0144% | 1h | 0.04490 | +0.389% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04468 | −0.116% | $12K | — | 150x | as long as short |
| Phoenix MEGA | 0.0000% | 1h | 0.04474 | +0.022% | $20K | $6K | 5x | as long as short |
| Nado MEGA-PERP | +0.0022% | 1h | 0.04470 | −0.056% | $193K | $150K | 2x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0098% | 4h | 0.04469 | −0.089% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04469 | −0.097% | $20K | $80K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04473 | −0.002% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04469 | −0.089% | $4.0M | $12.7M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04466 | −0.156% | $3.4M | $4.9M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04470 | −0.067% | $915K | $2.9M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Phoenix MEGA
Nado MEGA-PERP
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDT
OKX MEGA-USDT-SWAPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk MEGA-USD | +0.0100% | 1h | 0.04471 | −0.037% | $132K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04468 | −0.112% | $191K | $309K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04469 | −0.089% | $764K | $345K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04472 | −0.022% | $236K | $112K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04468 | −0.112% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04468 | −0.112% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04472 | −0.015% | $238K | $109K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04476 | +0.064% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04475 | +0.045% | $24K | $230K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04469 | −0.089% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04469 | −0.093% | $127K | $613K | 5x | as long as short |
| BloFin MEGA-USDT | +0.0128% | 4h | 0.04480 | +0.156% | $197K | $76K | 50x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04470 | −0.063% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04468 | −0.112% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERPlong | +0.0590% | 1h | 0.04473 | long leg | $18K | $41K | 5x | |
| Deribit MEGA_USDC-PERPETUAL | +0.1115% | 1h | 0.04476 | +0.056% | $108 | $15 | 25x | as long as short |
| Hyperliquid MEGA | +0.1444% | 1h | 0.04482 | +0.197% | $7.6M | $2.4M | 3x | as long as short |
| Lighter MEGAshort | +0.1776% | 1h | 0.04490 | +0.380% | $621K | $310K | 3x |
Bulk MEGA-USD
Gate MEGA_USDT
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
SunX MEGA-USDT
Extended MEGA-USD
BloFin MEGA-USDT
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Deribit MEGA_USDC-PERPETUAL
Hyperliquid MEGA