Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.050%
Price spread now: OKX against Backpack−0.152%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 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 −$1 a day on $10k at the current rate, and OKX is 0.152% cheaper against Backpack than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MEGA_USDC_PERP | 0.04596 | 0.0133 | pay 0.0017% / 1h | 33m 53s | $19K | $53K | 5x |
| Short | OKX MEGA-USDT-SWAP | 0.04589 | 0.0100 | get 0.0050% / 4h | 3h 33m | $936K | $3.2M | 20x |
Backpack MEGA_USDC_PERP
OKX MEGA-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$6.99
- Price spread: −0.152% → 0.000%
- −$15.23
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$42.22
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago | 2.17 bp | 32.6 bp −$33 | 143.2 bp −$1,432 | 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 | −0.0680% | 1h | 0.04589 | −0.141% | $5K | $12K | 50x | as long as short |
| Bybit MEGAUSDT | −0.0154% | 4h | 0.04594 | −0.044% | $3.5M | $5.8M | 20x | as long as short |
| Phoenix MEGA | 0.0000% | 1h | 0.04606 | +0.218% | $21K | $7K | 5x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04593 | −0.074% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0077% | 1h | 0.04594 | −0.033% | $198K | $144K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0088% | 4h | 0.04595 | −0.022% | $203K | $95K | 50x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04595 | −0.023% | $19K | $91K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04599 | +0.061% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04595 | −0.031% | $4.1M | $13.7M | 50x | as long as short |
| OKX MEGA-USDT-SWAPshort | +0.0100% | 4h | 0.04589 | −0.152% | $936K | $3.2M | 20x |
Coinbase International MEGA-PERP-INTX
Bybit MEGAUSDT
Phoenix MEGA
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk MEGA-USD | +0.0100% | 1h | 0.04595 | −0.025% | $136K | $111 | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04593 | −0.065% | $204K | $326K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04594 | −0.044% | $805K | $375K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04594 | −0.044% | $234K | $119K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04594 | −0.044% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04591 | −0.109% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04599 | +0.070% | $325K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04590 | −0.124% | $29K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04610 | +0.305% | $24K | $230K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04593 | −0.065% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04591 | −0.109% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04592 | −0.094% | $129K | $821K | 5x | as long as short |
| Backpack MEGA_USDC_PERPlong | +0.0133% | 1h | 0.04596 | long leg | $19K | $53K | 5x | |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04592 | −0.092% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0238% / S −0.5353% | 1h | 0.04593 | −0.074% | $3K | — | 45x | as long as short |
| Hyperliquid MEGA | +0.0328% | 1h | 0.04601 | +0.100% | $7.9M | $2.6M | 3x | as long as short |
| Lighter MEGA | +0.0856% | 1h | 0.04616 | +0.435% | $653K | $341K | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1013% | 1h | 0.04598 | +0.048% | $111 | $15 | 25x | as long as short |
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
Orderly PERP_MEGA_USDC
SunX MEGA-USDT
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Hyperliquid MEGA
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL