Funding arb · Price arb /

MEGA

all MEGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h +0.006%

Price spread now: Phoenix against BloFin+0.134%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. Phoenix is 0.134% dearer against BloFin than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MEGA-USDT	0.04491	0.0155	pay 0.0077% / 4h	2h 15m	$197K	$77K	50x
Short	Phoenix MEGA	0.04497	0	get 0.0000% / 1h	15m 56s	$21K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$32.54
Price spread: +0.134% → 0.000%: $13.36
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.18
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 66 min ago; Phoenix: 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 BloFin live order book, 66 min ago	3.36 bp	17.1 bp −$17	55.8 bp −$558	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0288%	1h	0.04490	−0.013%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04479	−0.268%	$12K	—	150x	as long as short
Phoenix MEGAshort	0.0000%	1h	0.04497	+0.134%	$21K	$7K	5x
Nado MEGA-PERP	+0.0050%	1h	0.04480	−0.245%	$193K	$150K	2x	as long as short
Orderly PERP_MEGA_USDC	+0.0098%	4h	0.04479	−0.267%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04480	−0.250%	$20K	$80K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04483	−0.176%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04480	−0.246%	$4.0M	$12.7M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04477	−0.312%	$3.4M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04478	−0.289%	$918K	$2.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk MEGA-USD	+0.0100%	1h	0.04500	+0.190%	$133K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04479	−0.267%	$191K	$311K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04479	−0.267%	$772K	$356K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04483	−0.178%	$236K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04480	−0.245%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04477	−0.312%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04493	+0.050%	$239K	$109K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04494	+0.059%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04493	+0.045%	$25K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04480	−0.245%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04479	−0.257%	$127K	$613K	5x	as long as short
BloFin MEGA-USDTlong	+0.0155%	4h	0.04491	long leg	$197K	$77K	50x
Reya MEGARUSDPERP	+0.0159%	1h	0.04480	−0.250%	$3	—	3x	as long as short
Backpack MEGA_USDC_PERP	+0.0198%	1h	0.04482	−0.200%	$18K	$41K	5x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04478	−0.285%	$3K	—	45x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0866%	1h	0.04485	−0.131%	$109	$15	25x	as long as short
Hyperliquid MEGA	+0.1205%	1h	0.04492	+0.018%	$7.6M	$2.4M	3x	as long as short
Lighter MEGA	+0.2792%	1h	0.04500	+0.200%	$622K	$327K	3x	as long as short