Funding you earn now, next payment 23:00 UTC+0.0386%/8h= +42.2% APRpaid last 24h +0.039%
Price spread now: Backpack against Bybit+0.067%45s7-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—needs both histories
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.067% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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 | Bybit MEGAUSDT | 0.04500 | 0.0100 | pay 0.0050% / 4h | 1h 03m | $3.5M | $4.9M | 20x |
| Short | Backpack MEGA_USDC_PERP | 0.04503 | 0.0486 | get 0.0061% / 1h | 3m 15s | $18K | $41K | 5x |
Bybit MEGAUSDT
Backpack MEGA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $80.97
- Price spread: +0.067% → 0.000%
- $6.67
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $66.63
- Costs to cover
- 0.210%
- Break-even
- 1.2 days
Slippage unknown: Bybit: live order book, 10 min ago; Backpack: 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 Bybit live order book, 10 min ago | 2.23 bp | 27.3 bp −$27 | 283.2 bp −$2,832 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 | −0.213% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04500 | +0.004% | $12K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0059% | 1h | 0.04499 | −0.011% | $194K | $136K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0060% | 4h | 0.04474 | −0.578% | $194K | $76K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0099% | 4h | 0.04500 | 0.000% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04502 | +0.046% | $18K | $82K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04499 | −0.016% | $14K | $8K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04503 | +0.067% | $3.9M | $12.9M | 50x | as long as short |
| Bybit MEGAUSDTlong | +0.0100% | 4h | 0.04500 | long leg | $3.5M | $4.9M | 20x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04500 | 0.000% | $914K | $2.9M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance 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 | 0.04484 | −0.365% | $132K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04499 | −0.022% | $193K | $311K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04503 | +0.067% | $773K | $353K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04506 | +0.133% | $237K | $113K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04501 | +0.022% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04501 | +0.022% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04480 | −0.436% | $225K | $133K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04496 | −0.089% | $27K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04483 | −0.378% | $25K | $230K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04503 | +0.067% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04502 | +0.047% | $128K | $613K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04502 | +0.053% | $3 | — | 3x | as long as short |
| Phoenix MEGA | +0.0179% | 1h | 0.04492 | −0.178% | $20K | $7K | 5x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04500 | 0.000% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERPshort | +0.0486% | 1h | 0.04503 | +0.067% | $18K | $41K | 5x | |
| Hyperliquid MEGA | +0.1180% | 1h | 0.04512 | +0.262% | $7.7M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1461% | 1h | 0.04509 | +0.196% | $109 | $15 | 25x | as long as short |
| Lighter MEGA | +0.2392% | 1h | 0.04519 | +0.422% | $635K | $323K | 3x | 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
SunX MEGA-USDT
Extended MEGA-USD
Reya MEGARUSDPERP
Phoenix MEGA
GMX MEGA/USD [ETH-USDC]
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA