Funding you earn now, next payment 02:00 UTC+0.0075%/8h= +8.3% APRpaid last 24h +0.017%
Price spread now: Phoenix against Bybit+0.353%105s7-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 +$2 a day on $10k at the current rate, and Phoenix is 0.353% dearer against Bybit than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 105 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 | 0.04528 | 0.0100 | pay 0.0050% / 4h | 1h 45m | $3.5M | $5.5M | 20x |
| Short | Phoenix MEGA | 0.04544 | 0.0175 | get 0.0022% / 1h | 45m 36s | $21K | $7K | 5x |
Bybit MEGAUSDT
Phoenix MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $15.83
- Price spread: +0.353% → 0.000%
- $35.34
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $33.17
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 2 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 Bybit live order book, 2 min ago | 2.21 bp | 32.9 bp −$33 | 164.1 bp −$1,641 | 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 | −0.0800% | 1h | 0.04490 | −0.830% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04533 | +0.110% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0065% | 1h | 0.04530 | +0.033% | $196K | $141K | 2x | as long as short |
| Hyperliquid MEGA | +0.0100% | 1h | 0.04531 | +0.075% | $7.8M | $2.6M | 3x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04526 | −0.037% | $18K | $90K | 5x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04527 | −0.017% | $4.0M | $13.6M | 50x | as long as short |
| Bybit MEGAUSDTlong | +0.0100% | 4h | 0.04528 | long leg | $3.5M | $5.5M | 20x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04528 | 0.000% | $929K | $3.1M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04530 | +0.046% | $134K | $4K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04524 | −0.088% | $200K | $317K | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
Hyperliquid MEGA
Aster MEGAUSDT
Binance MEGAUSDT
OKX MEGA-USDT-SWAP
Bulk MEGA-USD
Gate MEGA_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04526 | −0.044% | $802K | $364K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04525 | −0.066% | $226K | $117K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04533 | +0.110% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04532 | +0.088% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERP | +0.0100% | 1h | 0.04533 | +0.110% | $18K | $46K | 5x | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04530 | +0.049% | $320K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04548 | +0.439% | $30K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04534 | +0.133% | $24K | $230K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04533 | +0.110% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04532 | +0.088% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04532 | +0.085% | $128K | $830K | 5x | as long as short |
| BloFin MEGA-USDT | +0.0138% | 4h | 0.04537 | +0.199% | — | $91K | 50x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04531 | +0.072% | $3 | — | 3x | as long as short |
| Phoenix MEGAshort | +0.0175% | 1h | 0.04544 | +0.353% | $21K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04533 | +0.102% | $3K | — | 45x | as long as short |
| Pacifica MEGA | +0.0245% | 1h | 0.04527 | −0.024% | $14K | $9K | 3x | as long as short |
| Lighter MEGA | +0.0576% | 1h | 0.04549 | +0.464% | $644K | $330K | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1846% | 1h | 0.04543 | +0.322% | $110 | $15 | 25x | as long as short |
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Backpack MEGA_USDC_PERP
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
Orderly PERP_MEGA_USDC
SunX MEGA-USDT
Extended MEGA-USD
BloFin MEGA-USDT
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Pacifica MEGA
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL