Funding you earn now, next payment 22:00 UTC−0.1301%/8h= −142.4% APRnext payment −$1.63 per $10,000 · paid last 24h −0.253%
Price spread now: Backpack against Deribit−0.108%7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$39 a day on $10k at the current rate, and Backpack is 0.108% cheaper against Deribit than usual: you would sell low and buy high (−$11 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 | Deribit MEGA_USDC-PERPETUAL | 0.04430 | 0.1401 | pay 0.0175% / 1h | 41m 55s | $107 | $15 | 25x |
| Short | Backpack MEGA_USDC_PERP | 0.04425 | 0.0100 | get 0.0013% / 1h | 41m 55s | $15K | $39K | 5x |
Deribit MEGA_USDC-PERPETUAL
Backpack MEGA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- −$273.14
- Price spread: −0.108% → 0.000%
- −$10.84
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$300.97
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Deribit and 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 | −0.0288% | 1h | 0.04400 | −0.666% | $5K | $11K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04421 | −0.207% | $12K | — | 150x | as long as short |
| Phoenix MEGA | 0.0000% | 1h | 0.04425 | −0.108% | $20K | $7K | 5x | as long as short |
| Nado MEGA-PERP | +0.0076% | 1h | 0.04424 | −0.120% | $191K | $151K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0094% | 4h | 0.04417 | −0.289% | $198K | $75K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0097% | 4h | 0.04422 | −0.176% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04423 | −0.160% | $19K | $80K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04424 | −0.120% | $14K | $10K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04417 | −0.278% | $3.9M | $12.7M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04416 | −0.312% | $3.4M | $4.9M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Phoenix MEGA
Nado MEGA-PERP
BloFin MEGA-USDT
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04422 | −0.176% | $906K | $2.8M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04450 | +0.456% | $131K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04420 | −0.221% | $188K | $310K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04417 | −0.289% | $771K | $351K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04421 | −0.199% | $228K | $112K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04423 | −0.154% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04415 | −0.334% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERPshort | +0.0100% | 1h | 0.04425 | −0.108% | $15K | $39K | 5x | |
| Variational Omni MEGA | +0.0100% | 4h | 0.04419 | −0.255% | $235K | $109K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04421 | −0.205% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04416 | −0.312% | $24K | $229K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04425 | −0.108% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04421 | −0.207% | $126K | $613K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04422 | −0.168% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0235% / S −0.5353% | 1h | 0.04419 | −0.233% | $3K | — | 45x | as long as short |
| Hyperliquid MEGA | +0.1251% | 1h | 0.04433 | +0.084% | $7.5M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUALlong | +0.1401% | 1h | 0.04430 | long leg | $107 | $15 | 25x | |
| Lighter MEGA | +0.1712% | 1h | 0.04443 | +0.298% | $597K | $299K | 3x | as long as short |
OKX MEGA-USDT-SWAP
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
GMX MEGA/USD [ETH-USDC]
Hyperliquid MEGA
Lighter MEGA