Funding you earn now, next payment 03:00 UTC−0.0062%/8h= −6.7% APRnext payment −$0.08 per $10,000 · paid last 24h −0.024%
Price spread now: Phoenix against GMX+0.231%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 0.231% dearer against GMX than usual: you sell high and buy low (spread +0.231% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MEGA/USD [ETH-USDC] | 0.04586 | L +0.0238% / S −0.5353% | pay 0.0030% / 1h | 4m 37s | $3K | — | 45x |
| Short | Phoenix MEGA | 0.04597 | 0.0176 | get 0.0022% / 1h | 4m 37s | $21K | $7K | 5x |
GMX MEGA/USD [ETH-USDC]
Phoenix MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GMX. 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
- −$12.92
- Price spread: +0.231% → 0.000%
- $23.11
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$8.8
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
GMX and 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 | −0.0744% | 1h | 0.04589 | +0.068% | $5K | $13K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04587 | +0.008% | $1K | — | 150x | as long as short |
| BloFin MEGA-USDT | +0.0070% | 4h | 0.04586 | −0.009% | $203K | $95K | 50x | as long as short |
| Nado MEGA-PERP | +0.0078% | 1h | 0.04584 | −0.041% | $198K | $144K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04583 | −0.068% | $19K | $90K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04587 | +0.011% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04588 | +0.035% | $4.1M | $13.7M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04585 | −0.031% | $3.5M | $5.7M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04586 | −0.009% | $938K | $3.2M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04590 | +0.078% | $136K | $111 | 10x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
BloFin MEGA-USDT
Nado MEGA-PERP
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDT
OKX MEGA-USDT-SWAP
Bulk MEGA-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MEGA_USDT | +0.0100% | 4h | 0.04588 | +0.035% | $200K | $323K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04589 | +0.057% | $806K | $377K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04588 | +0.035% | $234K | $118K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04589 | +0.057% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04587 | +0.013% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04590 | +0.072% | $324K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04603 | +0.363% | $26K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04602 | +0.340% | $24K | $230K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04585 | −0.031% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04585 | −0.031% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04587 | +0.006% | $129K | $821K | 5x | as long as short |
| Hyperliquid MEGA | +0.0149% | 1h | 0.04591 | +0.100% | $7.9M | $2.6M | 3x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04584 | −0.058% | $3 | — | 3x | as long as short |
| Phoenix MEGAshort | +0.0176% | 1h | 0.04597 | +0.231% | $21K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC]long | L +0.0238% / S −0.5353% | 1h | 0.04586 | long leg | $3K | — | 45x | |
| Backpack MEGA_USDC_PERP | +0.0433% | 1h | 0.04589 | +0.057% | $18K | $53K | 5x | as long as short |
| Lighter MEGA | +0.0608% | 1h | 0.04610 | +0.515% | $652K | $342K | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.0775% | 1h | 0.04591 | +0.105% | $111 | $15 | 25x | as long as short |
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
Hyperliquid MEGA
Reya MEGARUSDPERP
Backpack MEGA_USDC_PERP
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL