Funding you earn now, next payment 03:00 UTC−0.0432%/8h= −47.3% APRnext payment −$0.54 per $10,000 · paid last 24h −0.223%
Price spread now: Phoenix against Lighter−0.282%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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phoenix is 0.282% cheaper against Lighter than usual: you would sell low and buy high (−$28 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 | Lighter MEGA | 0.04610 | 0.0608 | pay 0.0076% / 1h | 4m 42s | $652K | $342K | 3x |
| Short | Phoenix MEGA | 0.04597 | 0.0176 | get 0.0022% / 1h | 4m 42s | $21K | $7K | 5x |
Lighter MEGA
Phoenix MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- −$90.71
- Price spread: −0.282% → 0.000%
- −$28.2
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$125.91
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 46 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 Lighter live order book, 46 min ago | 25.00 bp | 45.6 bp −$46 | doesn't fit | 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 | −0.0744% | 1h | 0.04589 | −0.445% | $5K | $13K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04587 | −0.504% | $1K | — | 150x | as long as short |
| BloFin MEGA-USDT | +0.0070% | 4h | 0.04586 | −0.521% | $203K | $95K | 50x | as long as short |
| Nado MEGA-PERP | +0.0078% | 1h | 0.04584 | −0.553% | $198K | $144K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04583 | −0.579% | $19K | $90K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04587 | −0.501% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04588 | −0.477% | $4.1M | $13.7M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04585 | −0.542% | $3.5M | $5.7M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04586 | −0.521% | $938K | $3.2M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04590 | −0.434% | $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 | −0.477% | $200K | $323K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04589 | −0.456% | $806K | $377K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04588 | −0.477% | $234K | $118K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04589 | −0.456% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04587 | −0.499% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04590 | −0.440% | $324K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04603 | −0.151% | $26K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04602 | −0.174% | $24K | $230K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04585 | −0.542% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04585 | −0.542% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04587 | −0.506% | $129K | $821K | 5x | as long as short |
| Hyperliquid MEGA | +0.0149% | 1h | 0.04591 | −0.412% | $7.9M | $2.6M | 3x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04584 | −0.569% | $3 | — | 3x | as long as short |
| Phoenix MEGAshort | +0.0176% | 1h | 0.04597 | −0.282% | $21K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC] | L +0.0238% / S −0.5353% | 1h | 0.04586 | −0.512% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERP | +0.0433% | 1h | 0.04589 | −0.456% | $18K | $53K | 5x | as long as short |
| Lighter MEGAlong | +0.0608% | 1h | 0.04610 | long leg | $652K | $342K | 3x | |
| Deribit MEGA_USDC-PERPETUAL | +0.0775% | 1h | 0.04591 | −0.408% | $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
GMX MEGA/USD [ETH-USDC]
Backpack MEGA_USDC_PERP
Deribit MEGA_USDC-PERPETUAL