Funding you earn now, next payment 00:00 UTC+0.2593%/8h= +284.0% APRnext payment +$3.24 per $10,000 · paid last 24h +0.294%
Price spread now: Deribit against Phoenix−0.168%70s7-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
Funding pays, the price is against you. Deribit is 0.168% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.168% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5 hours of funding at the current rate (+$78 a day). The two prices were read 70 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 | Phoenix MEGA | 0.04522 | 0 | get 0.0000% / 1h | 43m 51s | $21K | $7K | 5x |
| Short | Deribit MEGA_USDC-PERPETUAL | 0.04514 | 0.2593 | get 0.0324% / 1h | 43m 51s | $109 | $15 | 25x |
Phoenix MEGA
Deribit MEGA_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. 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
- $544.62
- Price spread: −0.168% → 0.000%
- −$16.81
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $513.81
- Costs to cover
- 0.140%
- Break-even
- 0.4 days
Slippage unknown: Phoenix: no order-book sample; Deribit: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
Phoenix and Deribit: 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 | −0.0048% | 1h | 0.04490 | −0.699% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04499 | −0.504% | $12K | — | 150x | as long as short |
| Phoenix MEGAlong | 0.0000% | 1h | 0.04522 | long leg | $21K | $7K | 5x | |
| Nado MEGA-PERP | +0.0077% | 1h | 0.04504 | −0.398% | $196K | $136K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04506 | −0.345% | $20K | $86K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04506 | −0.349% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04515 | −0.151% | $3.9M | $13.1M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04518 | −0.088% | $3.5M | $5.2M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04516 | −0.133% | $919K | $3.0M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04510 | −0.265% | $133K | $4K | 10x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
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 | 0.04505 | −0.376% | $197K | $312K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04516 | −0.133% | $837K | $359K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04513 | −0.199% | $237K | $115K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04512 | −0.221% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04516 | −0.133% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERP | +0.0100% | 1h | 0.04504 | −0.398% | $18K | $41K | 5x | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04503 | −0.425% | $317K | $227K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04508 | −0.302% | $28K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04503 | −0.420% | $25K | $231K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04500 | −0.487% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04504 | −0.398% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04512 | −0.220% | $126K | $739K | 5x | as long as short |
| BloFin MEGA-USDT | +0.0153% | 4h | 0.04503 | −0.420% | $196K | $76K | 50x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04499 | −0.502% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04499 | −0.500% | $3K | — | 45x | as long as short |
| Lighter MEGA | +0.0784% | 1h | 0.04523 | +0.022% | $636K | $320K | 3x | as long as short |
| Hyperliquid MEGA | +0.0913% | 1h | 0.04514 | −0.186% | $7.7M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUALshort | +0.2593% | 1h | 0.04514 | −0.168% | $109 | $15 | 25x |
Gate MEGA_USDT
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]
Lighter MEGA
Hyperliquid MEGA