Funding you earn now, next payment 05:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.050%
Price spread now: Binance against Backpack−0.159%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.159% cheaper against Backpack than usual: you would sell low and buy high, −$16 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MEGA_USDC_PERP | 0.04572 | 0.0109 | pay 0.0014% / 1h | 12m 36s | $18K | $53K | 5x |
| Short | Binance MEGAUSDT | 0.04565 | 0.0100 | get 0.0050% / 4h | 3h 12m | $4.0M | $13.7M | 50x |
Backpack MEGA_USDC_PERP
Binance MEGAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. 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
- −$1.92
- Price spread: −0.159% → 0.000%
- −$15.95
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$37.87
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Binance: live order book, 13 min ago. 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 13 min ago | 1.09 bp | 29.2 bp −$29 | 97.4 bp −$974 | doesn't fit | doesn't fit |
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 | −0.0680% | 1h | 0.04589 | +0.383% | $5K | $12K | 50x | as long as short |
| Phoenix MEGA | 0.0000% | 1h | 0.04571 | −0.022% | $21K | $7K | 5x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04570 | −0.049% | $1K | — | 150x | as long as short |
| Bybit MEGAUSDT | +0.0078% | 4h | 0.04564 | −0.175% | $3.5M | $5.8M | 20x | as long as short |
| Nado MEGA-PERP | +0.0084% | 1h | 0.04569 | −0.066% | $197K | $143K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04567 | −0.117% | $19K | $91K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04568 | −0.081% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDTshort | +0.0100% | 4h | 0.04565 | −0.159% | $4.0M | $13.7M | 50x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04562 | −0.219% | $932K | $3.2M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04571 | −0.019% | $135K | $111 | 10x | as long as short |
Coinbase International MEGA-PERP-INTX
Phoenix MEGA
gTrade (Gains Network) MEGA/USD
Bybit MEGAUSDT
Nado MEGA-PERP
Aster MEGAUSDT
Pacifica MEGA
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 | 0.04567 | −0.109% | $203K | $327K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04566 | −0.131% | $800K | $376K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04567 | −0.109% | $232K | $119K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04565 | −0.153% | $1.0M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04562 | −0.219% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04572 | +0.004% | $323K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04577 | +0.113% | $25K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04575 | +0.066% | $24K | $230K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04568 | −0.087% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04568 | −0.087% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04563 | −0.203% | $129K | $603K | 5x | as long as short |
| Backpack MEGA_USDC_PERPlong | +0.0109% | 1h | 0.04572 | long leg | $18K | $53K | 5x | |
| BloFin MEGA-USDT | +0.0134% | 4h | 0.04572 | 0.000% | $202K | $94K | 50x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04571 | −0.016% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04571 | −0.024% | $3K | — | 45x | as long as short |
| Hyperliquid MEGA | +0.0396% | 1h | 0.04576 | +0.087% | $7.9M | $2.6M | 3x | as long as short |
| Lighter MEGA | +0.0960% | 1h | 0.04589 | +0.372% | $649K | $344K | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1194% | 1h | 0.04576 | +0.081% | $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
BloFin MEGA-USDT
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Hyperliquid MEGA
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL