Funding you earn now, next payment 02:00 UTC−0.0583%/8h= −63.8% APRpaid last 24h −0.051%
Price spread now: Bybit against Backpack−0.087%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 −$17 a day on $10k at the current rate, and Bybit is 0.087% cheaper against Backpack than usual: you would sell low and buy high (−$9 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 | Backpack MEGA_USDC_PERP | 0.04586 | 0.0683 | pay 0.0085% / 1h | 6m 54s | $18K | $46K | 5x |
| Short | Bybit MEGAUSDT | 0.04582 | 0.0100 | get 0.0050% / 4h | 2h 06m | $3.6M | $5.5M | 20x |
Backpack MEGA_USDC_PERP
Bybit MEGAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$122.45
- Price spread: −0.087% → 0.000%
- −$8.72
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$152.17
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago | 2.19 bp | 32.0 bp −$32 | 138.2 bp −$1,382 | 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 27 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 | −0.0432% | 1h | 0.04490 | −2.085% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04586 | 0.000% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0061% | 1h | 0.04569 | −0.360% | $197K | $140K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04584 | −0.038% | $18K | $90K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04579 | −0.153% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04579 | −0.145% | $4.1M | $13.6M | 50x | as long as short |
| Bybit MEGAUSDTshort | +0.0100% | 4h | 0.04582 | −0.087% | $3.6M | $5.5M | 20x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04578 | −0.174% | $941K | $3.1M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04579 | −0.147% | $135K | $4K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04583 | −0.065% | $203K | $320K | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
OKX MEGA-USDT-SWAP
Bulk MEGA-USD
Gate MEGA_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04579 | −0.153% | $819K | $367K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04584 | −0.044% | $239K | $112K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04581 | −0.109% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04577 | −0.196% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04572 | −0.312% | $322K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04565 | −0.459% | $18K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04561 | −0.545% | $24K | $229K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04588 | +0.044% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04573 | −0.283% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04576 | −0.209% | $131K | $829K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04571 | −0.322% | $3 | — | 3x | as long as short |
| Phoenix MEGA | +0.0173% | 1h | 0.04588 | +0.044% | $21K | $7K | 5x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04584 | −0.035% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERPlong | +0.0683% | 1h | 0.04586 | long leg | $18K | $46K | 5x | |
| Lighter MEGA | +0.1272% | 1h | 0.04607 | +0.458% | $651K | $330K | 3x | as long as short |
| Hyperliquid MEGA | +0.1776% | 1h | 0.04589 | +0.063% | $7.9M | $2.5M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.2147% | 1h | 0.04601 | +0.318% | $111 | $15 | 25x | as long as short |
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
Reya MEGARUSDPERP
Phoenix MEGA
GMX MEGA/USD [ETH-USDC]
Lighter MEGA
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL