Funding arb · Price arb /

MEGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0095%/8hpaid last 24h +0.007%

Price spread now: Phoenix against BloFin+0.067%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. Phoenix is 0.067% dearer against BloFin than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MEGA-USDT	0.04499	0.0095	pay 0.0047% / 4h	6m 09s	$202K	$78K	50x
Short	Phoenix MEGA	0.04502	0	get 0.0000% / 1h	6m 09s	$21K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee PhoenixbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$19.87
Price spread: +0.067% → 0.000%: $6.67
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$32.2
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 20 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 BloFin live order book, 20 min ago	2.26 bp	17.3 bp −$17	54.0 bp −$540	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
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04503	+0.089%	$12K	—	150x	as long as short
Phoenix MEGAshort	0.0000%	1h	0.04502	+0.067%	$21K	$7K	5x
Nado MEGA-PERP	+0.0008%	1h	0.04505	+0.144%	$195K	$163K	2x	as long as short
BloFin MEGA-USDTlong	+0.0095%	4h	0.04499	long leg	$202K	$78K	50x
Orderly PERP_MEGA_USDC	+0.0095%	4h	0.04499	0.000%	$3K	$2K	10x	as long as short
Lighter MEGA	+0.0096%	1h	0.04526	+0.600%	$607K	$295K	3x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04504	+0.102%	$22K	$81K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04507	+0.171%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04503	+0.089%	$4.1M	$13.1M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04504	+0.111%	$3.5M	$4.8M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04502	+0.067%	$927K	$3.0M	20x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04503	+0.089%	$183K	$270K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04502	+0.067%	$797K	$359K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04503	+0.089%	$233K	$115K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04505	+0.133%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04504	+0.111%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04506	+0.156%	$14K	$41K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04457	−0.934%	$240K	$106K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04457	−0.923%	$25K	$1.6M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04500	+0.022%	$24K	$227K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04499	0.000%	$2K	$2.0M	10x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04440	−1.311%	$131K	$5K	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04504	+0.115%	$128K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04502	+0.076%	$3	—	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.0194%	1h	0.04506	+0.160%	$109	$15	25x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04503	+0.078%	$3K	—	45x	as long as short
Hyperliquid MEGA	+0.1109%	1h	0.04519	+0.447%	$7.7M	$2.5M	3x	as long as short
Coinbase International MEGA-PERP-INTX	+0.1424%	1h	0.04400	−2.194%	$5K	$12K	50x	as long as short