Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.018%
Price spread now: Phoenix against Bybit−0.346%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 −$3 a day on $10k at the current rate, and Phoenix is 0.346% cheaper against Bybit than usual: you would sell low and buy high (−$35 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 | Bybit MEGAUSDT | 0.04626 | 0.0100 | pay 0.0050% / 4h | 3h 08m | $3.6M | $5.3M | 20x |
| Short | Phoenix MEGA | 0.04610 | 0 | get 0.0000% / 1h | 8m 58s | $21K | $7K | 5x |
Bybit MEGAUSDT
Phoenix MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- −$21
- Price spread: −0.346% → 0.000%
- −$34.59
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$73.59
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 2.17 bp | 24.8 bp −$25 | 123.6 bp −$1,236 | 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 | −0.0048% | 1h | 0.04490 | −2.931% | $5K | $12K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04624 | −0.044% | $13K | — | 150x | as long as short |
| Phoenix MEGAshort | 0.0000% | 1h | 0.04610 | −0.346% | $21K | $7K | 5x | |
| Nado MEGA-PERP | +0.0038% | 1h | 0.04626 | 0.000% | $200K | $136K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0089% | 4h | 0.04644 | +0.389% | $201K | $90K | 50x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04624 | −0.033% | $20K | $87K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04628 | +0.039% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04628 | +0.043% | $4.1M | $13.3M | 50x | as long as short |
| Bybit MEGAUSDTlong | +0.0100% | 4h | 0.04626 | long leg | $3.6M | $5.3M | 20x | |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04624 | −0.043% | $944K | $3.1M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
OKX MEGA-USDT-SWAPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MEGA_USDT | +0.0100% | 4h | 0.04618 | −0.173% | $202K | $315K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04623 | −0.065% | $861K | $362K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04624 | −0.043% | $243K | $116K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04620 | −0.130% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04620 | −0.130% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04606 | −0.438% | $325K | $227K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04601 | −0.539% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04608 | −0.389% | $25K | $231K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04623 | −0.065% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04626 | 0.000% | $2K | $1.9M | 10x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04565 | −1.319% | $135K | $4K | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04624 | −0.045% | $130K | $822K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04625 | −0.026% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04623 | −0.071% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERP | +0.0374% | 1h | 0.04625 | −0.022% | $19K | $41K | 5x | as long as short |
| Lighter MEGA | +0.0960% | 1h | 0.04644 | +0.389% | $653K | $325K | 3x | as long as short |
| Hyperliquid MEGA | +0.1186% | 1h | 0.04635 | +0.190% | $7.9M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.2259% | 1h | 0.04635 | +0.197% | $112 | $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
Bulk MEGA-USD
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Backpack MEGA_USDC_PERP
Lighter MEGA
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL