Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.013%
Price spread now: Orderly against Phoenix+0.549%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.549% dearer against Phoenix than usual: you sell high and buy low: +$55 more if the spread 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 | Phoenix MEGA | 0.04555 | 0 | get 0.0000% / 1h | 49m 08s | $21K | $7K | 5x |
| Short | Orderly PERP_MEGA_USDC | 0.04580 | 0.0100 | get 0.0050% / 4h | 3h 49m | $3K | $2K | 10x |
Phoenix MEGA
Orderly PERP_MEGA_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $21
- Price spread: +0.549% → 0.000%
- $54.88
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $62.88
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Orderly: 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 Orderly no order-book sample | — | — | — | — | — |
Phoenix and Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit MEGAUSDT | −0.0019% | 4h | 0.04581 | +0.571% | $3.5M | $5.9M | 20x | as long as short |
| Phoenix MEGAlong | 0.0000% | 1h | 0.04555 | long leg | $21K | $7K | 5x | |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04582 | +0.591% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0035% | 1h | 0.04576 | +0.472% | $197K | $140K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0076% | 4h | 0.04569 | +0.307% | $203K | $95K | 50x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04581 | +0.576% | $20K | $96K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04571 | +0.353% | $14K | $10K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04582 | +0.601% | $4.0M | $13.7M | 50x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04577 | +0.483% | $918K | $3.1M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04590 | +0.768% | $136K | −$0 | 10x | as long as short |
Bybit MEGAUSDT
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Aster MEGAUSDT
Pacifica MEGA
Binance 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 | 0.04582 | +0.593% | $206K | $321K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04583 | +0.615% | $759K | $401K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04579 | +0.527% | $243K | $124K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04583 | +0.615% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04581 | +0.571% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERP | +0.0100% | 1h | 0.04586 | +0.681% | $17K | $55K | 5x | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04576 | +0.466% | $322K | $223K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04562 | +0.154% | $21K | $2.0M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04565 | +0.220% | $23K | $226K | 50x | as long as short |
| Orderly PERP_MEGA_USDCshort | +0.0100% | 4h | 0.04580 | +0.549% | $3K | $2K | 10x | |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04567 | +0.263% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04580 | +0.557% | $128K | $799K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04581 | +0.566% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04582 | +0.586% | $3K | — | 45x | as long as short |
| Hyperliquid MEGA | +0.0308% | 1h | 0.04590 | +0.762% | $7.9M | $2.6M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.0579% | 1h | 0.04587 | +0.705% | $111 | $15 | 25x | as long as short |
| Lighter MEGA | +0.0896% | 1h | 0.04601 | +1.010% | $615K | $381K | 3x | as long as short |
| Coinbase International MEGA-PERP-INTX | +0.1296% | 1h | 0.04589 | +0.757% | $5K | $12K | 50x | as long as short |
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
SunX MEGA-USDT
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA
Coinbase International MEGA-PERP-INTX