Funding you earn now, next payment 01:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h +0.009%
Price spread now: Reya against Phoenix−0.170%59s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Reya is 0.170% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MEGA | 0.04531 | 0.0173 | pay 0.0022% / 1h | 48m 15s | $21K | $7K | 5x |
| Short | Reya MEGARUSDPERP | 0.04523 | 0.0159 | get 0.0020% / 1h | 48m 15s | $3 | — | 3x |
Phoenix MEGA
Reya MEGARUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- −$3.08
- Price spread: −0.170% → 0.000%
- −$16.99
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$33.07
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample | — | — | — | — | — |
Phoenix and Reya: 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 | −0.0432% | 1h | 0.04490 | −0.896% | $5K | $12K | 50x | as long as short |
| ApeX Omni MEGAUSDT | −0.0116% | 1h | 0.04529 | −0.044% | $24K | $232K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L −0.0018% / S +0.0023% | 1h | 0.04520 | −0.246% | $12K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0089% | 1h | 0.04525 | −0.121% | $195K | $140K | 2x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04528 | −0.061% | $17K | $90K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04537 | +0.139% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04524 | −0.153% | $4.0M | $13.5M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04522 | −0.199% | $3.5M | $5.4M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04522 | −0.199% | $929K | $3.1M | 20x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04523 | −0.177% | $200K | $319K | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
ApeX Omni MEGAUSDT
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDT
OKX MEGA-USDT-SWAP
Gate MEGA_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04522 | −0.199% | $838K | $359K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04525 | −0.132% | $236K | $117K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04525 | −0.132% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04520 | −0.243% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERP | +0.0100% | 1h | 0.04537 | +0.132% | $18K | $43K | 5x | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04528 | −0.071% | $319K | $227K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04552 | +0.464% | $28K | $1.7M | 10x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04521 | −0.221% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04530 | −0.022% | $1K | $1.9M | 10x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04600 | +1.520% | $136K | $4K | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04525 | −0.125% | $127K | $824K | 5x | as long as short |
| BloFin MEGA-USDT | +0.0140% | 4h | 0.04533 | +0.044% | $203K | $89K | 50x | as long as short |
| Reya MEGARUSDPERPshort | +0.0159% | 1h | 0.04523 | −0.170% | $3 | — | 3x | |
| Phoenix MEGAlong | +0.0173% | 1h | 0.04531 | long leg | $21K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04519 | −0.265% | $3K | — | 45x | as long as short |
| Lighter MEGA | +0.1288% | 1h | 0.04557 | +0.574% | $641K | $324K | 3x | as long as short |
| Hyperliquid MEGA | +0.2153% | 1h | 0.04538 | +0.157% | $7.8M | $2.5M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.2315% | 1h | 0.04534 | +0.066% | $110 | $15 | 25x | as long as short |
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Backpack MEGA_USDC_PERP
Variational Omni MEGA
GRVT MEGA_USDT_Perp
Orderly PERP_MEGA_USDC
SunX MEGA-USDT
Bulk MEGA-USD
Extended MEGA-USD
BloFin MEGA-USDT
GMX MEGA/USD [ETH-USDC]
Lighter MEGA
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL