Funding you earn now, next payment 09:00 UTC−0.0059%/8h= −6.5% APRnext payment −$0.07 per $10,000 · paid last 24h +0.036%
Price spread now: Backpack against Reya−0.116%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 −$2 a day on $10k at the current rate, and Backpack is 0.116% cheaper against Reya than usual: you would sell low and buy high (−$12 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 | Reya MEGARUSDPERP | 0.04572 | 0.0159 | pay 0.0020% / 1h | 55m 43s | $3 | — | 3x |
| Short | Backpack MEGA_USDC_PERP | 0.04567 | 0.0100 | get 0.0013% / 1h | 55m 43s | $17K | $55K | 5x |
Reya MEGARUSDPERP
Backpack MEGA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. 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
- −$12.37
- Price spread: −0.116% → 0.000%
- −$11.56
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$39.93
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Reya and 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 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 +0.0001% / S +0.0023% | 1h | 0.04575 | +0.056% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0032% | 1h | 0.04577 | +0.114% | $197K | $140K | 2x | as long as short |
| Bybit MEGAUSDT | +0.0055% | 4h | 0.04560 | −0.269% | $3.5M | $5.9M | 20x | as long as short |
| BloFin MEGA-USDT | +0.0095% | 4h | 0.04591 | +0.409% | $204K | $96K | 50x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04563 | −0.209% | $20K | $96K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04562 | −0.234% | $14K | $10K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04557 | −0.334% | $4.0M | $13.8M | 50x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04555 | −0.378% | $915K | $3.2M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04590 | +0.387% | $136K | −$0 | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04562 | −0.225% | $205K | $321K | 20x | as long as short |
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
Bybit MEGAUSDT
BloFin MEGA-USDT
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
OKX MEGA-USDT-SWAP
Bulk MEGA-USD
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 | 0.04560 | −0.269% | $755K | $401K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04562 | −0.225% | $242K | $124K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04560 | −0.269% | $1.0M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04555 | −0.378% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERPshort | +0.0100% | 1h | 0.04567 | −0.116% | $17K | $55K | 5x | |
| Variational Omni MEGA | +0.0100% | 4h | 0.04572 | −0.012% | $322K | $223K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04587 | +0.322% | $29K | $2.0M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04588 | +0.344% | $24K | $226K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04568 | −0.094% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04573 | +0.016% | $2K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04556 | −0.361% | $128K | $799K | 5x | as long as short |
| Reya MEGARUSDPERPlong | +0.0159% | 1h | 0.04572 | long leg | $3 | — | 3x | |
| Phoenix MEGA | +0.0175% | 1h | 0.04592 | +0.431% | $21K | $7K | 5x | as long as short |
| Hyperliquid MEGA | +0.0178% | 1h | 0.04570 | −0.046% | $7.9M | $2.6M | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04574 | +0.038% | $3K | — | 45x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.0253% | 1h | 0.04574 | +0.038% | $111 | $15 | 25x | as long as short |
| Lighter MEGA | +0.0912% | 1h | 0.04581 | +0.191% | $612K | $380K | 3x | as long as short |
| Coinbase International MEGA-PERP-INTX | +0.1296% | 1h | 0.04589 | +0.377% | $5K | $12K | 50x | 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
Phoenix MEGA
Hyperliquid MEGA
GMX MEGA/USD [ETH-USDC]
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA
Coinbase International MEGA-PERP-INTX