Funding you earn now, next payment 21:00 UTC−0.0656%/8h= −71.8% APRnext payment −$0.82 per $10,000 · paid last 24h −0.101%
Price spread now: Backpack against Hyperliquid−0.038%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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Backpack is 0.038% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 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 | Hyperliquid MEGA | 0.04475 | 0.0750 | pay 0.0094% / 1h | 29m 34s | $7.6M | $2.5M | 3x |
| Short | Backpack MEGA_USDC_PERP | 0.04473 | 0.0093 | get 0.0012% / 1h | 29m 34s | $14K | $41K | 5x |
Hyperliquid MEGA
Backpack MEGA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- −$137.78
- Price spread: −0.038% → 0.000%
- −$3.8
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$160.57
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 3 min ago; 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 Hyperliquid live order book, 3 min ago | 2.11 bp | 16.5 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 −0.0018% / S +0.0023% | 1h | 0.04474 | −0.016% | $12K | — | 150x | as long as short |
| Phoenix MEGA | 0.0000% | 1h | 0.04484 | +0.208% | $20K | $7K | 5x | as long as short |
| Nado MEGA-PERP | +0.0052% | 1h | 0.04455 | −0.440% | $192K | $159K | 2x | as long as short |
| Backpack MEGA_USDC_PERPshort | +0.0093% | 1h | 0.04473 | −0.038% | $14K | $41K | 5x | |
| Orderly PERP_MEGA_USDC | +0.0096% | 4h | 0.04474 | −0.016% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04466 | −0.188% | $21K | $80K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04464 | −0.228% | $14K | $10K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04457 | −0.385% | $4.0M | $12.9M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04454 | −0.463% | $3.4M | $4.9M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04452 | −0.507% | $912K | $2.9M | 20x | as long as short |
gTrade (Gains Network) MEGA/USD
Phoenix MEGA
Nado MEGA-PERP
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit MEGAUSDT
OKX MEGA-USDT-SWAPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk MEGA-USD | +0.0100% | 1h | 0.04480 | +0.120% | $132K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04462 | −0.284% | $211K | $287K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04463 | −0.261% | $773K | $357K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04465 | −0.217% | $230K | $112K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04463 | −0.261% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04459 | −0.351% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04479 | +0.106% | $242K | $107K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04483 | +0.185% | $19K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04487 | +0.275% | $25K | $228K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04476 | +0.029% | $2K | $1.9M | 10x | as long as short |
| BloFin MEGA-USDT | +0.0101% | 4h | 0.04488 | +0.297% | $200K | $77K | 50x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04461 | −0.316% | $127K | $613K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04475 | −0.001% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0235% / S −0.5353% | 1h | 0.04474 | −0.020% | $3K | — | 45x | as long as short |
| Coinbase International MEGA-PERP-INTX | +0.0384% | 1h | 0.04400 | −1.663% | $5K | $11K | 50x | as long as short |
| Lighter MEGA | +0.0704% | 1h | 0.04485 | +0.230% | $603K | $301K | 3x | as long as short |
| Hyperliquid MEGAlong | +0.0750% | 1h | 0.04475 | long leg | $7.6M | $2.5M | 3x | |
| Deribit MEGA_USDC-PERPETUAL | +0.1627% | 1h | 0.04483 | +0.179% | $108 | $15 | 25x | as long as short |
Bulk MEGA-USD
Gate MEGA_USDT
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
SunX MEGA-USDT
BloFin MEGA-USDT
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Coinbase International MEGA-PERP-INTX
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL