MEGA

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1169%/8h= −128.0% APRnext payment −$1.46 per $10,000 · paid last 24h −0.126%

Price spread now: Phoenix against Hyperliquid+0.241%61s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Phoenix

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. Phoenix is 0.241% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.241% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 16 hours. The two prices were read 61 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	Hyperliquid MEGA	0.04447	0.1169	pay 0.0146% / 1h	56m 32s	$7.6M	$2.4M	3x
Short	Phoenix MEGA	0.04458	0	get 0.0000% / 1h	56m 32s	$20K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee PhoenixbpOrdersPrice spread, now +0.241%Rate

Funding earned: −$245.41
Price spread: +0.241% → 0.000%: $24.06
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$237.35
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 6 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 Hyperliquid live order book, 6 min ago	1.79 bp	16.8 bp −$17	doesn't fit	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	−0.0288%	1h	0.04400	−1.057%	$5K	$11K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04434	−0.310%	$12K	—	150x	as long as short
Phoenix MEGAshort	0.0000%	1h	0.04458	+0.241%	$20K	$7K	5x
Nado MEGA-PERP	+0.0025%	1h	0.04438	−0.209%	$192K	$156K	2x	as long as short
BloFin MEGA-USDT	+0.0089%	4h	0.04435	−0.277%	$197K	$76K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0097%	4h	0.04435	−0.277%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04440	−0.163%	$20K	$81K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04444	−0.074%	$14K	$10K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04437	−0.232%	$4.0M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04434	−0.299%	$3.4M	$4.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04434	−0.299%	$908K	$2.8M	20x	as long as short
Bulk MEGA-USD	+0.0100%	1h	0.04460	+0.286%	$132K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04438	−0.209%	$190K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04436	−0.254%	$782K	$349K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04437	−0.232%	$229K	$112K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04438	−0.209%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04435	−0.277%	—	$1.7M	—	as long as short
Backpack MEGA_USDC_PERP	+0.0100%	1h	0.04441	−0.142%	$14K	$41K	5x	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04458	+0.242%	$241K	$107K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04452	+0.106%	$27K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04449	+0.038%	$24K	$229K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04437	−0.232%	$1K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04436	−0.254%	$126K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04438	−0.219%	$3	—	3x	as long as short
GMX MEGA/USD [ETH-USDC]	L +0.0235% / S −0.5353%	1h	0.04435	−0.288%	$3K	—	45x	as long as short
Hyperliquid MEGAlong	+0.1169%	1h	0.04447	long leg	$7.6M	$2.4M	3x
Lighter MEGA	+0.1408%	1h	0.04464	+0.376%	$600K	$299K	3x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1418%	1h	0.04444	−0.063%	$108	$15	25x	as long as short