Funding you earn now, next payment 23:00 UTC+0.0309%/8h= +33.8% APRnext payment +$0.39 per $10,000 · paid last 24h +0.031%
Price spread now: Backpack against Phoenix+0.089%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 +$9 a day on $10k at the current rate, and Backpack is 0.089% dearer against Phoenix than usual: you sell high and buy low: +$9 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 | 0.04510 | 0.0355 | pay 0.0044% / 1h | 31m 18s | $21K | $7K | 5x |
| Short | Backpack MEGA_USDC_PERP | 0.04514 | 0.0664 | get 0.0083% / 1h | 31m 18s | $18K | $41K | 5x |
Phoenix MEGA
Backpack MEGA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- $64.82
- Price spread: +0.089% → 0.000%
- $8.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $56.69
- Costs to cover
- 0.170%
- Break-even
- 0.9 days
Slippage unknown: Phoenix: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Phoenix 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 −0.0018% / S +0.0023% | 1h | 0.04512 | +0.050% | $12K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0096% | 1h | 0.04509 | −0.011% | $195K | $135K | 2x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04513 | +0.067% | $3K | $2K | 10x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04509 | −0.030% | $18K | $83K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04509 | −0.016% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04512 | +0.051% | $3.9M | $12.8M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04512 | +0.044% | $3.5M | $4.9M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04510 | 0.000% | $919K | $2.9M | 20x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04505 | −0.111% | $133K | $5K | 10x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04507 | −0.067% | $193K | $310K | 20x | as long as short |
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
Orderly PERP_MEGA_USDC
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
Bybit 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 | 0.04511 | +0.022% | $767K | $352K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04511 | +0.022% | $237K | $114K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04513 | +0.067% | $1.1M | $1.4M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04512 | +0.044% | — | $1.7M | — | as long as short |
| Variational Omni MEGA | +0.0100% | 4h | 0.04508 | −0.034% | $226K | $133K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04523 | +0.279% | $21K | $1.7M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04516 | +0.133% | $25K | $230K | 50x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04516 | +0.133% | $1K | $1.9M | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04513 | +0.060% | $128K | $613K | 5x | as long as short |
| BloFin MEGA-USDT | +0.0135% | 4h | 0.04512 | +0.044% | $195K | $77K | 50x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04514 | +0.088% | $3 | — | 3x | as long as short |
| GMX MEGA/USD [ETH-USDC] | L +0.0236% / S −0.5353% | 1h | 0.04513 | +0.067% | $3K | — | 45x | as long as short |
| Coinbase International MEGA-PERP-INTX | +0.0296% | 1h | 0.04490 | −0.435% | $5K | $12K | 50x | as long as short |
| Phoenix MEGAlong | +0.0355% | 1h | 0.04510 | long leg | $21K | $7K | 5x | |
| Backpack MEGA_USDC_PERPshort | +0.0664% | 1h | 0.04514 | +0.089% | $18K | $41K | 5x | |
| Hyperliquid MEGA | +0.1167% | 1h | 0.04523 | +0.293% | $7.7M | $2.4M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.1412% | 1h | 0.04521 | +0.233% | $109 | $15 | 25x | as long as short |
| Lighter MEGA | +0.1512% | 1h | 0.04534 | +0.532% | $638K | $319K | 3x | as long as short |
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
SunX MEGA-USDT
Extended MEGA-USD
BloFin MEGA-USDT
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Coinbase International MEGA-PERP-INTX
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL
Lighter MEGA