Funding you earn now, next payment 03:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.011%
Price spread now: BingX against Phoenix−0.500%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—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.500% cheaper against Phoenix than usual: you would sell low and buy high (−$50 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 | Phoenix MEGA | 0.04599 | 0.0176 | pay 0.0022% / 1h | 48m 50s | $21K | $7K | 5x |
| Short | BingX MEGA-USDT | 0.04576 | 0.0100 | get 0.0050% / 4h | 48m 50s | — | $1.7M | — |
Phoenix MEGA
BingX MEGA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$15.97
- Price spread: −0.500% → 0.000%
- −$50.01
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$82.98
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; BingX: live order book, 13 min ago. 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 BingX live order book, 13 min ago | 16.51 bp | 35.6 bp −$36 | 96.9 bp −$969 | 796.6 bp −$79.7K | 1269.8 bp −$634.9K |
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 | −0.0744% | 1h | 0.04589 | −0.207% | $5K | $13K | 50x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04572 | −0.592% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0048% | 1h | 0.04571 | −0.609% | $198K | $142K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0095% | 4h | 0.04576 | −0.500% | $202K | $94K | 50x | as long as short |
| Hyperliquid MEGA | +0.0100% | 1h | 0.04585 | −0.300% | $7.9M | $2.6M | 3x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04573 | −0.560% | $19K | $90K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04574 | −0.535% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04576 | −0.508% | $4.1M | $13.6M | 50x | as long as short |
| Bybit MEGAUSDT | +0.0100% | 4h | 0.04571 | −0.609% | $3.6M | $5.6M | 20x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04574 | −0.544% | $938K | $3.1M | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Hyperliquid MEGA
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate MEGA_USDT | +0.0100% | 4h | 0.04573 | −0.565% | $199K | $319K | 20x | as long as short |
| MEXC MEGA_USDT | +0.0100% | 4h | 0.04575 | −0.522% | $818K | $369K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04574 | −0.544% | $230K | $119K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04580 | −0.413% | $1.1M | $1.5M | 50x | as long as short |
| BingX MEGA-USDTshort | +0.0100% | 4h | 0.04576 | −0.500% | — | $1.7M | — | |
| Variational Omni MEGA | +0.0100% | 4h | 0.04582 | −0.365% | $323K | $226K | — | as long as short |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04606 | +0.142% | $24K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04585 | −0.304% | $24K | $231K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04570 | −0.631% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04570 | −0.631% | $2K | $1.9M | 10x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04550 | −1.065% | $134K | $4K | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04576 | −0.506% | $128K | $821K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04569 | −0.647% | $3 | — | 3x | as long as short |
| Phoenix MEGAlong | +0.0176% | 1h | 0.04599 | long leg | $21K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04571 | −0.618% | $3K | — | 45x | as long as short |
| Backpack MEGA_USDC_PERP | +0.0479% | 1h | 0.04574 | −0.544% | $18K | $48K | 5x | as long as short |
| Lighter MEGA | +0.0584% | 1h | 0.04594 | −0.109% | $650K | $337K | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.0691% | 1h | 0.04576 | −0.509% | $111 | $15 | 25x | as long as short |
Gate MEGA_USDT
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
Variational Omni MEGA
GRVT MEGA_USDT_Perp
ApeX Omni MEGAUSDT
Orderly PERP_MEGA_USDC
SunX MEGA-USDT
Bulk MEGA-USD
Extended MEGA-USD
Reya MEGARUSDPERP
GMX MEGA/USD [ETH-USDC]
Backpack MEGA_USDC_PERP
Lighter MEGA
Deribit MEGA_USDC-PERPETUAL