MEGA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1169%/8h= +128.0% APRnext payment +$1.46 per $10,000 · paid last 24h +0.144%

Price spread now: Hyperliquid against Phoenix−0.025%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Hyperliquid

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

Funding pays, the price is against you. Hyperliquid is 0.025% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$35 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MEGA	0.04470	0.0179	pay 0.0022% / 1h	50m 50s	$20K	$7K	5x
Short	Hyperliquid MEGA	0.04469	0.1348	get 0.0168% / 1h	50m 50s	$7.6M	$2.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Phoenix. 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 PhoenixbpFee HyperliquidbpOrdersPrice spread, now −0.025%Rate

Funding earned: $245.43
Price spread: −0.025% → 0.000%: −$2.46
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $226.97
Costs to cover: 0.160%
Break-even: 0.5 days

Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 11 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 Hyperliquid live order book, 11 min ago	3.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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	−0.0144%	1h	0.04490	+0.456%	$5K	$12K	50x	as long as short
gTrade (Gains Network) MEGA/USD	L −0.0018% / S +0.0023%	1h	0.04457	−0.298%	$12K	—	150x	as long as short
Nado MEGA-PERP	+0.0050%	1h	0.04458	−0.257%	$193K	$152K	2x	as long as short
BloFin MEGA-USDT	+0.0081%	4h	0.04461	−0.201%	$196K	$76K	50x	as long as short
Orderly PERP_MEGA_USDC	+0.0098%	4h	0.04459	−0.246%	$3K	$2K	10x	as long as short
Aster MEGAUSDT	+0.0100%	4h	0.04460	−0.229%	$20K	$82K	5x	as long as short
Pacifica MEGA	+0.0100%	1h	0.04460	−0.221%	$14K	$9K	3x	as long as short
Binance MEGAUSDT	+0.0100%	4h	0.04459	−0.238%	$3.9M	$12.8M	50x	as long as short
Bybit MEGAUSDT	+0.0100%	4h	0.04456	−0.313%	$3.4M	$4.9M	20x	as long as short
OKX MEGA-USDT-SWAP	+0.0100%	4h	0.04461	−0.201%	$913K	$2.9M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk MEGA-USD	+0.0100%	1h	0.04465	−0.112%	$132K	$5K	10x	as long as short
Gate MEGA_USDT	+0.0100%	4h	0.04460	−0.224%	$190K	$310K	20x	as long as short
MEXC MEGA_USDT	+0.0100%	4h	0.04459	−0.246%	$762K	$345K	50x	as long as short
KuCoin MEGAUSDTM	+0.0100%	4h	0.04463	−0.157%	$235K	$113K	50x	as long as short
Bitget MEGAUSDT	+0.0100%	4h	0.04461	−0.201%	$1.1M	$1.4M	50x	as long as short
BingX MEGA-USDT	+0.0100%	4h	0.04457	−0.291%	—	$1.7M	—	as long as short
Variational Omni MEGA	+0.0100%	4h	0.04473	+0.070%	$238K	$109K	—	as long as short
GRVT MEGA_USDT_Perp	+0.0100%	4h	0.04472	+0.045%	$21K	$1.7M	10x	as long as short
ApeX Omni MEGAUSDT	+0.0100%	1h	0.04460	−0.224%	$24K	$230K	50x	as long as short
SunX MEGA-USDT	+0.0100%	4h	0.04458	−0.268%	$2K	$1.9M	10x	as long as short
Extended MEGA-USD	+0.0104%	1h	0.04457	−0.295%	$127K	$613K	5x	as long as short
Reya MEGARUSDPERP	+0.0159%	1h	0.04458	−0.264%	$3	—	3x	as long as short
Phoenix MEGAlong	+0.0179%	1h	0.04470	long leg	$20K	$7K	5x
GMX MEGA/USD [ETH-USDC]	L +0.0236% / S −0.5353%	1h	0.04457	−0.298%	$3K	—	45x	as long as short
Backpack MEGA_USDC_PERP	+0.0639%	1h	0.04461	−0.201%	$18K	$41K	5x	as long as short
Deribit MEGA_USDC-PERPETUAL	+0.1006%	1h	0.04463	−0.154%	$108	$15	25x	as long as short
Lighter MEGA	+0.1328%	1h	0.04479	+0.201%	$619K	$311K	3x	as long as short
Hyperliquid MEGAshort	+0.1348%	1h	0.04469	−0.025%	$7.6M	$2.4M	3x