Funding you earn now, next payment 05:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.011%
Price spread now: Variational Omni against Phoenix−0.217%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.217% cheaper against Phoenix than usual: you would sell low and buy high (−$22 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 | 0.04492 | 0.0177 | pay 0.0022% / 1h | 23m 16s | $20K | $7K | 5x |
| Short | Variational Omni MEGA | 0.04482 | 0.0100 | get 0.0050% / 4h | 2h 23m | $316K | $226K | — |
Phoenix MEGA
Variational Omni MEGAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$16.22
- Price spread: −0.217% → 0.000%
- −$21.68
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$44.9
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 26 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 Variational Omni RFQ quote, 26 min ago | 5.53 bp | doesn't fit | 131.6 bp −$1,316 | 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 | −0.0048% | 1h | 0.04589 | +2.171% | $5K | $12K | 50x | as long as short |
| Bybit MEGAUSDT | −0.0046% | 4h | 0.04489 | −0.067% | $3.4M | $5.9M | 20x | as long as short |
| gTrade (Gains Network) MEGA/USD | L +0.0001% / S +0.0023% | 1h | 0.04491 | −0.026% | $1K | — | 150x | as long as short |
| Nado MEGA-PERP | +0.0058% | 1h | 0.04489 | −0.078% | $193K | $141K | 2x | as long as short |
| BloFin MEGA-USDT | +0.0099% | 4h | 0.04491 | −0.022% | $198K | $93K | 50x | as long as short |
| Aster MEGAUSDT | +0.0100% | 4h | 0.04491 | −0.012% | $18K | $91K | 5x | as long as short |
| Pacifica MEGA | +0.0100% | 1h | 0.04493 | +0.020% | $14K | $9K | 3x | as long as short |
| Binance MEGAUSDT | +0.0100% | 4h | 0.04490 | −0.045% | $3.9M | $13.7M | 50x | as long as short |
| OKX MEGA-USDT-SWAP | +0.0100% | 4h | 0.04487 | −0.111% | $911K | $3.1M | 20x | as long as short |
| Gate MEGA_USDT | +0.0100% | 4h | 0.04490 | −0.045% | $201K | $331K | 20x | as long as short |
Coinbase International MEGA-PERP-INTX
Bybit MEGAUSDT
gTrade (Gains Network) MEGA/USD
Nado MEGA-PERP
BloFin MEGA-USDT
Aster MEGAUSDT
Pacifica MEGA
Binance MEGAUSDT
OKX MEGA-USDT-SWAP
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 | 0.04490 | −0.045% | $810K | $398K | 50x | as long as short |
| KuCoin MEGAUSDTM | +0.0100% | 4h | 0.04491 | −0.022% | $227K | $120K | 50x | as long as short |
| Bitget MEGAUSDT | +0.0100% | 4h | 0.04491 | −0.022% | $1.0M | $1.5M | 50x | as long as short |
| BingX MEGA-USDT | +0.0100% | 4h | 0.04488 | −0.089% | — | $1.7M | — | as long as short |
| Backpack MEGA_USDC_PERP | +0.0100% | 1h | 0.04491 | −0.022% | $18K | $56K | 5x | as long as short |
| Variational Omni MEGAshort | +0.0100% | 4h | 0.04482 | −0.217% | $316K | $226K | — | |
| GRVT MEGA_USDT_Perp | +0.0100% | 4h | 0.04492 | 0.000% | $28K | $1.8M | 10x | as long as short |
| ApeX Omni MEGAUSDT | +0.0100% | 1h | 0.04484 | −0.178% | $23K | $228K | 50x | as long as short |
| Orderly PERP_MEGA_USDC | +0.0100% | 4h | 0.04490 | −0.045% | $3K | $2K | 10x | as long as short |
| SunX MEGA-USDT | +0.0100% | 4h | 0.04488 | −0.089% | $1K | $1.9M | 10x | as long as short |
| Bulk MEGA-USD | +0.0100% | 1h | 0.04501 | +0.191% | $133K | $111 | 10x | as long as short |
| Extended MEGA-USD | +0.0104% | 1h | 0.04487 | −0.117% | $126K | $431K | 5x | as long as short |
| Reya MEGARUSDPERP | +0.0159% | 1h | 0.04488 | −0.094% | $3 | — | 3x | as long as short |
| Phoenix MEGAlong | +0.0177% | 1h | 0.04492 | long leg | $20K | $7K | 5x | |
| GMX MEGA/USD [ETH-USDC] | L +0.0237% / S −0.5353% | 1h | 0.04490 | −0.049% | $3K | — | 45x | as long as short |
| Lighter MEGA | +0.0360% | 1h | 0.04510 | +0.401% | $615K | $366K | 3x | as long as short |
| Hyperliquid MEGA | +0.0423% | 1h | 0.04498 | +0.125% | $7.8M | $2.6M | 3x | as long as short |
| Deribit MEGA_USDC-PERPETUAL | +0.0507% | 1h | 0.04493 | +0.031% | $109 | $15 | 25x | as long as short |
MEXC MEGA_USDT
KuCoin MEGAUSDTM
Bitget MEGAUSDT
BingX MEGA-USDT
Backpack MEGA_USDC_PERP
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]
Lighter MEGA
Hyperliquid MEGA
Deribit MEGA_USDC-PERPETUAL