Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: MEXC against Binance−0.037%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.037%, 7d avg +0.008%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.046% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PHAUSDT	0.05091	0.0100	pay 0.0050% / 4h	34m 53s	$5.6M	$185.7M	50x
Short	MEXC PHA_USDT	0.05089	0.0100	get 0.0050% / 4h	34m 53s	$1.9M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Binance. 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 BinancebpFee MEXCbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → +0.008%: −$4.58
Slippage, 4 orders: −$45.11
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$63.69
Costs to cover: 0.591%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; MEXC: live order book, 3 min ago.

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 Binance live order book, 8 min ago	1.97 bp	22.3 bp −$22	99.4 bp −$994	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.96 bp	9.2 bp −$9	39.4 bp −$394	90.3 bp −$9,026	288.4 bp −$144.2K

PHA on 10 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
Aster PHAUSDT	+0.0100%	4h	0.05085	−0.120%	$12K	$787K	5x	as long as short
Binance PHAUSDTlong	+0.0100%	4h	0.05091	long leg	$5.6M	$185.7M	50x
Bybit PHAUSDT	+0.0100%	4h	0.05092	+0.022%	$2.1M	$22.6M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05095	+0.080%	$384K	$4.7M	25x	as long as short
MEXC PHA_USDTshort	+0.0100%	4h	0.05089	−0.037%	$1.9M	$8.6M	50x
KuCoin PHAUSDTM	+0.0100%	4h	0.05083	−0.155%	$438K	$3.9M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05090	−0.018%	$1.5M	$20.1M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05090	−0.018%	—	$3.4M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05106	+0.295%	$161K	$399K	—	as long as short
BloFin PHA-USDT	+0.0142%	4h	0.05073	−0.352%	$358K	$655K	50x	as long as short