Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.121%

Price spread now: Binance against BingX+0.019%7-day average −0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$1011.015% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.019%, 7d avg −0.075%

Together, before fees−0.220%−$22 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: Binance is 0.094% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PHA-USDT	0.05337	0.0100	pay 0.0050% / 4h	57m 56s	—	$3.6M	—
Short	Binance PHAUSDT	0.05338	0.0100	get 0.0050% / 4h	57m 56s	$6.3M	$200.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.075%: $9.39
Slippage, 4 orders: −$81.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.09
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Binance: live order book, 15 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 BingX live order book, 7 min ago	7.52 bp	27.1 bp −$27	127.1 bp −$1,271	496.4 bp −$49.6K	856.4 bp −$428.2K
Sell Binance live order book, 15 min ago	1.85 bp	17.5 bp −$17	123.1 bp −$1,231	doesn't fit	doesn't fit

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
KuCoin PHAUSDTM	−0.0004%	4h	0.05337	0.000%	$530K	$4.5M	30x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.05348	+0.207%	$13K	$1.0M	5x	as long as short
Binance PHAUSDTshort	+0.0100%	4h	0.05338	+0.019%	$6.3M	$200.9M	50x
Bybit PHAUSDT	+0.0100%	4h	0.05353	+0.300%	$2.2M	$24.2M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05340	+0.056%	$399K	$5.1M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05333	−0.075%	$1.8M	$8.8M	50x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05337	0.000%	$1.5M	$21.3M	50x	as long as short
BingX PHA-USDTlong	+0.0100%	4h	0.05337	long leg	—	$3.6M	—
Variational Omni PHA	+0.0100%	4h	0.05279	−1.079%	$170K	$406K	—	as long as short
BloFin PHA-USDT	+0.0129%	4h	0.05306	−0.581%	$426K	$732K	50x	as long as short