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 −0.015%

Price spread now: Bitget against BingX+0.182%7-day average −0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1631.627% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.182%, 7d avg −0.114%

Together, before fees−0.139%−$14 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: Bitget is 0.296% dearer against BingX than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PHA-USDT	0.05483	0.0100	pay 0.0050% / 4h	6m 55s	—	$3.6M	—
Short	Bitget PHAUSDT	0.05493	0.0100	get 0.0050% / 4h	6m 55s	$1.7M	$21.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.182%Rate

Funding earned: $0
Price spread: +0.182% → −0.114%: $29.62
Slippage, 4 orders: −$140.66
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$133.04
Costs to cover: 1.627%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Bitget: live order book, 2 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, 3 min ago	6.36 bp	22.5 bp −$22	87.7 bp −$877	491.7 bp −$49.2K	885.9 bp −$443.0K
Sell Bitget live order book, 2 min ago	9.21 bp	57.1 bp −$57	doesn't fit	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	−0.0162%	4h	0.05466	−0.310%	$535K	$4.6M	30x	as long as short
Aster PHAUSDT	+0.0035%	4h	0.05465	−0.320%	$14K	$1.1M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05484	+0.013%	$6.6M	$206.8M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05489	+0.109%	$2.3M	$24.6M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05480	−0.055%	$421K	$5.2M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05480	−0.055%	$2.0M	$9.0M	50x	as long as short
Bitget PHAUSDTshort	+0.0100%	4h	0.05493	+0.182%	$1.7M	$21.8M	50x
BingX PHA-USDTlong	+0.0100%	4h	0.05483	long leg	—	$3.6M	—
Variational Omni PHA	+0.0100%	4h	0.05506	+0.419%	$195K	$427K	—	as long as short
BloFin PHA-USDT	+0.0132%	4h	0.05456	−0.492%	$425K	$795K	50x	as long as short