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 −0.120%

Price spread now: MEXC against BingX−0.218%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.218%, 7d avg −0.088%

Together, before fees+0.006%+$1 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 0.129% cheaper against BingX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PHA-USDT	0.05056	0.0100	pay 0.0050% / 4h	3h 44m	—	$3.4M	—
Short	MEXC PHA_USDT	0.05045	0.0100	get 0.0050% / 4h	3h 44m	$1.8M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.218%Rate

Funding earned: $0
Price spread: −0.218% → −0.088%: −$12.93
Slippage, 4 orders: −$60.13
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$87.07
Costs to cover: 0.741%
Break-even: never at this rate

Slippage from BingX: live order book, 10 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 BingX live order book, 10 min ago	6.92 bp	29.9 bp −$30	138.8 bp −$1,388	598.4 bp −$59.8K	doesn't fit
Sell MEXC live order book, 3 min ago	1.98 bp	11.2 bp −$11	48.7 bp −$487	106.3 bp −$10.6K	274.0 bp −$137.0K

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
BloFin PHA-USDT	+0.0044%	4h	0.05055	−0.020%	$371K	$658K	50x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.05048	−0.158%	$17K	$885K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05049	−0.134%	$5.7M	$189.4M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05048	−0.158%	$2.1M	$23.0M	20x	as long as short
MEXC PHA_USDTshort	+0.0100%	4h	0.05045	−0.218%	$1.8M	$8.6M	50x
KuCoin PHAUSDTM	+0.0100%	4h	0.05050	−0.119%	$482K	$4.0M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05038	−0.356%	$1.5M	$20.3M	50x	as long as short
BingX PHA-USDTlong	+0.0100%	4h	0.05056	long leg	—	$3.4M	—
Variational Omni PHA	+0.0100%	4h	0.05027	−0.579%	$156K	$399K	—	as long as short
Gate PHA_USDT	+0.0350%	4h	0.05050	−0.119%	$371K	$4.8M	25x	as long as short