Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRnext payment −$1.02 per $10,000 · paid last 24h −0.106%
Price spread now: Binance against Bitget−0.095%7-day average +0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs−$114as in the Price arb table
costs, in and out, $10k−$1031.032% of the position
Funding, last 7 days−0.107%−$11 on $10k
+Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.095%, 7d avg +0.012%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.107% cheaper against Bitget than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.012%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.107% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.02 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget PHAUSDT | 0.04988 | 0.0100 | pay 0.0050% / 4h | 1h 24m | $1.5M | $20.0M | 50x |
| Short | Binance PHAUSDT | 0.04983 | −0.0104 | pay 0.0052% / 4h | 1h 24m | $5.3M | $184.2M | 50x |
Bitget PHAUSDT
Binance PHAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bitget. 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
- −$42.8
- Price spread: −0.095% → +0.012%
- −$10.71
- Slippage, 4 orders
- −$81.23
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$156.75
- Costs to cover
- 1.032%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; Binance: 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 Bitget live order book, 4 min ago | 7.01 bp | 25.1 bp −$25 | 74.0 bp −$740 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 2.01 bp | 18.9 bp −$19 | 86.9 bp −$869 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster PHAUSDT | −0.0402% | 4h | 0.04981 | −0.131% | $8K | $765K | 5x | as long as short |
| BloFin PHA-USDT | −0.0163% | 4h | 0.04979 | −0.180% | $349K | $639K | 50x | as long as short |
| KuCoin PHAUSDTM | −0.0158% | 4h | 0.04979 | −0.180% | $418K | $3.9M | 30x | as long as short |
| Binance PHAUSDTshort | −0.0104% | 4h | 0.04983 | −0.095% | $5.3M | $184.2M | 50x | |
| MEXC PHA_USDT | −0.0102% | 4h | 0.04984 | −0.080% | $1.7M | $8.5M | 50x | as long as short |
| Bybit PHAUSDT | +0.0100% | 4h | 0.04988 | 0.000% | $2.0M | $22.5M | 20x | as long as short |
| Gate PHA_USDT | +0.0100% | 4h | 0.04982 | −0.120% | $373K | $4.7M | 25x | as long as short |
| Bitget PHAUSDTlong | +0.0100% | 4h | 0.04988 | long leg | $1.5M | $20.0M | 50x | |
| BingX PHA-USDT | +0.0100% | 4h | 0.04985 | −0.060% | — | $3.4M | — | as long as short |
| Variational Omni PHA | +0.0100% | 4h | 0.04989 | +0.028% | $156K | $399K | — | as long as short |
Aster PHAUSDT
BloFin PHA-USDT
KuCoin PHAUSDTM
MEXC PHA_USDT
Bybit PHAUSDT
Gate PHA_USDT
BingX PHA-USDT
Variational Omni PHA