Funding you earn now, next payment 00:00 UTC−0.0395%/8h= −43.3% APRnext payment −$1.98 per $10,000 · paid last 24h −0.100%
Price spread now: BloFin against Bitget+0.160%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$1071.073% of the position
Funding, last 7 days−0.090%−$9 on $10k
+Price spread, last 3 days (all we have)+0.085%+$9 · spread now +0.160%, 7d avg +0.045%
=The price spread pays, funding is against you. BloFin is 0.114% dearer against Bitget than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.045%): +$11 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.090% in total) that is about 8.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.98 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 | 0.05012 | 0.0100 | pay 0.0050% / 4h | 1h 41m | $1.5M | $20.0M | 50x |
| Short | BloFin PHA-USDT | 0.05020 | −0.0295 | pay 0.0148% / 4h | 1h 41m | $356K | $639K | 50x |
Bitget PHAUSDT
BloFin PHA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$83.04
- Price spread: +0.160% → +0.045%
- $11.45
- Slippage, 4 orders
- −$83.3
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$178.89
- Costs to cover
- 1.073%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 3 min ago; BloFin: live order book, 40 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, 3 min ago | 6.99 bp | 23.6 bp −$24 | 77.7 bp −$777 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 40 min ago | 3.02 bp | 24.3 bp −$24 | 68.2 bp −$682 | 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 | −0.0569% | 4h | 0.05017 | +0.097% | $9K | $762K | 5x | as long as short |
| BloFin PHA-USDTshort | −0.0295% | 4h | 0.05020 | +0.160% | $356K | $639K | 50x | |
| KuCoin PHAUSDTM | −0.0276% | 4h | 0.05012 | 0.000% | $422K | $3.9M | 30x | as long as short |
| MEXC PHA_USDT | −0.0254% | 4h | 0.05018 | +0.120% | $1.8M | $8.5M | 50x | as long as short |
| Binance PHAUSDT | −0.0242% | 4h | 0.05021 | +0.180% | $5.3M | $183.8M | 50x | as long as short |
| Bybit PHAUSDT | +0.0100% | 4h | 0.05015 | +0.060% | $2.0M | $22.5M | 20x | as long as short |
| Gate PHA_USDT | +0.0100% | 4h | 0.05017 | +0.100% | $376K | $4.7M | 25x | as long as short |
| Bitget PHAUSDTlong | +0.0100% | 4h | 0.05012 | long leg | $1.5M | $20.0M | 50x | |
| BingX PHA-USDT | +0.0100% | 4h | 0.05020 | +0.160% | — | $3.4M | — | as long as short |
| Variational Omni PHA | +0.0100% | 4h | 0.05002 | −0.209% | $157K | $399K | — | as long as short |
Aster PHAUSDT
KuCoin PHAUSDTM
MEXC PHA_USDT
Binance PHAUSDT
Bybit PHAUSDT
Gate PHA_USDT
BingX PHA-USDT
Variational Omni PHA