Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.046%

Price spread now: Bybit against Bitget−0.212%7-day average +0.183% · you buy dearer than you sell

Net, funding: paid 7d − costs−$315as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$2642.639% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.515%−$51 on $10k

Price spread, last 7 days+0.181%+$18 · spread now −0.212%, 7d avg +0.183%

Together, before fees−0.334%−$33 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: Bybit is 0.395% cheaper against Bitget than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of +0.183%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PHAUSDT	0.05187	0.0100	pay 0.0050% / 4h	2h 32m	$1.6M	$22.9M	50x
Short	Bybit PHAUSDT	0.05176	0.0100	get 0.0050% / 4h	2h 32m	$2.1M	$25.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee BybitbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → +0.183%: −$39.54
Slippage, 4 orders: −$240.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$303.47
Costs to cover: 2.639%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	8.72 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	6.77 bp	71.2 bp −$71	299.6 bp −$2,996	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	−0.0068%	4h	0.05168	−0.366%	$580K	$4.7M	30x	as long as short
Aster PHAUSDT	+0.0080%	4h	0.05184	−0.067%	$13K	$1.2M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05180	−0.132%	$6.1M	$213.9M	50x	as long as short
Bybit PHAUSDTshort	+0.0100%	4h	0.05176	−0.212%	$2.1M	$25.3M	20x
Gate PHA_USDT	+0.0100%	4h	0.05178	−0.174%	$389K	$5.3M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05170	−0.328%	$1.8M	$9.2M	50x	as long as short
Bitget PHAUSDTlong	+0.0100%	4h	0.05187	long leg	$1.6M	$22.9M	50x
BingX PHA-USDT	+0.0100%	4h	0.05181	−0.116%	—	$3.7M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05283	+1.845%	$188K	$429K	—	as long as short
BloFin PHA-USDT	+0.0117%	4h	0.05153	−0.655%	$406K	$795K	50x	as long as short