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 −0.189%

Price spread now: Gate against Bitget+0.037%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$502as in the Funding arb table

Net, price: spread back to 7d avg − costs−$409as in the Price arb table

costs, in and out, $10k−$3973.971% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.047%−$105 on $10k

Price spread, last 7 days+0.034%+$3 · spread now +0.037%, 7d avg +0.155%

Together, before fees−1.013%−$101 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: Gate is 0.117% cheaper against Bitget than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PHAUSDT	0.05337	0.0100	pay 0.0050% / 4h	58m 47s	$1.5M	$21.3M	50x
Short	Gate PHA_USDT	0.05339	0.0100	get 0.0050% / 4h	58m 47s	$399K	$5.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → +0.155%: −$11.73
Slippage, 4 orders: −$370.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$408.84
Costs to cover: 3.971%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Gate: live order book, 4 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, 5 min ago	6.65 bp	47.6 bp −$48	168.8 bp −$1,688	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	10.45 bp	117.9 bp −$118	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	−0.0002%	4h	0.05347	+0.187%	$473K	$4.5M	30x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.05329	−0.148%	$14K	$1.0M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05335	−0.046%	$6.3M	$200.8M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05344	+0.131%	$2.2M	$24.2M	20x	as long as short
Gate PHA_USDTshort	+0.0100%	4h	0.05339	+0.037%	$399K	$5.1M	25x
MEXC PHA_USDT	+0.0100%	4h	0.05334	−0.056%	$1.8M	$8.8M	50x	as long as short
Bitget PHAUSDTlong	+0.0100%	4h	0.05337	long leg	$1.5M	$21.3M	50x
BingX PHA-USDT	+0.0100%	4h	0.05340	+0.056%	—	$3.6M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05279	−1.079%	$170K	$406K	—	as long as short
BloFin PHA-USDT	+0.0129%	4h	0.05306	−0.581%	$426K	$732K	50x	as long as short