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 −0.050%

Price spread now: KuCoin against Bitget+0.290%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1861.858% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.238%−$24 · spread now +0.290%, 7d avg +0.103%

Together, before fees−0.239%−$24 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: KuCoin is 0.188% dearer against Bitget than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PHAUSDT	0.05166	0.0100	pay 0.0050% / 4h	3h 20m	$1.5M	$20.5M	50x
Short	KuCoin PHAUSDTM	0.05181	0.0100	get 0.0050% / 4h	3h 20m	$461K	$4.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.290%Rate

Funding earned: $0
Price spread: +0.290% → +0.103%: $18.76
Slippage, 4 orders: −$161.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$167
Costs to cover: 1.858%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; KuCoin: live order book, 2 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	9.65 bp	43.3 bp −$43	139.6 bp −$1,396	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	14.52 bp	57.2 bp −$57	269.5 bp −$2,695	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	+0.0100%	4h	0.05184	+0.355%	$16K	$900K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05169	+0.049%	$6.0M	$190.8M	50x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05161	−0.097%	$373K	$4.8M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05168	+0.039%	$1.8M	$8.7M	50x	as long as short
KuCoin PHAUSDTMshort	+0.0100%	4h	0.05181	+0.290%	$461K	$4.1M	30x
Bitget PHAUSDTlong	+0.0100%	4h	0.05166	long leg	$1.5M	$20.5M	50x
Variational Omni PHA	+0.0100%	4h	0.05159	−0.142%	$162K	$399K	—	as long as short
BloFin PHA-USDT	+0.0104%	4h	0.05148	−0.348%	$380K	$686K	50x	as long as short
Bybit PHAUSDT	+0.0207%	4h	0.05164	−0.039%	$2.1M	$23.2M	20x	as long as short
BingX PHA-USDT	+0.0298%	4h	0.05167	+0.019%	—	$3.4M	—	as long as short