Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Variational Omni against Bitget+0.168%7-day average −0.009% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now +0.168%, 7d avg −0.009%

Together, before fees−0.048%+ Points / potential airdropVariational Omni: Active · farm board−$5 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: Variational Omni is 0.177% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PHAUSDT	0.04929	0.0100	pay 0.0050% / 4h	16m 22s	$1.5M	$20.2M	50x
Short	Variational Omni PHA	0.04937	0.0100	get 0.0050% / 4h	16m 22s	$155K	$399K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.168%Rate

Funding earned: $0
Price spread: +0.168% → −0.009%: $17.72
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $5.72
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 min ago; Variational Omni: RFQ quote, 63 min ago. Net counts fees only.

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, 2 min ago	9.15 bp	23.1 bp −$23	81.3 bp −$813	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 63 min ago	8.02 bp	doesn't fit	244.6 bp −$2,446	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
BloFin PHA-USDT	+0.0070%	4h	0.04941	+0.243%	$363K	$641K	50x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.04932	+0.063%	$18K	$837K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.04932	+0.069%	$5.3M	$187.4M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.04933	+0.081%	$1.9M	$22.8M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.04930	+0.020%	$365K	$4.8M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.04933	+0.081%	$1.7M	$8.6M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.04929	0.000%	$455K	$3.9M	30x	as long as short
Bitget PHAUSDTlong	+0.0100%	4h	0.04929	long leg	$1.5M	$20.2M	50x
BingX PHA-USDT	+0.0100%	4h	0.04930	+0.020%	—	$3.4M	—	as long as short
Variational Omni PHAshort	+0.0100%	4h	0.04937	+0.168%	$155K	$399K	—