Funding you earn now, next payment 12:00 UTC−0.0042%/8h= −4.6% APRnext payment −$0.21 per $10,000 · paid last 24h +0.045%
Price spread now: Bybit against BloFin−0.043%7-day average +0.145% · you buy dearer than you sell
Net, funding: paid 7d − costs−$388as in the Funding arb table
Net, price: spread back to 7d avg − costs−$365as in the Price arb table
costs, in and out, $10k−$3463.459% of the position
Funding, last 7 days−0.425%−$42 on $10k
+Price spread, last 4 days (all we have)−0.573%−$57 · spread now −0.043%, 7d avg +0.145%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.189% cheaper against BloFin than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.145%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin PHA-USDT | 0.04602 | 0.0142 | pay 0.0071% / 4h | 3h 05m | $299K | $798K | 50x |
| Short | Bybit PHAUSDT | 0.04600 | 0.0100 | get 0.0050% / 4h | 3h 05m | $1.7M | $26.5M | 20x |
BloFin PHA-USDT
Bybit PHAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- −$8.77
- Price spread: −0.043% → +0.145%
- −$18.86
- Slippage, 4 orders
- −$322.91
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$373.53
- Costs to cover
- 3.459%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 6 min ago; Bybit: live order book, 3 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 BloFin live order book, 6 min ago | 3.25 bp | 22.7 bp −$23 | 54.4 bp −$544 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 3.24 bp | 112.6 bp −$113 | 430.4 bp −$4,304 | 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 | −0.0114% | 4h | 0.04587 | −0.326% | $500K | $5.6M | 30x | as long as short |
| Gate PHA_USDT | −0.0010% | 4h | 0.04604 | +0.043% | $357K | $5.7M | 25x | as long as short |
| Aster PHAUSDT | +0.0100% | 4h | 0.04596 | −0.138% | $17K | $1.3M | 5x | as long as short |
| Binance PHAUSDT | +0.0100% | 4h | 0.04596 | −0.135% | $4.7M | $224.5M | 50x | as long as short |
| Bybit PHAUSDTshort | +0.0100% | 4h | 0.04600 | −0.043% | $1.7M | $26.5M | 20x | |
| MEXC PHA_USDT | +0.0100% | 4h | 0.04600 | −0.043% | $1.5M | $9.5M | 50x | as long as short |
| Bitget PHAUSDT | +0.0100% | 4h | 0.04599 | −0.065% | $1.4M | $24.6M | 50x | as long as short |
| BingX PHA-USDT | +0.0100% | 4h | 0.04602 | 0.000% | — | $3.8M | — | as long as short |
| Variational Omni PHA | +0.0100% | 4h | 0.04615 | +0.277% | $168K | $408K | — | as long as short |
| BloFin PHA-USDTlong | +0.0142% | 4h | 0.04602 | long leg | $299K | $798K | 50x |
KuCoin PHAUSDTM
Gate PHA_USDT
Aster PHAUSDT
Binance PHAUSDT
MEXC PHA_USDT
Bitget PHAUSDT
BingX PHA-USDT
Variational Omni PHA