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 +0.084%

Price spread now: Bitget against Bybit−0.344%7-day average −0.183% · you buy dearer than you sell

Net, funding: paid 7d − costs−$224as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2752.751% of the position

Long on Bybit Short on Bitget

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+0.394%+$39 · spread now −0.344%, 7d avg −0.183%

Together, before fees+0.908%+$91 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: Bitget is 0.161% cheaper against Bybit than usual: you would sell low and buy high, −$16 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	Bybit PHAUSDT	0.05517	0.0100	pay 0.0050% / 4h	6m 34s	$2.3M	$24.7M	20x
Short	Bitget PHAUSDT	0.05498	0.0100	get 0.0050% / 4h	6m 34s	$1.7M	$21.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now −0.344%Rate

Funding earned: $0
Price spread: −0.344% → −0.183%: −$16.13
Slippage, 4 orders: −$252.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$291.24
Costs to cover: 2.751%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	9.21 bp	72.7 bp −$73	648.7 bp −$6,487	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	9.21 bp	57.1 bp −$57	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	−0.0162%	4h	0.05476	−0.743%	$536K	$4.6M	30x	as long as short
Aster PHAUSDT	+0.0035%	4h	0.05478	−0.705%	$14K	$1.1M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05511	−0.109%	$6.6M	$206.8M	50x	as long as short
Bybit PHAUSDTlong	+0.0100%	4h	0.05517	long leg	$2.3M	$24.7M	20x
Gate PHA_USDT	+0.0100%	4h	0.05512	−0.091%	$424K	$5.2M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05500	−0.308%	$2.0M	$9.0M	50x	as long as short
Bitget PHAUSDTshort	+0.0100%	4h	0.05498	−0.344%	$1.7M	$21.8M	50x
BingX PHA-USDT	+0.0100%	4h	0.05508	−0.163%	—	$3.6M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05506	−0.200%	$195K	$427K	—	as long as short
BloFin PHA-USDT	+0.0132%	4h	0.05456	−1.106%	$425K	$795K	50x	as long as short