Funding arb · Price arb /

PHA

all PHA markets

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 −0.106%

Price spread now: Gate against Bybit+0.364%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$512as in the Funding arb table

Net, price: spread back to 7d avg − costs−$420as in the Price arb table

costs, in and out, $10k−$4594.592% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.533%−$53 on $10k

Price spread, last 7 days−0.298%−$30 · spread now +0.364%, 7d avg −0.032%

Together, before fees−0.830%−$83 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 0.396% dearer against Bybit than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PHAUSDT	0.05492	0.0100	pay 0.0050% / 4h	6m 30s	$2.3M	$24.7M	20x
Short	Gate PHA_USDT	0.05512	0.0100	get 0.0050% / 4h	6m 30s	$424K	$5.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.364%Rate

Funding earned: $0
Price spread: +0.364% → −0.032%: $39.58
Slippage, 4 orders: −$433.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$419.6
Costs to cover: 4.592%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: 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 Gate live order book, 2 min ago	7.34 bp	120.2 bp −$120	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	−0.0160%	4h	0.05482	−0.182%	$537K	$4.6M	30x	as long as short
Aster PHAUSDT	+0.0035%	4h	0.05494	+0.040%	$14K	$1.1M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05498	+0.103%	$6.6M	$206.8M	50x	as long as short
Bybit PHAUSDTlong	+0.0100%	4h	0.05492	long leg	$2.3M	$24.7M	20x
Gate PHA_USDTshort	+0.0100%	4h	0.05512	+0.364%	$424K	$5.2M	25x
MEXC PHA_USDT	+0.0100%	4h	0.05490	−0.036%	$2.0M	$9.0M	50x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05486	−0.109%	$1.7M	$21.8M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05508	+0.291%	—	$3.6M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05506	+0.255%	$195K	$427K	—	as long as short
BloFin PHA-USDT	+0.0132%	4h	0.05456	−0.655%	$425K	$795K	50x	as long as short