PHA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0892%/8h= −97.7% APRnext payment −$4.46 per $10,000 · paid last 24h +0.046%

Price spread now: KuCoin against Bybit−0.236%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$271as in the Price arb table

costs, in and out, $10k−$2522.517% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.516%+$52 on $10k

Price spread, last 4 days (all we have)+0.366%+$37 · spread now −0.236%, 7d avg −0.044%

Together, before fees+0.881%+$88 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and KuCoin is 0.192% cheaper against Bybit than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.516%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.516% in total (about 26.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PHAUSDT	0.05075	0.0100	pay 0.0050% / 4h	2h 48m	$2.0M	$22.4M	20x
Short	KuCoin PHAUSDTM	0.05063	−0.0792	pay 0.0396% / 4h	2h 48m	$449K	$3.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.236%Rate

Funding earned: −$187.32
Price spread: −0.236% → −0.044%: −$19.21
Slippage, 4 orders: −$228.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$458.28
Costs to cover: 2.517%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; KuCoin: live order book, 4 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, 5 min ago	6.87 bp	81.5 bp −$81	378.4 bp −$3,784	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	11.84 bp	45.2 bp −$45	201.8 bp −$2,018	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	−0.1318%	4h	0.05066	−0.182%	$7K	$752K	5x	as long as short
BloFin PHA-USDT	−0.0888%	4h	0.05065	−0.197%	$359K	$638K	50x	as long as short
MEXC PHA_USDT	−0.0880%	4h	0.05074	−0.020%	$1.8M	$8.4M	50x	as long as short
Binance PHAUSDT	−0.0865%	4h	0.05072	−0.059%	$5.4M	$182.4M	50x	as long as short
KuCoin PHAUSDTMshort	−0.0792%	4h	0.05063	−0.236%	$449K	$3.9M	30x
Bitget PHAUSDT	−0.0124%	4h	0.05072	−0.059%	$1.5M	$19.9M	50x	as long as short
Variational Omni PHA	+0.0036%	4h	0.05060	−0.305%	$169K	$389K	—	as long as short
Bybit PHAUSDTlong	+0.0100%	4h	0.05075	long leg	$2.0M	$22.4M	20x
Gate PHA_USDT	+0.0100%	4h	0.05067	−0.158%	$361K	$4.7M	25x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05065	−0.197%	—	$3.3M	—	as long as short