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 +0.083%

Price spread now: Variational Omni against Bybit+0.105%7-day average −0.169% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.258%+$26 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.105%, 7d avg −0.169%

Together, before fees+0.149%+ Points / potential airdropVariational Omni: Active · farm board+$15 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 0.274% dearer against Bybit than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.169%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PHAUSDT	0.04964	0.0100	pay 0.0050% / 4h	2h 19m	$2.0M	$22.4M	20x
Short	Variational Omni PHA	0.04969	0.0100	get 0.0050% / 4h	2h 19m	$156K	$399K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → −0.169%: $27.4
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $16.4
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: RFQ quote, 5 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 Bybit live order book, 4 min ago	4.00 bp	27.4 bp −$27	396.3 bp −$3,963	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	7.97 bp	doesn't fit	247.2 bp −$2,472	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	−0.0999%	4h	0.04958	−0.112%	$10K	$759K	5x	as long as short
BloFin PHA-USDT	−0.0622%	4h	0.04973	+0.181%	$356K	$630K	50x	as long as short
Binance PHAUSDT	−0.0591%	4h	0.04962	−0.034%	$5.3M	$183.2M	50x	as long as short
MEXC PHA_USDT	−0.0590%	4h	0.04958	−0.121%	$1.7M	$8.5M	50x	as long as short
KuCoin PHAUSDTM	−0.0542%	4h	0.04959	−0.101%	$420K	$3.9M	30x	as long as short
Bitget PHAUSDT	+0.0004%	4h	0.04963	−0.020%	$1.5M	$19.9M	50x	as long as short
Bybit PHAUSDTlong	+0.0100%	4h	0.04964	long leg	$2.0M	$22.4M	20x
Gate PHA_USDT	+0.0100%	4h	0.04960	−0.081%	$356K	$4.7M	25x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.04966	+0.040%	—	$3.3M	—	as long as short
Variational Omni PHAshort	+0.0100%	4h	0.04969	+0.105%	$156K	$399K	—