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 +0.083%

Price spread now: Binance against Gate+0.020%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$289as in the Funding arb table

Net, price: spread back to 7d avg − costs−$372as in the Price arb table

costs, in and out, $10k−$3833.829% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.941%+$94 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now +0.020%, 7d avg −0.092%

Together, before fees+0.785%+$79 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: Binance is 0.112% dearer against Gate than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PHA_USDT	0.05006	0.0100	pay 0.0050% / 4h	2h 52m	$369K	$4.9M	25x
Short	Binance PHAUSDT	0.05007	0.0100	get 0.0050% / 4h	2h 52m	$5.9M	$192.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.092%: $11.18
Slippage, 4 orders: −$357.85
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$371.67
Costs to cover: 3.829%
Break-even: never at this rate

Slippage from Gate: live order book, just now; Binance: live order book, 5 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 Gate live order book, just now	7.99 bp	191.4 bp −$191	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.97 bp	19.2 bp −$19	111.9 bp −$1,119	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	+0.0100%	4h	0.04994	−0.239%	$16K	$924K	5x	as long as short
Binance PHAUSDTshort	+0.0100%	4h	0.05007	+0.020%	$5.9M	$192.8M	50x
Bybit PHAUSDT	+0.0100%	4h	0.05008	+0.040%	$2.1M	$23.4M	20x	as long as short
Gate PHA_USDTlong	+0.0100%	4h	0.05006	long leg	$369K	$4.9M	25x
MEXC PHA_USDT	+0.0100%	4h	0.05008	+0.040%	$1.7M	$8.7M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.05005	−0.020%	$495K	$4.2M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05008	+0.040%	$1.5M	$20.7M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05003	−0.060%	—	$3.5M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05081	+1.492%	$164K	$403K	—	as long as short
BloFin PHA-USDT	+0.0140%	4h	0.04993	−0.260%	$397K	$658K	50x	as long as short