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 +0.204%

Price spread now: BingX against Gate−0.060%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$282as in the Funding arb table

Net, price: spread back to 7d avg − costs−$398as in the Price arb table

costs, in and out, $10k−$3923.916% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.101%+$110 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.060%, 7d avg +0.005%

Together, before fees+1.129%+$113 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: BingX is 0.065% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.005%.

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	BingX PHA-USDT	0.05003	0.0100	get 0.0050% / 4h	2h 52m	—	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.005%: −$6.46
Slippage, 4 orders: −$366.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$398.08
Costs to cover: 3.916%
Break-even: never at this rate

Slippage from Gate: live order book, just now; BingX: live order book, 12 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 BingX live order book, 12 min ago	6.75 bp	25.5 bp −$25	116.3 bp −$1,163	532.1 bp −$53.2K	949.7 bp −$474.9K

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 PHAUSDT	+0.0100%	4h	0.05007	+0.020%	$5.9M	$192.8M	50x	as long as short
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-USDTshort	+0.0100%	4h	0.05003	−0.060%	—	$3.5M	—
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