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 +0.231%

Price spread now: Bitget against Gate+0.162%7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$366as in the Price arb table

costs, in and out, $10k−$3923.915% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.047%+$105 on $10k

Price spread, last 4 days (all we have)−0.251%−$25 · spread now +0.162%, 7d avg −0.090%

Together, before fees+0.796%+$80 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: Bitget is 0.252% dearer against Gate than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PHA_USDT	0.04925	0.0100	pay 0.0050% / 4h	16m 44s	$365K	$4.8M	25x
Short	Bitget PHAUSDT	0.04933	0.0100	get 0.0050% / 4h	16m 44s	$1.5M	$20.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.162%Rate

Funding earned: $0
Price spread: +0.162% → −0.090%: $25.24
Slippage, 4 orders: −$364.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$366.28
Costs to cover: 3.915%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bitget: 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 Gate live order book, 1 min ago	7.10 bp	187.1 bp −$187	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	9.15 bp	35.5 bp −$35	96.4 bp −$964	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
BloFin PHA-USDT	+0.0070%	4h	0.04941	+0.325%	$363K	$641K	50x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.04925	+0.002%	$18K	$837K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.04925	+0.004%	$5.3M	$187.4M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.04931	+0.122%	$1.9M	$22.8M	20x	as long as short
Gate PHA_USDTlong	+0.0100%	4h	0.04925	long leg	$365K	$4.8M	25x
MEXC PHA_USDT	+0.0100%	4h	0.04929	+0.081%	$1.7M	$8.6M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.04924	−0.020%	$455K	$3.9M	30x	as long as short
Bitget PHAUSDTshort	+0.0100%	4h	0.04933	+0.162%	$1.5M	$20.2M	50x
BingX PHA-USDT	+0.0100%	4h	0.04927	+0.041%	—	$3.4M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.04906	−0.389%	$155K	$399K	—	as long as short