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 +0.136%

Price spread now: Bybit against Gate+0.244%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$458as in the Funding arb table

Net, price: spread back to 7d avg − costs−$493as in the Price arb table

costs, in and out, $10k−$5115.110% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.244%, 7d avg +0.060%

Together, before fees+0.295%+$30 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: Bybit is 0.184% dearer against Gate than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.060%.

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 28s	$365K	$4.8M	25x
Short	Bybit PHAUSDT	0.04937	0.0100	get 0.0050% / 4h	16m 28s	$1.9M	$22.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.244%Rate

Funding earned: $0
Price spread: +0.244% → +0.060%: $18.41
Slippage, 4 orders: −$484.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$492.57
Costs to cover: 5.110%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Bybit: 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, 2 min ago	7.10 bp	187.1 bp −$187	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	7.09 bp	101.4 bp −$101	286.6 bp −$2,866	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	0.04926	+0.012%	$18K	$837K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.04930	+0.102%	$5.3M	$187.4M	50x	as long as short
Bybit PHAUSDTshort	+0.0100%	4h	0.04937	+0.244%	$1.9M	$22.8M	20x
Gate PHA_USDTlong	+0.0100%	4h	0.04925	long leg	$365K	$4.8M	25x
MEXC PHA_USDT	+0.0100%	4h	0.04933	+0.162%	$1.7M	$8.6M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.04929	+0.081%	$455K	$3.9M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.04933	+0.162%	$1.5M	$20.2M	50x	as long as short
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