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 +0.085%

Price spread now: MEXC against Gate−0.020%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$307as in the Price arb table

costs, in and out, $10k−$3133.133% of the position

Long on Gate Short on MEXC

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)−0.091%−$9 · spread now −0.020%, 7d avg −0.088%

Together, before fees+0.850%+$85 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: MEXC is 0.068% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PHA_USDT	0.05019	0.0100	pay 0.0050% / 4h	2h 11m	$378K	$5.0M	25x
Short	MEXC PHA_USDT	0.05018	0.0100	get 0.0050% / 4h	2h 11m	$1.7M	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.088%: $6.8
Slippage, 4 orders: −$294.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$306.51
Costs to cover: 3.133%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; MEXC: 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	9.90 bp	158.3 bp −$158	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.98 bp	8.9 bp −$9	49.5 bp −$495	101.7 bp −$10.2K	330.2 bp −$165.1K

PHA on 9 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	0.05012	−0.142%	$12K	$940K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05017	−0.038%	$5.8M	$194.5M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05018	−0.020%	$2.0M	$23.6M	20x	as long as short
Gate PHA_USDTlong	+0.0100%	4h	0.05019	long leg	$378K	$5.0M	25x
MEXC PHA_USDTshort	+0.0100%	4h	0.05018	−0.020%	$1.7M	$8.7M	50x
KuCoin PHAUSDTM	+0.0100%	4h	0.05011	−0.159%	$447K	$4.2M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05017	−0.040%	$1.5M	$20.8M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05018	−0.020%	—	$3.5M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.04994	−0.497%	$161K	$404K	—	as long as short