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 +0.050%

Price spread now: Bitget against KuCoin+0.039%7-day average −0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1761.757% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.039%, 7d avg −0.103%

Together, before fees−0.090%−$9 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 0.141% dearer against KuCoin than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PHAUSDTM	0.05184	0.0100	pay 0.0050% / 4h	3h 20m	$461K	$4.1M	30x
Short	Bitget PHAUSDT	0.05186	0.0100	get 0.0050% / 4h	3h 20m	$1.5M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.103%: $14.14
Slippage, 4 orders: −$151.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$161.59
Costs to cover: 1.757%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Bitget: live order book, 3 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 KuCoin live order book, 7 min ago	10.94 bp	43.5 bp −$44	415.1 bp −$4,151	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	9.65 bp	45.3 bp −$45	158.6 bp −$1,586	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	0.05156	−0.535%	$16K	$899K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05173	−0.215%	$6.0M	$190.8M	50x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05185	+0.019%	$375K	$4.8M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05170	−0.270%	$1.8M	$8.7M	50x	as long as short
KuCoin PHAUSDTMlong	+0.0100%	4h	0.05184	long leg	$461K	$4.1M	30x
Bitget PHAUSDTshort	+0.0100%	4h	0.05186	+0.039%	$1.5M	$20.5M	50x
Variational Omni PHA	+0.0100%	4h	0.05159	−0.489%	$162K	$399K	—	as long as short
BloFin PHA-USDT	+0.0104%	4h	0.05148	−0.694%	$380K	$686K	50x	as long as short
Bybit PHAUSDT	+0.0270%	4h	0.05191	+0.135%	$2.2M	$23.2M	20x	as long as short
BingX PHA-USDT	+0.0298%	4h	0.05187	+0.058%	—	$3.4M	—	as long as short