Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Binance against MEXC−0.059%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$720.723% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.059%, 7d avg −0.006%

Together, before fees+0.107%+$11 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: Binance is 0.053% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PHA_USDT	0.05339	0.0100	pay 0.0050% / 4h	2h 43m	$1.9M	$9.1M	50x
Short	Binance PHAUSDT	0.05336	0.0100	get 0.0050% / 4h	2h 43m	$6.3M	$213.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.006%: −$5.27
Slippage, 4 orders: −$58.3
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.57
Costs to cover: 0.723%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Binance: live order book, 15 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 MEXC live order book, 4 min ago	0.94 bp	8.9 bp −$9	53.1 bp −$531	109.3 bp −$10.9K	259.5 bp −$129.7K
Sell Binance live order book, 15 min ago	2.83 bp	26.3 bp −$26	142.1 bp −$1,421	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
KuCoin PHAUSDTM	−0.0094%	4h	0.05333	−0.112%	$598K	$4.7M	30x	as long as short
Aster PHAUSDT	+0.0068%	4h	0.05336	−0.047%	$11K	$1.2M	5x	as long as short
BloFin PHA-USDT	+0.0093%	4h	0.05267	−1.349%	$403K	$798K	50x	as long as short
Binance PHAUSDTshort	+0.0100%	4h	0.05336	−0.059%	$6.3M	$213.1M	50x
Bybit PHAUSDT	+0.0100%	4h	0.05339	0.000%	$2.2M	$25.2M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05341	+0.037%	$403K	$5.3M	25x	as long as short
MEXC PHA_USDTlong	+0.0100%	4h	0.05339	long leg	$1.9M	$9.1M	50x
Bitget PHAUSDT	+0.0100%	4h	0.05337	−0.037%	$1.7M	$22.8M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05342	+0.056%	—	$3.7M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05289	−0.944%	$189K	$429K	—	as long as short