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 +0.120%

Price spread now: BingX against MEXC−0.055%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$650.653% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 7 days+0.067%+$7 · spread now −0.055%, 7d avg +0.067%

Together, before fees+0.227%+$23 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: BingX is 0.122% cheaper against MEXC than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PHA_USDT	0.05460	0.0100	pay 0.0050% / 4h	4m 59s	$2.0M	$9.0M	50x
Short	BingX PHA-USDT	0.05457	0.0100	get 0.0050% / 4h	4m 59s	—	$3.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.067%: −$12.21
Slippage, 4 orders: −$51.28
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$77.49
Costs to cover: 0.653%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; BingX: live order book, 5 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, 3 min ago	2.75 bp	8.0 bp −$8	55.1 bp −$551	110.3 bp −$11.0K	282.0 bp −$141.0K
Sell BingX live order book, 5 min ago	6.36 bp	24.9 bp −$25	130.9 bp −$1,309	532.0 bp −$53.2K	885.6 bp −$442.8K

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	−0.0156%	4h	0.05460	0.000%	$534K	$4.6M	30x	as long as short
Aster PHAUSDT	+0.0052%	4h	0.05470	+0.192%	$16K	$1.1M	5x	as long as short
BloFin PHA-USDT	+0.0057%	4h	0.05464	+0.073%	$429K	$799K	50x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05460	+0.001%	$6.6M	$207.0M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05460	0.000%	$2.3M	$24.7M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05460	0.000%	$419K	$5.2M	25x	as long as short
MEXC PHA_USDTlong	+0.0100%	4h	0.05460	long leg	$2.0M	$9.0M	50x
Bitget PHAUSDT	+0.0100%	4h	0.05469	+0.165%	$1.7M	$21.8M	50x	as long as short
BingX PHA-USDTshort	+0.0100%	4h	0.05457	−0.055%	—	$3.6M	—
Variational Omni PHA	+0.0100%	4h	0.05492	+0.587%	$195K	$427K	—	as long as short