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 +0.105%

Price spread now: Bitget against MEXC+0.065%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 7 days−0.203%−$20 · spread now +0.065%, 7d avg −0.053%

Together, before fees−0.096%−$10 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 0.118% dearer against MEXC than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PHA_USDT	0.04608	0.0100	pay 0.0050% / 4h	43m 28s	$1.6M	$9.5M	50x
Short	Bitget PHAUSDT	0.04611	0.0100	get 0.0050% / 4h	43m 28s	$1.5M	$24.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.053%: $11.8
Slippage, 4 orders: −$114.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$118.76
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bitget: 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, 5 min ago	2.18 bp	11.7 bp −$12	53.2 bp −$532	108.5 bp −$10.9K	306.1 bp −$153.1K
Sell Bitget live order book, 5 min ago	6.54 bp	51.6 bp −$52	doesn't fit	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	−0.0014%	4h	0.04611	+0.065%	$528K	$5.6M	30x	as long as short
Gate PHA_USDT	+0.0038%	4h	0.04610	+0.043%	$361K	$5.8M	25x	as long as short
BloFin PHA-USDT	+0.0092%	4h	0.04604	−0.087%	$312K	$794K	50x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.04607	−0.028%	$15K	$1.3M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.04611	+0.065%	$4.8M	$224.6M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.04614	+0.130%	$1.8M	$26.7M	20x	as long as short
MEXC PHA_USDTlong	+0.0100%	4h	0.04608	long leg	$1.6M	$9.5M	50x
Bitget PHAUSDTshort	+0.0100%	4h	0.04611	+0.065%	$1.5M	$24.5M	50x
BingX PHA-USDT	+0.0100%	4h	0.04612	+0.087%	—	$3.9M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.04596	−0.269%	$165K	$437K	—	as long as short