PHAROS

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BitgetPROSUSDT	0.6753	+0.0020	pay 0.0010% / 4h	3h 42m	$1.4M	$565K	20x	Long Bitget
SHORT	BinancePHAROSUSDT	0.6757	+0.0100	get 0.0050% / 4h	3h 42m	$6.4M	$3.7M	20x	Short Binance

Price gap+0.059%

Funding gap+0.0080% /8h

Funding pays +$2 a day on $10k, but the gap is 0.137% under its 7d average: −$14 if it goes back, about 5.7 days of funding. At the last 7 days' pace that is about 17 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$138+0.0080% /8h now · paid +1.382% over the last 7D

Price−$14spread +0.059% now, avg +0.196% → −0.137% if it goes back

Costs−$970.971% of $10k · taker + slippage, in and out

Result+$27+0.27%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.059%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

PHAROS on 10 exchanges

lowest funding first

Before you open

1 ok · 3 to watch

Watch: Thin at this size23.7 / 23.8 bp
At $10k entering Binance costs 23.8 bp, fee and slippage, 1.0× Bitget’s.
Note: Margin at max leverage$500 + $500
Bitget 20x, Binance 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval4h / 4h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$2.40Long Bitget: 6 payments, −$0.60; short Binance: 6 payments, +$3.00.
Watch: Gap narrower than usual+0.059% vs +0.196%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Note: Long leg is thinner$1.4M vs $6.4M OI
Both legs are deep; Bitget is the smaller one.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBitget Yes · Binance Yes
KYC mandatory since Sep 2023; unverified accounts can only withdraw and close positions.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0658%/8h × 21 periods+$138.18

Price spread+0.059% → +0.196% (7d avg)−$13.72

Slippage, 4 orderslive order books−$75.12

Fee Bitget bp × 2 orders−$12.00

Fee Binance bp × 2 orders−$10.00

Net · 7 days · $10k+$27.34

Costs to cover0.971%Break-even5.6 days

Slippage: Bitget: live order book, 9 min ago; Binance: live order book, 3 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBitget8.1323.7 bp−$2496.6 bp−$966doesn’t fitdoesn’t fit

SELL · SHORTBinance1.4823.8 bp−$24114.9 bp−$1,149doesn’t fitdoesn’t fit

Closing costs about the same again.