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 +0.060%

Price spread now: Bybit against Binance+0.048%7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$386as in the Funding arb table

Net, price: spread back to 7d avg − costs−$354as in the Price arb table

costs, in and out, $10k−$3453.447% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.408%−$41 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.048%, 7d avg +0.142%

Together, before fees−0.469%−$47 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: Bybit is 0.095% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PHAUSDT	0.04571	0.0100	pay 0.0050% / 4h	2h 22m	$5.1M	$218.0M	50x
Short	Bybit PHAUSDT	0.04573	0.0100	get 0.0050% / 4h	2h 22m	$1.9M	$25.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → +0.142%: −$9.47
Slippage, 4 orders: −$323.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$354.2
Costs to cover: 3.447%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Bybit: live order book, 1 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 Binance live order book, 6 min ago	1.93 bp	24.5 bp −$25	114.1 bp −$1,141	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	8.73 bp	144.0 bp −$144	340.9 bp −$3,409	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	−0.0040%	4h	0.04574	+0.069%	$668K	$4.9M	30x	as long as short
Aster PHAUSDT	+0.0060%	4h	0.04575	+0.097%	$12K	$1.2M	5x	as long as short
BloFin PHA-USDT	+0.0099%	4h	0.04519	−1.134%	$351K	$732K	50x	as long as short
Binance PHAUSDTlong	+0.0100%	4h	0.04571	long leg	$5.1M	$218.0M	50x
Bybit PHAUSDTshort	+0.0100%	4h	0.04573	+0.048%	$1.9M	$25.8M	20x
Gate PHA_USDT	+0.0100%	4h	0.04582	+0.244%	$355K	$5.5M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.04571	+0.004%	$1.6M	$9.3M	50x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.04579	+0.179%	$1.3M	$23.5M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.04575	+0.091%	—	$3.8M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05132	+12.270%	$183K	$429K	—	as long as short