Funding arb · Price arb /

PHA

all PHA markets

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 −0.121%

Price spread now: Binance against BingX+0.066%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

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

costs, in and out, $10k−$910.913% of the position

Long on BingX Short on Binance

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−0.096%−$10 · spread now +0.066%, 7d avg −0.072%

Together, before fees−0.256%−$26 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 0.138% dearer against BingX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PHA-USDT	0.05134	0.0100	pay 0.0050% / 4h	3h 13m	—	$3.4M	—
Short	Binance PHAUSDT	0.05137	0.0100	get 0.0050% / 4h	3h 13m	$6.0M	$191.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → −0.072%: $13.84
Slippage, 4 orders: −$71.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.48
Costs to cover: 0.913%
Break-even: never at this rate

Slippage from BingX: live order book, 6 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 BingX live order book, 6 min ago	5.86 bp	26.6 bp −$27	126.2 bp −$1,262	567.9 bp −$56.8K	850.0 bp −$425.0K
Sell Binance live order book, 15 min ago	1.98 bp	22.5 bp −$22	113.1 bp −$1,131	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
Aster PHAUSDT	+0.0100%	4h	0.05132	−0.036%	$15K	$903K	5x	as long as short
Binance PHAUSDTshort	+0.0100%	4h	0.05137	+0.066%	$6.0M	$191.0M	50x
Gate PHA_USDT	+0.0100%	4h	0.05131	−0.058%	$373K	$4.8M	25x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05138	+0.078%	$1.8M	$8.7M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.05128	−0.117%	$505K	$4.1M	30x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05130	−0.078%	$1.5M	$20.5M	50x	as long as short
BingX PHA-USDTlong	+0.0100%	4h	0.05134	long leg	—	$3.4M	—
Variational Omni PHA	+0.0100%	4h	0.05130	−0.074%	$161K	$399K	—	as long as short
Bybit PHAUSDT	+0.0103%	4h	0.05149	+0.292%	$2.1M	$23.2M	20x	as long as short
BloFin PHA-USDT	+0.0147%	4h	0.05145	+0.214%	$390K	$681K	50x	as long as short