Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0236%/8hnext payment −$1.18 per $10,000 · paid last 24h +0.251%

Price spread now: KuCoin against Gate−0.057%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$278as in the Funding arb table

Net, price: spread back to 7d avg − costs−$391as in the Price arb table

costs, in and out, $10k−$3843.841% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.061%+$106 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.057%, 7d avg +0.015%

Together, before fees+1.129%+$113 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and KuCoin is 0.072% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.061%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PHA_USDT	0.05228	−0.0650	get 0.0325% / 4h	5m 55s	$396K	$4.6M	25x
Short	KuCoin PHAUSDTM	0.05225	−0.0886	pay 0.0443% / 4h	5m 55s	$569K	$3.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Gate. 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 GatebpFee KuCoinbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$49.56
Price spread: −0.057% → +0.015%: −$7.2
Slippage, 4 orders: −$357.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$440.85
Costs to cover: 3.841%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; KuCoin: live order book, 6 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 Gate live order book, 2 min ago	5.78 bp	160.1 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	12.45 bp	47.6 bp −$48	213.3 bp −$2,133	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	−0.1507%	4h	0.05219	−0.178%	$7K	$731K	5x	as long as short
Binance PHAUSDT	−0.1085%	4h	0.05230	+0.038%	$5.8M	$176.3M	50x	as long as short
MEXC PHA_USDT	−0.1078%	4h	0.05223	−0.096%	$1.8M	$8.2M	50x	as long as short
BloFin PHA-USDT	−0.1039%	4h	0.05182	−0.880%	$399K	$636K	50x	as long as short
KuCoin PHAUSDTMshort	−0.0886%	4h	0.05225	−0.057%	$569K	$3.8M	30x
Bybit PHAUSDT	−0.0799%	4h	0.05231	+0.057%	$2.2M	$21.8M	20x	as long as short
Gate PHA_USDTlong	−0.0650%	4h	0.05228	long leg	$396K	$4.6M	25x
Variational Omni PHA	−0.0324%	4h	0.05232	+0.086%	$175K	$362K	—	as long as short
Bitget PHAUSDT	−0.0256%	4h	0.05217	−0.210%	$1.5M	$19.5M	50x	as long as short
BingX PHA-USDT	−0.0170%	4h	0.05222	−0.115%	—	$3.2M	—	as long as short