PHA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0304%/8h= +33.3% APRnext payment +$1.52 per $10,000 · paid last 24h −0.036%

Price spread now: BloFin against KuCoin+0.353%65s7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1501.499% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.281%−$28 · spread now +0.353%, 7d avg −0.067%

Together, before fees−0.356%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.421% dearer against KuCoin than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of −0.067%. Mind the row above: over the last 7 days funding on this pair cost −0.075%, so the current rate has only just turned in your favour. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.52 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PHAUSDTM	0.05380	−0.0212	get 0.0106% / 4h	3h 22m	$620K	$4.7M	30x
Short	BloFin PHA-USDT	0.05399	0.0092	get 0.0046% / 4h	3h 22m	$414K	$799K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against KuCoin. 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 KuCoinbpFee BloFinbpOrdersPrice spread, now +0.353%Rate

Funding earned: $63.84
Price spread: +0.353% → −0.067%: $42.05
Slippage, 4 orders: −$125.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$43.96
Costs to cover: 1.499%
Break-even: 11.8 days

Slippage from KuCoin: live order book, 1 min ago; BloFin: live order book, 10 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 KuCoin live order book, 1 min ago	12.11 bp	48.2 bp −$48	2273.3 bp −$22.7K	doesn't fit	doesn't fit
Sell BloFin live order book, 10 min ago	3.66 bp	23.5 bp −$23	84.6 bp −$846	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
Gate PHA_USDT	−0.0222%	4h	0.05378	−0.037%	$411K	$5.3M	25x	as long as short
KuCoin PHAUSDTMlong	−0.0212%	4h	0.05380	long leg	$620K	$4.7M	30x
Aster PHAUSDT	−0.0005%	4h	0.05376	−0.074%	$12K	$1.1M	5x	as long as short
BloFin PHA-USDTshort	+0.0092%	4h	0.05399	+0.353%	$414K	$799K	50x
Binance PHAUSDT	+0.0100%	4h	0.05373	−0.123%	$6.4M	$211.2M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05372	−0.149%	$2.3M	$25.0M	20x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05375	−0.093%	$1.9M	$9.1M	50x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.05375	−0.093%	$1.7M	$22.5M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05381	+0.019%	—	$3.7M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05377	−0.065%	$192K	$429K	—	as long as short