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 +0.059%

Price spread now: Bybit against MEXC+0.056%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1651.647% of the position

Long on MEXC 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−0.015%−$1 · spread now +0.056%, 7d avg +0.136%

Together, before fees−0.423%−$42 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 0.080% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PHA_USDT	0.05320	0.0100	pay 0.0050% / 4h	2h 59m	$1.8M	$9.1M	50x
Short	Bybit PHAUSDT	0.05323	0.0100	get 0.0050% / 4h	2h 59m	$2.2M	$25.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.136%: −$7.99
Slippage, 4 orders: −$149.71
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$172.7
Costs to cover: 1.647%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Bybit: live order book, 4 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 MEXC live order book, 3 min ago	1.90 bp	9.2 bp −$9	47.5 bp −$475	94.2 bp −$9,421	281.3 bp −$140.6K
Sell Bybit live order book, 4 min ago	6.64 bp	77.7 bp −$78	261.4 bp −$2,614	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	−0.0136%	4h	0.05316	−0.075%	$624K	$4.7M	30x	as long as short
Gate PHA_USDT	−0.0114%	4h	0.05321	+0.019%	$406K	$5.3M	25x	as long as short
Aster PHAUSDT	+0.0033%	4h	0.05326	+0.109%	$9K	$1.1M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05322	+0.034%	$6.2M	$212.4M	50x	as long as short
Bybit PHAUSDTshort	+0.0100%	4h	0.05323	+0.056%	$2.2M	$25.1M	20x
MEXC PHA_USDTlong	+0.0100%	4h	0.05320	long leg	$1.8M	$9.1M	50x
Bitget PHAUSDT	+0.0100%	4h	0.05327	+0.132%	$1.7M	$22.7M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.05324	+0.075%	—	$3.7M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05306	−0.262%	$190K	$429K	—	as long as short
BloFin PHA-USDT	+0.0110%	4h	0.05300	−0.376%	$403K	$801K	50x	as long as short