Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h −0.114%
Price spread now: BloFin against BingX−0.040%81s7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as 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−$980.980% of the position
Funding, last 7 days−0.145%−$14 on $10k
+Price spread, last 4 days (all we have)+0.718%+$72 · spread now −0.040%, 7d avg −0.069%
=The price spread pays, funding is against you. BloFin is 0.029% dearer against BingX than usual: you sell high and buy low (spread −0.040% now, against its 7-day average of −0.069%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.145% in total) that is about 34 hours. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX PHA-USDT | 0.05029 | 0.0100 | pay 0.0050% / 4h | 1h 37m | — | $3.5M | — |
| Short | BloFin PHA-USDT | 0.05027 | 0.0070 | get 0.0035% / 4h | 1h 37m | $390K | $674K | 50x |
BingX PHA-USDT
BloFin PHA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.35
- Price spread: −0.040% → −0.069%
- $2.94
- Slippage, 4 orders
- −$75.96
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$101.38
- Costs to cover
- 0.980%
- Break-even
- never at this rate
Slippage from BingX: live order book, 12 min ago; BloFin: 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 BingX live order book, 12 min ago | 5.97 bp | 28.1 bp −$28 | 125.3 bp −$1,253 | 591.5 bp −$59.2K | doesn't fit |
| Sell BloFin live order book, 4 min ago | 2.97 bp | 21.1 bp −$21 | 88.9 bp −$889 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin PHA-USDTshort | +0.0070% | 4h | 0.05027 | −0.040% | $390K | $674K | 50x | |
| KuCoin PHAUSDTM | +0.0086% | 4h | 0.05022 | −0.139% | $469K | $4.3M | 30x | as long as short |
| Aster PHAUSDT | +0.0100% | 4h | 0.05027 | −0.047% | $10K | $951K | 5x | as long as short |
| Binance PHAUSDT | +0.0100% | 4h | 0.05014 | −0.291% | $5.9M | $195.4M | 50x | as long as short |
| Bybit PHAUSDT | +0.0100% | 4h | 0.05017 | −0.239% | $2.0M | $23.6M | 20x | as long as short |
| Gate PHA_USDT | +0.0100% | 4h | 0.05024 | −0.099% | $375K | $5.0M | 25x | as long as short |
| MEXC PHA_USDT | +0.0100% | 4h | 0.05016 | −0.259% | $1.7M | $8.7M | 50x | as long as short |
| Bitget PHAUSDT | +0.0100% | 4h | 0.05016 | −0.259% | $1.5M | $20.9M | 50x | as long as short |
| BingX PHA-USDTlong | +0.0100% | 4h | 0.05029 | long leg | — | $3.5M | — | |
| Variational Omni PHA | +0.0100% | 4h | 0.05058 | +0.577% | $162K | $404K | — | as long as short |
KuCoin PHAUSDTM
Aster PHAUSDT
Binance PHAUSDT
Bybit PHAUSDT
Gate PHA_USDT
MEXC PHA_USDT
Bitget PHAUSDT
Variational Omni PHA