Funding arb · Price arb /

PHA

all PHA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.246%

Price spread now: Gate against BingX+0.079%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$477as in the Funding arb table

Net, price: spread back to 7d avg − costs−$359as in the Price arb table

costs, in and out, $10k−$3673.666% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.101%−$110 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.079%, 7d avg +0.002%

Together, before fees−1.212%−$121 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: Gate is 0.077% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PHA-USDT	0.05087	0.0100	pay 0.0050% / 4h	2h 55m	—	$3.3M	—
Short	Gate PHA_USDT	0.05091	0.0100	get 0.0050% / 4h	2h 55m	$362K	$4.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.002%: $7.7
Slippage, 4 orders: −$341.63
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$358.93
Costs to cover: 3.666%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Gate: live order book, 3 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, 10 min ago	6.96 bp	24.5 bp −$25	101.4 bp −$1,014	538.1 bp −$53.8K	doesn't fit
Sell Gate live order book, 3 min ago	5.97 bp	135.5 bp −$135	doesn't fit	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	−0.1389%	4h	0.05085	−0.033%	$7K	$752K	5x	as long as short
MEXC PHA_USDT	−0.0950%	4h	0.05095	+0.157%	$1.8M	$8.4M	50x	as long as short
Binance PHAUSDT	−0.0936%	4h	0.05085	−0.037%	$5.4M	$182.2M	50x	as long as short
BloFin PHA-USDT	−0.0918%	4h	0.05090	+0.059%	$366K	$640K	50x	as long as short
KuCoin PHAUSDTM	−0.0846%	4h	0.05080	−0.138%	$445K	$3.8M	30x	as long as short
Bitget PHAUSDT	−0.0152%	4h	0.05094	+0.138%	$1.5M	$19.9M	50x	as long as short
Variational Omni PHA	−0.0004%	4h	0.05064	−0.443%	$158K	$380K	—	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05098	+0.216%	$2.0M	$22.3M	20x	as long as short
Gate PHA_USDTshort	+0.0100%	4h	0.05091	+0.079%	$362K	$4.7M	25x
BingX PHA-USDTlong	+0.0100%	4h	0.05087	long leg	—	$3.3M	—