Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.106%

Price spread now: Binance against Bitget−0.218%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1131.127% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.218%, 7d avg +0.018%

Together, before fees+0.003%$0 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: Binance is 0.237% cheaper against Bitget than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PHAUSDT	0.05036	0.0100	pay 0.0050% / 4h	3h 41m	$1.5M	$20.3M	50x
Short	Binance PHAUSDT	0.05025	0.0100	get 0.0050% / 4h	3h 41m	$5.7M	$189.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now −0.218%Rate

Funding earned: $0
Price spread: −0.218% → +0.018%: −$23.65
Slippage, 4 orders: −$90.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$136.35
Costs to cover: 1.127%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Binance: live order book, 2 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 Bitget live order book, 2 min ago	7.89 bp	39.1 bp −$39	110.4 bp −$1,104	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.99 bp	19.7 bp −$20	118.8 bp −$1,188	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-USDT	+0.0058%	4h	0.05065	+0.576%	$375K	$659K	50x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.05032	−0.072%	$17K	$888K	5x	as long as short
Binance PHAUSDTshort	+0.0100%	4h	0.05025	−0.218%	$5.7M	$189.6M	50x
Bybit PHAUSDT	+0.0100%	4h	0.05037	+0.020%	$2.1M	$23.0M	20x	as long as short
MEXC PHA_USDT	+0.0100%	4h	0.05029	−0.139%	$1.8M	$8.6M	50x	as long as short
KuCoin PHAUSDTM	+0.0100%	4h	0.05024	−0.238%	$479K	$4.0M	30x	as long as short
Bitget PHAUSDTlong	+0.0100%	4h	0.05036	long leg	$1.5M	$20.3M	50x
BingX PHA-USDT	+0.0100%	4h	0.05033	−0.060%	—	$3.4M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05027	−0.184%	$156K	$399K	—	as long as short
Gate PHA_USDT	+0.0308%	4h	0.05029	−0.139%	$366K	$4.8M	25x	as long as short