Funding arb · Price arb /

PHA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Variational Omni against Bybit−0.078%7-day average −0.194% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.256%+$26 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.078%, 7d avg −0.194%

Together, before fees+0.331%+ Points / potential airdropVariational Omni: Active · farm board+$33 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: Variational Omni is 0.116% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.194%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PHAUSDT	0.04578	0.0100	pay 0.0050% / 4h	1h 58m	$1.7M	$24.2M	20x
Short	Variational Omni PHA	0.04574	0.0100	get 0.0050% / 4h	1h 58m	$166K	$333K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → −0.194%: $11.64
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.64
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 3 min ago; Variational Omni: RFQ quote, 53 min ago. Net counts fees only.

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 Bybit live order book, 3 min ago	3.28 bp	112.3 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 53 min ago	9.82 bp	doesn't fit	280.4 bp −$2,804	doesn't fit	doesn't fit

PHA on 10 exchanges

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	−0.0382%	4h	0.04570	−0.175%	$355K	$4.7M	25x	as long as short
KuCoin PHAUSDTM	−0.0192%	4h	0.04570	−0.175%	$496K	$5.5M	30x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.04575	−0.060%	$17K	$1.3M	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.04575	−0.066%	$4.7M	$209.1M	50x	as long as short
Bybit PHAUSDTlong	+0.0100%	4h	0.04578	long leg	$1.7M	$24.2M	20x
MEXC PHA_USDT	+0.0100%	4h	0.04576	−0.044%	$1.4M	$8.8M	50x	as long as short
Bitget PHAUSDT	+0.0100%	4h	0.04575	−0.066%	$1.3M	$23.4M	50x	as long as short
BingX PHA-USDT	+0.0100%	4h	0.04573	−0.109%	—	$3.7M	—	as long as short
Variational Omni PHAshort	+0.0100%	4h	0.04574	−0.078%	$166K	$333K	—
BloFin PHA-USDT	+0.0118%	4h	0.04561	−0.371%	$304K	$726K	50x	as long as short