Funding arb · Price arb /

PHA

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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: BingX against Gate+0.059%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$336as in the Price arb table

costs, in and out, $10k−$3423.423% of the position

Long on Gate Short on BingX

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)−0.027%−$3 · spread now +0.059%, 7d avg −0.002%

Together, before fees+1.074%+$107 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: BingX is 0.061% dearer against Gate than usual: you sell high and buy low, +$6 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	Gate PHA_USDT	0.05058	0.0100	pay 0.0050% / 4h	2h 49m	$360K	$4.7M	25x
Short	BingX PHA-USDT	0.05061	0.0100	get 0.0050% / 4h	2h 49m	—	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → −0.002%: $6.09
Slippage, 4 orders: −$317.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$336.2
Costs to cover: 3.423%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; BingX: live order book, 15 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 Gate live order book, 3 min ago	4.91 bp	168.1 bp −$168	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	6.96 bp	23.1 bp −$23	84.7 bp −$847	462.8 bp −$46.3K	972.0 bp −$486.0K

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	−0.1346%	4h	0.05054	−0.075%	$7K	$752K	5x	as long as short
BloFin PHA-USDT	−0.0929%	4h	0.05048	−0.198%	$358K	$635K	50x	as long as short
Binance PHAUSDT	−0.0894%	4h	0.05056	−0.034%	$5.4M	$182.4M	50x	as long as short
MEXC PHA_USDT	−0.0892%	4h	0.05064	+0.119%	$1.8M	$8.4M	50x	as long as short
KuCoin PHAUSDTM	−0.0812%	4h	0.05057	−0.020%	$447K	$3.9M	30x	as long as short
Bitget PHAUSDT	−0.0130%	4h	0.05065	+0.138%	$1.5M	$19.9M	50x	as long as short
Variational Omni PHA	+0.0036%	4h	0.05060	+0.030%	$169K	$389K	—	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05060	+0.040%	$2.0M	$22.4M	20x	as long as short
Gate PHA_USDTlong	+0.0100%	4h	0.05058	long leg	$360K	$4.7M	25x
BingX PHA-USDTshort	+0.0100%	4h	0.05061	+0.059%	—	$3.3M	—