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 +0.105%

Price spread now: Bitget against MEXC−0.020%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$770.775% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.104%+$10 · spread now −0.020%, 7d avg −0.048%

Together, before fees+0.210%+$21 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: Bitget is 0.028% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PHA_USDT	0.05061	0.0100	pay 0.0050% / 4h	1h 40m	$1.7M	$8.7M	50x
Short	Bitget PHAUSDT	0.05060	0.0100	get 0.0050% / 4h	1h 40m	$1.5M	$20.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.048%: $2.85
Slippage, 4 orders: −$61.47
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$74.62
Costs to cover: 0.775%
Break-even: never at this rate

Slippage from MEXC: live order book, 7 min ago; Bitget: 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 MEXC live order book, 7 min ago	2.00 bp	11.1 bp −$11	60.2 bp −$602	106.3 bp −$10.6K	286.2 bp −$143.1K
Sell Bitget live order book, 3 min ago	4.99 bp	30.3 bp −$30	105.2 bp −$1,052	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
KuCoin PHAUSDTM	+0.0078%	4h	0.05052	−0.178%	$472K	$4.3M	30x	as long as short
Aster PHAUSDT	+0.0100%	4h	0.05056	−0.098%	$10K	$951K	5x	as long as short
Binance PHAUSDT	+0.0100%	4h	0.05058	−0.059%	$6.0M	$195.3M	50x	as long as short
Bybit PHAUSDT	+0.0100%	4h	0.05066	+0.099%	$2.0M	$23.6M	20x	as long as short
Gate PHA_USDT	+0.0100%	4h	0.05060	−0.020%	$378K	$5.0M	25x	as long as short
MEXC PHA_USDTlong	+0.0100%	4h	0.05061	long leg	$1.7M	$8.7M	50x
Bitget PHAUSDTshort	+0.0100%	4h	0.05060	−0.020%	$1.5M	$20.9M	50x
BingX PHA-USDT	+0.0100%	4h	0.05060	−0.020%	—	$3.5M	—	as long as short
Variational Omni PHA	+0.0100%	4h	0.05058	−0.059%	$162K	$404K	—	as long as short
BloFin PHA-USDT	+0.0106%	4h	0.05052	−0.178%	$392K	$677K	50x	as long as short