ArbiLayer

PHA arbitrage

live

Live PHALA price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.15%Variational → Bitget · Perp–Perp
Best perp–perp spread+0.31%Variational → Bitget
Markets tracked149 venues · 8 perp · 6 spot · 0 DEX
Price range0.49%$0.0709 – $0.0712

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Variational logoVariational$0.071Bitget logoBitget$0.0712 +0.31%+0.15% +0.31%— +0.000%— LS Chart →
Variational logoVariational$0.071Bybit logoBybit$0.0712 +0.30%+0.14% +0.30%— +0.000%— LS Chart →
Variational logoVariational$0.071Gate logoGate$0.0712 +0.28%+0.12% +0.28%— +0.000%— LS Chart →
Variational logoVariational$0.071KuCoin logoKuCoin$0.0711 +0.20%+0.04% +0.20%— +0.000%— LS Chart →
Variational logoVariational$0.071Binance logoBinance$0.0711 +0.18%+0.02% +0.18%— +0.000%— LS Chart →
Variational logoVariational$0.071MEXC logoMEXC$0.0711 +0.18%+0.02% +0.18%— +0.000%— LS Chart →
Variational logoVariational$0.071Aster logoAster$0.0711 +0.14%-0.02% +0.14%— +0.000%— LS Chart →
Binance logoBinance$0.0711Bitget logoBitget$0.0712 +0.11%-0.05% +0.11%— 0.000%— LS Chart →
MEXC logoMEXC$0.0711Bitget logoBitget$0.0712 +0.11%-0.05% +0.11%— 0.000%— LS Chart →
Binance logoBinance$0.0711Bybit logoBybit$0.0712 +0.10%-0.06% +0.10%— 0.000%— LS Chart →
MEXC logoMEXC$0.0711Bybit logoBybit$0.0712 +0.10%-0.06% +0.10%— 0.000%— LS Chart →
Binance logoBinance$0.0711Gate logoGate$0.0712 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
MEXC logoMEXC$0.0711Gate logoGate$0.0712 +0.08%-0.08% +0.08%— 0.000%— LS Chart →
Aster logoAster$0.0712Bitget logoBitget$0.0712 +0.03%-0.13% +0.03%— 0.000%— LS Chart →
Aster logoAster$0.0712Bybit logoBybit$0.0712 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

PHA price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Gate logoGatePerpetual · PHA_USDTPerpetual $0.0712$0.0712$0.0712+0.06% +0.030%$4.89M
Bybit logoBybitPerpetual · PHAUSDTPerpetual $0.0712$0.0712$0.0712+0.08% +0.030%$3.20M
Bitget logoBitgetPerpetual · PHAUSDTPerpetual $0.0712$0.0713$0.0712+0.12% +0.030%$2.25M
MEXC logoMEXCPerpetual · PHA_USDTPerpetual $0.0711$0.0711$0.0711-0.04% +0.030%$982.3K
OKX logoOKXSpot · PHA-USDTSpot $0.071$0.0711$0.0711-0.09% —$750.6K
KuCoin logoKuCoinPerpetual · PHAUSDTMPerpetual $0.0711$0.0712$0.0712+0.05% +0.030%$350.0K
KuCoin logoKuCoinSpot · PHA-USDTSpot $0.071$0.0711$0.0711-0.13% —$276.7K
Gate logoGateSpot · PHA_USDTSpot $0.0711$0.0711$0.0711-0.06% —$207.3K
Bitget logoBitgetSpot · PHAUSDTSpot $0.0711$0.0713$0.0712+0.08% —$136.5K
Variational logoVariationalPerpetual · PHAPerpetual $0.0708$0.071$0.0709-0.37% +0.030%$32.8K
Binance logoBinancePerpetual · PHAUSDTPerpetual $0.0711$0.0711$0.0711-0.04% +0.030%—
Aster logoAsterPerpetual · PHAUSDTPerpetual $0.0711$0.0712$0.0711-0.01% +0.030%—
Binance logoBinanceSpot · PHAUSDTSpot $0.0711$0.0712$0.0711+0.01% ——
MEXC logoMEXCSpot · PHAUSDTSpot $0.0712$0.0713$0.0712+0.09% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

PHA arbitrage explained

Right now PHALA (PHA) trades on 9 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.071 and the highest bid on Bitget perp at $0.0712.

The widest PHA perpetual spread is between Variational and Bitget: long PHA on Variational at $0.071 and short on Bitget at $0.0712 for +0.31% gross, or +0.15% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.000% per day, which the position collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best PHA route is to buy spot on KuCoin and short the perpetual on Bitget: +0.14% gross, -0.06% net, with +0.030% a day of funding on the short leg.

Spot–spot PHA arbitrage (buy on KuCoin, withdraw, deposit and sell on MEXC) shows +0.08% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small PHA gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: PHA funding rates · PHA spread charts · PHALA price · arbitrage scanner for all coins.

Is there a PHA arbitrage opportunity right now?

The best PHA route right now is to buy on Variational → sell on Bitget (Perp–Perp): +0.31% gross and +0.15% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest PHA?

Variational (perp) has the lowest PHA ask at $0.071, and Bitget (perp) the highest bid at $0.0712. Prices update every 15 seconds on this page.

How many exchanges list PHA?

ArbiLayer tracks 14 PHA markets on 9 venues: 8 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage PHA without transferring coins?

Use two perpetual contracts: go long PHA on the cheaper exchange (Variational now) and short it on the more expensive one (Bitget), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

BLAST +18.36%CRO +18.24%UPC +7.25%BDX +6.89%ONE +6.71%ESPORTS +6.51%OPENAI +5.15%CATE +3.70%SPCX +3.66%ANTHROPIC +3.51%AI +3.47%ZIL +3.06%OURA +2.97%H100 +2.70%EGLD +2.67%APPSTOCK +2.18%BONER +2.15%FLYBRAIN +1.99%