PHA (Phala Network) perpetual futures
PHA (Phala Network) perpetuals trade on 9 markets. 24h volume $254.05M, open interest $13.46M. Best funding APR +10.95% on asterdex. Cheapest $100k execution (24h median): 68.35 bps on mexc.
Funding rates by venue
Live funding rate, price, liquidity and the funding actually paid over the last 24 hours, 7 and 30 days for PHA (Phala Network) on every venue we track.
| Exchange | Symbol | Price | 24h volume | Open interest | Funding / interval | Funding APR | Paid 24h | Paid 7d | Paid 30d |
|---|---|---|---|---|---|---|---|---|---|
| binance | PHAUSDT | 0.0508 | $188.95M | $5.75M | 0.0050% | +10.95% | -0.1396% | -0.0090% | +0.2501% |
| bybit | PHAUSDT | 0.0509 | $23.00M | $1.05M | 0.0050% | +10.95% | -0.1174% | -0.4174% | -0.4954% |
| bitget | PHAUSDT | 0.0508 | $20.27M | $1.50M | 0.0050% | +10.95% | -0.0337% | +0.0973% | +0.7672% |
| mexc | PHA_USDT | 0.0509 | $8.63M | $1.80M | 0.0050% | +10.95% | -0.1385% | -0.0093% | +0.2431% |
| gateio | PHA_USDT | 0.0508 | $4.50M | $376.2K | 0.0050% | +10.95% | -0.2232% | -0.9501% | -0.8443% |
| kucoin | PHAUSDTM | 0.0508 | $4.00M | $461.7K | 0.0050% | +10.95% | -0.0841% | +0.0959% | +0.6511% |
| bingx | PHA-USDT | 0.0510 | $3.44M | $2.18M | 0.0050% | +10.95% | -0.0237% | +0.1459% | +0.8435% |
| asterdex | PHAUSDT | 0.0509 | $874.0K | $27.9K | 0.0050% | +10.95% | -0.2731% | -0.6917% | -1.5797% |
| variational | PHA | 0.0513 | $399.4K | $319.2K | 0.0050% | +10.95% | — | — | — |
Funding spread across venues
Across 9 venues the funding APR on PHA (Phala Network) runs from +10.95% on variational to +10.95% on binance. The gap between them is 0.00 percentage points a year: that is what a delta-neutral position would collect before fees, holding long on the venue that pays and short on the venue that charges. Over the last 30 days the largest amount actually settled was +0.8435% of position size on bingx.
Funding history over 30 days
Over the last 30 days we recorded 1775 funding settlements for PHA (Phala Network) across 8 venues. The rate was positive in 82% of them, meaning longs paid shorts that often. Summed over the window, bingx paid the most at +0.8485% of position size and asterdex the least at -1.5797%.
Liquidity
Across the venues listed above PHA (Phala Network) shows $254.05M of 24h volume and $13.46M of open interest. The deepest venue by 24h volume is binance at $188.95M.
Execution cost
The cheapest venue to open a $100k position in PHA (Phala Network), measured as the 24h median of the full cost including taker fee and slippage, is mexc at 68.35 bps. Funding only pays off once the cost of getting in and out is covered, so this number belongs next to the APR above.
What the funding rate on PHA (Phala Network) means
A perpetual future on PHA (Phala Network) has no expiry, so venues use a funding payment to keep its price tied to spot. When the perp trades above spot, longs pay shorts; when it trades below, shorts pay longs. The rate shown per venue is the share of position size paid at each settlement, and the APR is that share annualised over the venue's own interval. Venues settle PHA (Phala Network) on different schedules: 4h.
Because every venue computes its own rate from its own order book, the same asset can pay very differently in the same hour. The "paid" columns show what was actually settled rather than what is quoted now, which is the honest way to judge whether a PHA (Phala Network) position earned or cost money.
Frequently asked questions
What is the funding rate on PHA (Phala Network) right now?
Across 9 venues the funding APR on PHA (Phala Network) runs from +10.95% on variational to +10.95% on binance. The gap between them is 0.00 percentage points a year: that is what a delta-neutral position would collect before fees, holding long on the venue that pays and short on the venue that charges. Over the last 30 days the largest amount actually settled was +0.8435% of position size on bingx.
Which venue has the most liquid PHA (Phala Network) perpetual?
Across the venues listed above PHA (Phala Network) shows $254.05M of 24h volume and $13.46M of open interest. The deepest venue by 24h volume is binance at $188.95M.
How often is funding paid on PHA (Phala Network)?
Venues settle PHA (Phala Network) on different schedules: 4h.
Has funding on PHA (Phala Network) been paid consistently?
Over the last 30 days we recorded 1775 funding settlements for PHA (Phala Network) across 8 venues. The rate was positive in 82% of them, meaning longs paid shorts that often. Summed over the window, bingx paid the most at +0.8485% of position size and asterdex the least at -1.5797%.
Data generated at 2026-09-22T00:08:19Z. Live numbers load on this page automatically.