Bybit PHA/USDT Funding Rate

PHA/USDT on Bybit has maintained a 93.9% positive rate frequency across 946 funding settlements since 2024-05-31. This translates to an annualized yield of 0.33% for delta-neutral positions.

The funding rate ranged from a low of -0.8977% to a high of 0.1539% per settlement period. With 8-hour intervals, Bybit settles this pair 3 times per day — each settlement is a tradeable event.

The consistently high positive rate (93.9%) indicates persistent long-side demand for PHAperpetual futures. This creates a structural alpha for short-side collectors — and a highly predictable binary market for Settled traders. When the current rate is positive, there is historically >95% probability the next settlement will also be positive.

Funding rates are periodic payments between long and short traders on perpetual futures contracts. When the rate is positive, longs pay shorts — indicating bullish sentiment and excess leverage on the long side. When negative, shorts pay longs.

Bybit settles PHA/USDT funding every 8 hours. The rate is determined by the premium/discount between the perpetual contract price and the spot index price. Over 946 historical settlements, we observe a strong positive bias — making this pair highly predictable for Settled markets.