PHAROS arbitrage between Binance and BingX: we compare the price of PHAROS on Binance (futures) and BingX (futures) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

PHAROS: BingX — deposit closed, withdrawal open.

Open interest in PHAROS right now — $3.5M: Binance $1.7M, BingX $1.4M, Bybit $337.0K. See OI PHAROS.

About PHAROS arbitrage

How do I read the PHAROS spread?

The spread is how many percent higher PHAROS trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on Binance and BingX. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get PHAROS alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.