PHA CVD: Spot vs Perp Taker Flow

PHA CVD: spot vs perp net buying

PHA cumulative volume delta (CVD): taker buys minus taker sells, in US dollars. The table shows PHA's net taker flow over the last 1, 4 and 24 hours on each exchange, spot and perpetual futures apart, and the chart shows spot and perp CVD over time.

Over the last 4 hours, PHA spot was net sold (-$47K) and perps were net sold (-$203K): takers are selling on both markets. Over 1h the read is buying on both and 24h the read is spot selling. The largest 24h net flow came from Binance spot (-$283K). PHA ranks #79 of 100 on the CVD screener by 24h volume ($24.8M across spot and perps).

#79 of 100 by 24h volumeTaker split from Binance, BybitWindows: 1h, 4h, 24hAs of 23:53 UTC

Verdict 1h

Buying on both

Over the last 1 hour, PHA spot was net bought (+$41K) and perps were net bought (+$148K): takers are buying on both markets.

Verdict 4h

Selling on both

Over the last 4 hours, PHA spot was net sold (-$47K) and perps were net sold (-$203K): takers are selling on both markets.

Verdict 24h

Spot selling

Over the last 24 hours, PHA spot was net sold (-$283K) and perps were roughly balanced (-$188K): only spot shows a clear imbalance, to the sell side.

PHA net taker flow by exchange · spot vs perp

taker buys minus taker sells, USD

Exchange	Market	Net 1h	Net 4h	Net 24h	Buy % 24h	Vol 24h
Binance	Spot	+$41K	-$47K	-$283K	44.2%	$2.44M
Binance	Perp	+$132K	-$205K	-$121K	49.7%	$19.72M
Bybit	Perp	+$15K	+$2,408	-$67K	48.7%	$2.65M
All exchanges	Spot	+$41K	-$47K	-$283K	44.2%	$2.44M
All exchanges	Perp	+$148K	-$203K	-$188K	49.6%	$22.37M

PHA CVD and taker flow

Spot vs perp, from range start · bars: net taker buys

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Chart: TradingView Lightweight Charts™

How to read it. Net taker flow is taker buys minus taker sells in US dollars: the change in PHA's CVD over the window. A side counts as buying or selling when its net flow is at least 2% of its volume and $10K; Spot buying, perps selling and Perps buying, spot selling are the divergences. Price, funding and open interest are on the PHA page. Refreshed every minute. Not financial advice.

Taker split from Binance, Bybit (1-minute bars recorded from their public feeds). Stablecoins and HIP-3 stock perps are left out.

Bybit caveat. Bybit's taker split is rebuilt from its public trade stream. A Bybit minute without a split (the first minute after a reconnect, or one the stream missed) counts as neutral in the 5-minute and hourly rollups these figures and the chart's longer ranges use; minutes recorded before that fix count as selling, so Bybit's older CVD can lean slightly negative.

PHA CVD FAQ

What does {} CVD show?

Cumulative volume delta adds up taker buys minus taker sells. The figures here are the change in PHA CVD over the last 1, 4 and 24 hours (the net taker flow) on each exchange, split into spot and perpetual futures. The chart shows spot and perp CVD from the start of the chosen range, with net taker flow as bars below.

How is the verdict decided?

Each side (spot or perps) counts as buying or selling when its net flow over the window is at least 2% of the volume that carries a taker split and at least $10K; smaller imbalances count as balanced. The verdict is the 4-hour read, the same rule as the CVD screener. It describes what takers did, not what price will do next. Not financial advice.