Funding you earn now, next payment 08:00 UTC−0.1224%/8h= −134.0% APRnext payment −$6.12 per $10,000 · paid last 24h +0.006%
Price spread now: Bybit against Binance+0.078%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$940.935% of the position
Funding, last 7 days+0.316%+$32 on $10k
+Price spread, last 7 days−0.035%−$3 · spread now +0.078%, 7d avg +0.033%
=The price spread pays, funding is against you. Bybit is 0.044% dearer against Binance than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of +0.033%): +$4 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 7 days funding on this pair paid +0.316%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.316% in total (about 16.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.12 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SOPHUSDT | 0.003863 | −0.0635 | get 0.0317% / 4h | 58m 53s | $5.0M | $11.4M | 25x |
| Short | Bybit SOPHUSDT | 0.003866 | −0.1859 | pay 0.0929% / 4h | 58m 53s | $2.0M | $2.9M | 25x |
Binance SOPHUSDT
Bybit SOPHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$257
- Price spread: +0.078% → +0.033%
- $4.43
- Slippage, 4 orders
- −$72.55
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$346.11
- Costs to cover
- 0.935%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 3 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 11 min ago | 1.29 bp | 16.5 bp −$16 | 70.3 bp −$703 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 3.90 bp | 28.2 bp −$28 | 113.4 bp −$1,134 | doesn't fit | doesn't fit |
SOPH on 9 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit SOPHUSDTshort | −0.1859% | 4h | 0.003866 | +0.078% | $2.0M | $2.9M | 25x | |
| BingX SOPH-USDT | −0.1618% | 4h | 0.003865 | +0.052% | — | $6.6M | — | as long as short |
| Hyperliquid SOPH | −0.1448% | 1h | 0.003864 | +0.026% | $409K | $373K | 3x | as long as short |
| KuCoin SOPHUSDTM | −0.0654% | 4h | 0.003867 | +0.104% | $836K | $107K | 30x | as long as short |
| Binance SOPHUSDTlong | −0.0635% | 4h | 0.003863 | long leg | $5.0M | $11.4M | 25x | |
| MEXC SOPH_USDT | −0.0590% | 4h | 0.003870 | +0.181% | $1.2M | $349K | 20x | as long as short |
| Bitget SOPHUSDT | −0.0364% | 4h | 0.003860 | −0.078% | $515K | $530K | 25x | as long as short |
| OKX SOPH-USDT-SWAP | −0.0120% | 4h | 0.003863 | 0.000% | $820K | $3.4M | 10x | as long as short |
| Gate SOPH_USDT | −0.0078% | 4h | 0.003865 | +0.052% | $627K | $373K | 25x | as long as short |
BingX SOPH-USDT
Hyperliquid SOPH
KuCoin SOPHUSDTM
MEXC SOPH_USDT
Bitget SOPHUSDT
OKX SOPH-USDT-SWAP
Gate SOPH_USDT