Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Gate against Binance+0.058%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

costs, in and out, $10k−$2592.593% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.382%+$138 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.058%, 7d avg −0.021%

Together, before fees+1.429%+$143 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.078% dearer against Binance than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOPHUSDT	0.004506	0.0100	pay 0.0050% / 4h	2h 38m	$5.4M	$5.7M	25x
Short	Gate SOPH_USDT	0.004509	0.0100	get 0.0050% / 4h	2h 38m	$746K	$197K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee GatebpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → −0.021%: $7.85
Slippage, 4 orders: −$234.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$251.46
Costs to cover: 2.593%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Gate: live order book, 47 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, 14 min ago	1.11 bp	18.9 bp −$19	95.7 bp −$957	doesn't fit	doesn't fit
Sell Gate live order book, 47 min ago	4.43 bp	114.4 bp −$114	doesn't fit	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
Hyperliquid SOPH	+0.0100%	1h	0.004506	−0.009%	$536K	$158K	3x	as long as short
Binance SOPHUSDTlong	+0.0100%	4h	0.004506	long leg	$5.4M	$5.7M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004505	−0.031%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004503	−0.075%	$996K	$1.6M	10x	as long as short
Gate SOPH_USDTshort	+0.0100%	4h	0.004509	+0.058%	$746K	$197K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004505	−0.031%	$1.0M	$171K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004505	−0.031%	$960K	$42K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004505	−0.031%	$665K	$229K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004503	−0.075%	—	$6.6M	—	as long as short