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 −0.048%

Price spread now: Binance against Bitget+0.074%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.074%, 7d avg +0.027%

Together, before fees−0.538%−$54 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: Binance is 0.047% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOPHUSDT	0.004503	0.0100	pay 0.0050% / 4h	32m 52s	$660K	$230K	25x
Short	Binance SOPHUSDT	0.004506	0.0100	get 0.0050% / 4h	32m 52s	$5.4M	$5.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.027%: $4.71
Slippage, 4 orders: −$78.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$95.45
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from Bitget: live order book, 42 min ago; Binance: live order book, 5 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 Bitget live order book, 42 min ago	2.22 bp	30.7 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.11 bp	16.6 bp −$17	60.2 bp −$602	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	0.004504	+0.022%	$534K	$160K	3x	as long as short
Binance SOPHUSDTshort	+0.0100%	4h	0.004506	+0.074%	$5.4M	$5.7M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004503	0.000%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004505	+0.044%	$1.0M	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004506	+0.067%	$744K	$188K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004506	+0.067%	$1.0M	$174K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004502	−0.022%	$960K	$42K	30x	as long as short
Bitget SOPHUSDTlong	+0.0100%	4h	0.004503	long leg	$660K	$230K	25x
BingX SOPH-USDT	+0.0100%	4h	0.004508	+0.111%	—	$6.6M	—	as long as short