Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: BingX against Bitget0.000%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1000.996% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now 0.000%, 7d avg +0.032%

Together, before fees−0.302%−$30 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: BingX is 0.032% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOPHUSDT	0.004510	0.0100	pay 0.0050% / 4h	2h 31m	$654K	$230K	25x
Short	BingX SOPH-USDT	0.004510	0.0100	get 0.0050% / 4h	2h 31m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.032%: −$3.21
Slippage, 4 orders: −$77.64
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$102.85
Costs to cover: 0.996%
Break-even: never at this rate

Slippage from Bitget: live order book, 34 min ago; BingX: live order book, 10 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, 34 min ago	4.45 bp	39.0 bp −$39	316.5 bp −$3,165	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	4.48 bp	11.8 bp −$12	23.1 bp −$231	638.9 bp −$63.9K	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	0.004513	+0.067%	$530K	$164K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004510	−0.010%	$5.4M	$5.5M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004515	+0.111%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004507	−0.067%	$1.0M	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004516	+0.133%	$738K	$167K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004511	+0.022%	$1.0M	$179K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004508	−0.044%	$956K	$42K	30x	as long as short
Bitget SOPHUSDTlong	+0.0100%	4h	0.004510	long leg	$654K	$230K	25x
BingX SOPH-USDTshort	+0.0100%	4h	0.004510	0.000%	—	$6.6M	—