Settings8H · net · $10k
Funding arb · Price arb /

SOPH

all SOPH markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.080%
Price spread now: Hyperliquid against Gate−0.111%7-day average −0.070% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days−0.339%−$34 on $10k
Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.111%, 7d avg −0.070%
Together, before fees−0.435%+ Points / potential airdropHyperliquid: Season 2 · farm board−$44 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: Hyperliquid is 0.041% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.070%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate SOPH_USDT0.0045060.0100pay 0.0050% / 4h1h 50m$746K$196K25x
ShortHyperliquid SOPH0.0045010.0100get 0.0013% / 1h50m 00s$535K$158K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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

Funding earned
$0
Price spread: −0.111% → −0.070%
−$4.07
Slippage, 4 orders
no order book: not counted
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$28.07
Costs to cover
0.240%
Break-even
never at this rate
Slippage unknown: Gate: live order book, 32 min ago; Hyperliquid: live order book, 30 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 32 min ago5.53 bp116.8 bp −$117doesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 30 min ago4.43 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

SOPH on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid SOPHshort+0.0100%1h0.004501−0.111%$535K$158K3x
Binance SOPHUSDT+0.0100%4h0.004498−0.178%$5.4M$5.7M25xas long as short
Bybit SOPHUSDT+0.0100%4h0.004497−0.200%$1.8M$1.1M25xas long as short
OKX SOPH-USDT-SWAP+0.0100%4h0.004494−0.266%$999K$1.6M10xas long as short
Gate SOPH_USDTlong+0.0100%4h0.004506long leg$746K$196K25x
MEXC SOPH_USDT+0.0100%4h0.004500−0.133%$1.0M$173K20xas long as short
KuCoin SOPHUSDTM+0.0100%4h0.004498−0.178%$959K$41K30xas long as short
Bitget SOPHUSDT+0.0100%4h0.004500−0.133%$662K$226K25xas long as short
BingX SOPH-USDT+0.0100%4h0.004509+0.067%$6.6Mas long as short