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 −0.033%

Price spread now: OKX against Gate−0.133%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$443as in the Funding arb table

Net, price: spread back to 7d avg − costs−$302as in the Price arb table

costs, in and out, $10k−$2902.899% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.529%−$153 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.133%, 7d avg −0.012%

Together, before fees−1.454%−$145 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: OKX is 0.121% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004505	0.0100	pay 0.0050% / 4h	1h 36m	$746K	$197K	25x
Short	OKX SOPH-USDT-SWAP	0.004499	0.0100	get 0.0050% / 4h	1h 36m	$999K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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

Position, each leg$Hold fordaysFee GatebpFee OKXbpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.012%: −$12.13
Slippage, 4 orders: −$264.92
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$302.05
Costs to cover: 2.899%
Break-even: never at this rate

Slippage from Gate: live order book, 45 min ago; OKX: 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 Gate live order book, 45 min ago	5.53 bp	116.8 bp −$117	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.11 bp	30.5 bp −$30	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	0.004502	−0.067%	$535K	$158K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004503	−0.050%	$5.4M	$5.7M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004506	+0.022%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAPshort	+0.0100%	4h	0.004499	−0.133%	$999K	$1.6M	10x
Gate SOPH_USDTlong	+0.0100%	4h	0.004505	long leg	$746K	$197K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004503	−0.044%	$1.0M	$175K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004508	+0.067%	$961K	$41K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004506	+0.022%	$663K	$226K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004504	−0.022%	—	$6.6M	—	as long as short