Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: BingX against KuCoin+0.067%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$595as in the Funding arb table

Net, price: spread back to 7d avg − costs−$549as in the Price arb table

costs, in and out, $10k−$5525.520% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.427%−$43 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.067%, 7d avg +0.041%

Together, before fees−0.445%−$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: BingX is 0.026% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOPHUSDTM	0.004480	0.0100	pay 0.0050% / 4h	3h 52m	$951K	$38K	30x
Short	BingX SOPH-USDT	0.004483	0.0100	get 0.0050% / 4h	3h 52m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.041%: $2.63
Slippage, 4 orders: −$529.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$549.32
Costs to cover: 5.520%
Break-even: never at this rate

Slippage from KuCoin: live order book, 57 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 KuCoin live order book, 57 min ago	7.89 bp	309.4 bp −$309	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	4.47 bp	15.3 bp −$15	26.2 bp −$262	747.4 bp −$74.7K	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	0.004484	+0.089%	$521K	$158K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004482	+0.045%	$5.3M	$5.1M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004482	+0.045%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004485	+0.112%	$968K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004483	+0.067%	$727K	$148K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004485	+0.112%	$991K	$174K	20x	as long as short
KuCoin SOPHUSDTMlong	+0.0100%	4h	0.004480	long leg	$951K	$38K	30x
Bitget SOPHUSDT	+0.0100%	4h	0.004481	+0.022%	$645K	$217K	25x	as long as short
BingX SOPH-USDTshort	+0.0100%	4h	0.004483	+0.067%	—	$6.6M	—