Funding arb · Price arb /

SOPH

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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 +0.003%

Price spread now: MEXC against KuCoin+0.112%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$575as in the Funding arb table

Net, price: spread back to 7d avg − costs−$526as in the Price arb table

costs, in and out, $10k−$5335.328% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.421%−$42 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.112%, 7d avg +0.039%

Together, before fees−0.482%−$48 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: MEXC is 0.072% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOPHUSDTM	0.004479	0.0100	pay 0.0050% / 4h	3h 48m	$951K	$38K	30x
Short	MEXC SOPH_USDT	0.004484	0.0100	get 0.0050% / 4h	3h 48m	$991K	$175K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → +0.039%: $7.23
Slippage, 4 orders: −$516.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$525.57
Costs to cover: 5.328%
Break-even: never at this rate

Slippage from KuCoin: live order book, 61 min ago; MEXC: live order book, 7 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, 61 min ago	7.89 bp	309.4 bp −$309	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 7 min ago	2.23 bp	4.2 bp −$4	32.3 bp −$323	211.8 bp −$21.2K	480.5 bp −$240.3K

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	0.004482	+0.067%	$521K	$158K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004486	+0.147%	$5.3M	$5.1M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004481	+0.045%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004487	+0.179%	$967K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004485	+0.134%	$728K	$149K	25x	as long as short
MEXC SOPH_USDTshort	+0.0100%	4h	0.004484	+0.112%	$991K	$175K	20x
KuCoin SOPHUSDTMlong	+0.0100%	4h	0.004479	long leg	$951K	$38K	30x
Bitget SOPHUSDT	+0.0100%	4h	0.004481	+0.045%	$645K	$217K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004484	+0.112%	—	$6.6M	—	as long as short