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 +0.071%

Price spread now: Bitget against OKX+0.044%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1571.574% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.527%+$53 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now +0.044%, 7d avg +0.006%

Together, before fees+0.707%+$71 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: Bitget is 0.039% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOPH-USDT-SWAP	0.004506	0.0100	pay 0.0050% / 4h	2h 35m	$996K	$1.6M	10x
Short	Bitget SOPHUSDT	0.004508	0.0100	get 0.0050% / 4h	2h 35m	$665K	$229K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → +0.006%: $3.85
Slippage, 4 orders: −$135.43
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$153.58
Costs to cover: 1.574%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bitget: live order book, 50 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 OKX live order book, 2 min ago	4.44 bp	38.1 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 50 min ago	5.54 bp	34.2 bp −$34	377.4 bp −$3,774	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	0.004509	+0.067%	$537K	$158K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004509	+0.072%	$5.4M	$5.7M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004511	+0.111%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAPlong	+0.0100%	4h	0.004506	long leg	$996K	$1.6M	10x
Gate SOPH_USDT	+0.0100%	4h	0.004509	+0.067%	$746K	$197K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004508	+0.044%	$1.0M	$172K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004505	−0.022%	$960K	$42K	30x	as long as short
Bitget SOPHUSDTshort	+0.0100%	4h	0.004508	+0.044%	$665K	$229K	25x
BingX SOPH-USDT	+0.0100%	4h	0.004507	+0.022%	—	$6.6M	—	as long as short