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 +0.006%

Price spread now: MEXC against OKX−0.023%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.023%, 7d avg +0.016%

Together, before fees+0.191%+$19 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 0.039% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOPH-USDT-SWAP	0.004433	0.0100	pay 0.0050% / 4h	2h 12m	$967K	$1.4M	10x
Short	MEXC SOPH_USDT	0.004432	0.0100	get 0.0050% / 4h	2h 12m	$964K	$177K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.016%: −$3.87
Slippage, 4 orders: −$35.36
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$53.22
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; MEXC: live order book, 38 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, 4 min ago	1.13 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 38 min ago	1.11 bp	3.1 bp −$3	18.8 bp −$188	185.6 bp −$18.6K	527.7 bp −$263.9K

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	0.004434	+0.023%	$512K	$161K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004433	0.000%	$5.2M	$5.1M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004435	+0.045%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAPlong	+0.0100%	4h	0.004433	long leg	$967K	$1.4M	10x
Gate SOPH_USDT	+0.0100%	4h	0.004430	−0.068%	$716K	$157K	25x	as long as short
MEXC SOPH_USDTshort	+0.0100%	4h	0.004432	−0.023%	$964K	$177K	20x
KuCoin SOPHUSDTM	+0.0100%	4h	0.004423	−0.226%	$940K	$39K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004430	−0.068%	$635K	$204K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004433	0.000%	—	$6.5M	—	as long as short