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Funding arb · Price arb /

SOFI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0892%/8h= −97.6% APRnext payment −$8.92 per $10,000 · paid last 24h −0.111%
Price spread now: Bybit against Binance−0.085%7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$143as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1131.132% of the position
Long on BinanceShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.297%−$30 on $10k
Price spread, last 2 days (all we have)−0.047%−$5 · spread now −0.085%, 7d avg −0.097%
Together, before fees−0.344%−$34 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.097%, so right now this pair is about funding alone: −$27 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.297% in total (about -15.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.92 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance SOFIUSDT17.0340.0892pay 0.0892% / 8h2h 28m$1.6M$723K25x
ShortBybit SOFIUSDT17.0200get 0.0000% / 8h2h 28m$532K$870K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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

Funding earned
−$187.27
Price spread: −0.085% → −0.097%
$1.27
Slippage, 4 orders
−$92.23
Fee Binance: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$299.23
Costs to cover
1.132%
Break-even
never at this rate
Slippage from Binance: live order book, 4 min ago; Bybit: live order book, 56 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 4 min ago5.87 bp25.1 bp −$2573.5 bp −$735doesn't fitdoesn't fit
Sell Bybit live order book, 56 min ago8.81 bp45.5 bp −$46136.7 bp −$1,367doesn't fitdoesn't fit

SOFI on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit SOFIUSDTshort0.0000%8h17.020−0.085%$532K$870K25x
Gate SOFI_USDT0.0000%8h17.050+0.092%$137K$7K20xas long as short
Bitget SOFIUSDT0.0000%8h17.007−0.161%$482K$126K20xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080+0.268%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h16.979−0.325%$2K$3635xas long as short
Paragon para:SOFI+0.0060%1h16.980−0.319%$104K$48K10xas long as short
Lighter RH SOFI+0.0424%1h17.039+0.027%$29K$17K10xas long as short
edgeX SOFIUSDC+0.0582%4h17.039+0.028%$12K$245K10xas long as short
Binance SOFIUSDTlong+0.0892%8h17.034long leg$1.6M$723K25x