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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 01:00 UTC+0.0469%/8h= +51.4% APRpaid last 24h −0.010%
Price spread now: Paragon against Binance−0.012%52s7-day average −0.311% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1071.072% of the position
Long on BinanceShort on Paragon
What this pair did over the last
the charts below follow
Funding, last 7 days+0.429%+$43 on $10k
Price spread, last 2 days (all we have)−0.507%−$51 · spread now −0.012%, 7d avg −0.311%
Together, before fees−0.077%−$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Paragon is 0.299% dearer against Binance than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of −0.311%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance SOFIUSDT17.0400.1068pay 0.1068% / 8h7h 53m$1.6M$672K25x
ShortParagon para:SOFI17.0380.1538get 0.0192% / 1h53m 53s$104K$43K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paragon 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
$98.58
Price spread: −0.012% → −0.311%
$29.88
Slippage, 4 orders
−$87.2
Fee Binance: 5 bp × 2 orders
−$10
Fee Paragon: 5 bp × 2 orders
−$10
Net
$21.26
Costs to cover
1.072%
Break-even
5.5 days
Slippage from Binance: live order book, 10 min ago; Paragon: live order book, 1 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, 10 min ago2.93 bp20.5 bp −$2166.7 bp −$667doesn't fitdoesn't fit
Sell Paragon live order book, 1 min ago18.81 bp42.8 bp −$43170.7 bp −$1,707doesn'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
edgeX SOFIUSDC−0.0670%4h17.040+0.003%$12K$244K10xas long as short
Gate SOFI_USDT0.0000%8h17.030−0.059%$159K$13K20xas long as short
Bitget SOFIUSDT0.0000%8h17.019−0.123%$491K$130K20xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080+0.235%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h16.995−0.264%$2K$3635xas long as short
Lighter RH SOFI+0.0504%1h17.045+0.029%$30K$16K10xas long as short
Bybit SOFIUSDT+0.0644%8h17.0400.000%$533K$844K25xas long as short
Binance SOFIUSDTlong+0.1068%8h17.040long leg$1.6M$672K25x
Paragon para:SOFIshort+0.1538%1h17.038−0.012%$104K$43K10x