Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 15.730 | +0.0897 | pay 0.0897% / 8h | 4h 09m | $949K | $1.2M | — | Long BingX | |
| SHORT | 15.670 | +0.0086 | get 0.0011% / 1h | 9m 48s | $218K | $22K | 10x | Short Paragon |
Price gap−0.381%52s
Funding gap−0.0811% /8h
Both sides work against this direction now: funding costs $24 a day on $10k and the gap is 0.037% under its 7d average. Swap the legs.
The two prices were read 52 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$13−0.0811% /8h now · paid −0.127% over the last 7D
Price—spread −0.381%52s now · prices read too far apart to compare
Costs−$1221.223% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.127% in total, about −0.0060%/8h on average.
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.381%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hSOFI on 10 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Thin at this size35.4 / 29.8 bpAt $10k entering BingX costs 35.4 bp, fee and slippage, 1.2× Paragon’s.
- Note: Margin at max leverage— + $1,000BingX —, Paragon 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$24.33Long BingX: 3 payments, −$26.91; short Paragon: 24 payments, +$2.58.
- Watch: Prices read 52 s apart−0.381% vs −0.344%Part of this gap may be the market moving.
- Watch: Short leg is thinner$218K vs $949K OIParagon sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBingX Yes · Paragon NoAdvanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0060%/8h × 21 periods−$12.66
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$110.46
Fee BingX bp × 2 orders−$10.00
Fee Paragon bp × 2 orders−$1.80
Net · 7 days · $10k−$134.92
price spread not counted: prices read too far apartCosts to cover1.223%Break-evennever at this rate
Slippage: BingX: live order book, 12 min ago; Paragon: live order book, 59 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX22.2935.4 bp−$3589.7 bp−$897495.3 bp−$49.5K1211.3 bp−$605.7K
SELL · SHORTParagon28.8929.8 bp−$30122.8 bp−$1,228doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-25 16:59 | Paragon | Other | SoFi opened crypto transfers to outside wallets, with bank custody and a fixed network fee. $SOFI trades 24/7 on Hyperliquid. Up to 10x leverage. Trade now on Hyperliquid: @tradeparagon on X ↗ |