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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 08:00 UTC+0.0598%/8h= +65.4% APRnext payment +$5.98 per $10,000 · paid last 24h +0.217%
Price spread now: Binance against Bybit+0.038%7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$630.627% of the position
Long on BybitShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days+0.403%+$40 on $10k
Price spread, last 4 days (all we have)+0.258%+$26 · spread now +0.038%, 7d avg +0.074%
Together, before fees+0.661%+$66 on $10k · with fees, hour by hour
Funding pays, the price is against you. Binance is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread +0.038% now, against its 7-day average of +0.074%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.403% in total) that is about 15 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.403% in total (about 21.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.98 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
LongBybit SOFIUSDT17.0100.0082pay 0.0082% / 8h3h 00m$542K$853K25x
ShortBinance SOFIUSDT17.0160.0679get 0.0679% / 8h3h 00m$1.6M$715K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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
$125.5
Price spread: +0.038% → +0.074%
−$3.62
Slippage, 4 orders
−$41.72
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Binance: 5 bp × 2 orders
−$10
Net
$59.16
Costs to cover
0.627%
Break-even
3.7 days
Slippage from Bybit: live order book, 50 min ago; Binance: live order book, 3 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 Bybit live order book, 50 min ago2.94 bp13.7 bp −$14132.0 bp −$1,320doesn't fitdoesn't fit
Sell Binance live order book, 3 min ago2.94 bp13.4 bp −$1354.9 bp −$549doesn'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
Gate SOFI_USDT0.0000%8h16.997−0.076%$159K$13K20xas long as short
Bitget SOFIUSDT0.0000%8h16.993−0.100%$539K$150K20xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080+0.412%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h16.995−0.088%$2K$3635xas long as short
Lighter RH SOFI+0.0056%1h17.015+0.029%$31K$16K10xas long as short
Paragon para:SOFI+0.0060%1h16.975−0.206%$100K$44K10xas long as short
Bybit SOFIUSDTlong+0.0082%8h17.010long leg$542K$853K25x
edgeX SOFIUSDC+0.0420%4h17.011+0.008%$12K$245K10xas long as short
Binance SOFIUSDTshort+0.0679%8h17.016+0.038%$1.6M$715K25x