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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 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.160%
Price spread now: Paragon against Bybit−0.264%53s7-day average −0.257% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as 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−$950.949% of the position
Long on BybitShort on Paragon
What this pair did over the last
the charts below follow
Funding, last 7 days+0.816%+$82 on $10k
Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.264%, 7d avg −0.257%
Together, before fees+0.939%+$94 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.257%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit SOFIUSDT17.0300.0018pay 0.0018% / 8h3h 48m$543K$841K25x
ShortParagon para:SOFI16.9850.0060get 0.0008% / 1h48m 54s$100K$44K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paragon 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
$8.79
Price spread: −0.264% → −0.257%
−$0.71
Slippage, 4 orders
−$73.92
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Paragon: 5 bp × 2 orders
−$10
Net
−$86.84
Costs to cover
0.949%
Break-even
76.1 days
Slippage from Bybit: live order book, 1 min ago; Paragon: live order book, 36 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, 1 min ago2.94 bp13.7 bp −$14132.0 bp −$1,320doesn't fitdoesn't fit
Sell Paragon live order book, 36 min ago28.52 bp33.5 bp −$34147.6 bp −$1,476doesn'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%8h17.023−0.041%$159K$13K20xas long as short
Bitget SOFIUSDT0.0000%8h16.999−0.182%$539K$154K20xas long as short
Bybit SOFIUSDTlong+0.0018%8h17.030long leg$543K$841K25x
Lighter RH SOFI+0.0032%1h17.024−0.035%$31K$16K10xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080+0.294%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h16.995−0.206%$2K$3635xas long as short
Paragon para:SOFIshort+0.0060%1h16.985−0.264%$100K$44K10x
edgeX SOFIUSDC+0.0246%4h17.014−0.095%$12K$244K10xas long as short
Binance SOFIUSDT+0.0785%8h17.010−0.117%$1.6M$716K25xas long as short