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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 09:00 UTC−2.8779%/8h= −3151.3% APRpaid last 24h −0.017%
Price spread now: edgeX against Paragon+0.330%7-day average +0.303% · you sell dearer than you buy
Net, funding: paid 7d − costs−$254as in the Funding arb table
Net, price: spread back to 7d avg − costs−$145as in the Price arb table
costs, in and out, $10k−$1471.473% of the position
Long on ParagonShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days−1.071%−$107 on $10k
Price spread, last 4 days (all we have)−0.163%−$16 · spread now +0.330%, 7d avg +0.303%
Together, before fees−1.234%+ Points / potential airdropedgeX: Active · farm board−$123 on $10k · with fees, hour by hour
The price spread pays, funding is against you. edgeX is 0.028% dearer against Paragon than usual: you sell high and buy low (spread +0.330% now, against its 7-day average of +0.303%): +$3 on $10k if it goes back. Holding the pair costs −$863 a day in funding at the current rate, which eats that in about under an hour. At the pace of the last 7 days (−1.071% in total) that is about 4 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.071% in total (about -55.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParagon para:SOFI16.9282.8827pay 0.3603% / 1h43m 20s$100K$44K10x
ShortedgeX SOFIUSDC16.9840.0049get 0.0024% / 4h3h 43m$12K$246K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Paragon. 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
−$6,043.55
Price spread: +0.330% → +0.303%
$2.76
Slippage, 4 orders
−$128.32
Fee Paragon: 5 bp × 2 orders
−$10
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$6,188.11
Costs to cover
1.473%
Break-even
never at this rate
Slippage from Paragon: live order book, 72 min ago; edgeX: live order book, 54 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 Paragon live order book, 72 min ago28.89 bp33.9 bp −$34149.3 bp −$1,493doesn't fitdoesn't fit
Sell edgeX live order book, 54 min ago14.71 bp38.2 bp −$38doesn't fitdoesn'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 SOFIUSDT0.0000%8h16.960+0.191%$566K$791K25xas long as short
Gate SOFI_USDT0.0000%8h16.986+0.345%$168K$15K20xas long as short
Bitget SOFIUSDT0.0000%8h16.953+0.150%$603K$183K20xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080+0.900%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h16.930+0.014%$2K$3635xas long as short
edgeX SOFIUSDCshort+0.0049%4h16.984+0.330%$12K$246K10x
Lighter RH SOFI+0.0560%1h16.982+0.321%$39K$25K10xas long as short
Binance SOFIUSDT+0.0742%8h16.990+0.369%$1.7M$778K25xas long as short
Paragon para:SOFIlong+2.8827%1h16.928long leg$100K$44K10x