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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 12:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.284%
Price spread now: Gate against Paragon+0.369%7-day average +0.201% · you sell dearer than you buy
Net, funding: paid 7d − costs−$324as in the Funding arb table
Net, price: spread back to 7d avg − costs−$212as in the Price arb table
costs, in and out, $10k−$2292.289% of the position
Long on ParagonShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days−0.951%−$95 on $10k
Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.369%, 7d avg +0.201%
Together, before fees−1.191%−$119 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.168% dearer against Paragon than usual: you sell high and buy low (spread +0.369% now, against its 7-day average of +0.201%): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.3 days. At the pace of the last 7 days (−0.951% in total) that is about 30 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParagon para:SOFI17.0950.0060pay 0.0008% / 1h8m 41s$101K$43K10x
ShortGate SOFI_USDT17.1580get 0.0000% / 8h4h 08m$169K$15K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate 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
−$12.6
Price spread: +0.369% → +0.201%
$16.77
Slippage, 4 orders
−$203.92
Fee Paragon: 5 bp × 2 orders
−$10
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$224.74
Costs to cover
2.289%
Break-even
never at this rate
Slippage from Paragon: live order book, 20 min ago; Gate: live order book, 26 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, 20 min ago29.24 bp34.2 bp −$34112.5 bp −$1,125doesn't fitdoesn't fit
Sell Gate live order book, 26 min ago27.80 bp51.3 bp −$51doesn't fitdoesn't fitdoesn't fit

SOFI on 9 exchanges

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%8h17.120+0.146%$544K$709K25xas long as short
Gate SOFI_USDTshort0.0000%8h17.158+0.369%$169K$15K20x
Bitget SOFIUSDT0.0000%8h17.118+0.135%$642K$197K20xas long as short
Injective SOFI/USDC PERP+0.0033%1h17.080−0.088%$16K$20K5.5xas long as short
Extended SOFI-USD+0.0040%1h17.093−0.014%$1K$7285xas long as short
Paragon para:SOFIlong+0.0060%1h17.095long leg$101K$43K10x
Lighter RH SOFI+0.0088%1h17.140+0.263%$39K$25K10xas long as short
edgeX SOFIUSDC+0.0370%4h17.144+0.288%$13K$243K10xas long as short
Binance SOFIUSDT+0.0962%8h17.145+0.293%$1.7M$784K25xas long as short