Funding arb · Price arb /

SOXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1896%/8h= −207.6% APRpaid last 24h −0.216%

Price spread now: Bitget against Coinbase International+0.007%47s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$360.362% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.007%, 7d avg −0.025%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.032% dearer against Coinbase International than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.025%): +$3 on $10k if it goes back. Holding the pair costs −$57 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−0.042% in total) that is about 5.3 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SOXL-PERP-INTX	137.54	0.0208	pay 0.0026% / 1h	47m 24s	$928K	$3.0M	10x
Short	Bitget SOXLUSDT	137.55	−0.1688	pay 0.1688% / 8h	7h 47m	$58.9M	$144.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$398.16
Price spread: +0.007% → −0.025%: $3.19
Slippage, 4 orders: −$14.15
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$431.12
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Bitget: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 1 min ago	5.09 bp	10.1 bp −$10	13.6 bp −$136	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.36 bp	7.3 bp −$7	11.2 bp −$112	34.8 bp −$3,478	doesn't fit

SOXL on 28 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOXLUSDTshort	−0.1688%	8h	137.55	+0.007%	$58.9M	$144.3M	20x
Kraken Futures PF_SOXLUSD	−0.0121%	1h	137.46	−0.057%	$77K	$317K	20x	as long as short
BloFin SOXL-USDT	−0.0020%	8h	137.76	+0.160%	$1.3M	$468K	50x	as long as short
Aster SOXLUSDT	0.0000%	8h	137.52	−0.015%	$184K	$1.7M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	137.50	−0.026%	$71K	$364K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	137.57	+0.019%	$162.9M	$1.48B	50x	as long as short
Bybit SOXLUSDT	0.0000%	8h	137.63	+0.065%	$45.1M	$221.5M	100x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	137.53	−0.007%	$25.3M	$227.7M	20x	as long as short
Gate SOXL_USDT	0.0000%	8h	137.57	+0.022%	$27.6M	$50.2M	50x	as long as short
MEXC SOXL_USDT	0.0000%	8h	137.51	−0.022%	$20.1M	$56.4M	200x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SOXL	0.0000%	8h	137.89	+0.256%	$1.8M	$5.6M	—	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	137.65	+0.078%	$63K	$198K	10x	as long as short
SunX SOXL-USDT	0.0000%	8h	137.50	−0.029%	$1K	$4.0M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	137.28	−0.189%	$86K	$1.2M	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	137.55	+0.007%	$2.3M	$1.2M	10x	as long as short
tradeXYZ xyz:SOXL	+0.0004%	1h	137.38	−0.116%	$20.3M	$29.7M	10x	as long as short
QFEX SOXL-USD	+0.0022%	1h	137.57	+0.022%	$254K	$264K	30x	as long as short
Lighter SOXL	+0.0032%	1h	137.52	−0.015%	$668K	$2.4M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	137.49	−0.036%	$242K	$1.7M	20x	as long as short
Polymarket Perps SOXL-USD	+0.0050%	1h	137.50	−0.029%	$9K	$291K	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	137.37	−0.124%	$209K	$431K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	137.53	−0.007%	$6.4M	$10.8M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	137.66	+0.087%	$36K	$144K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	137.55	+0.007%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	137.56	+0.017%	$5K	—	10x	as long as short
Coinbase International SOXL-PERP-INTXlong	+0.0208%	1h	137.54	long leg	$928K	$3.0M	10x
Deribit SOXL_USDC-PERPETUAL	+0.0332%	1h	137.49	−0.036%	$109K	$387K	10x	as long as short
edgeX SOXLUSDC	+0.0565%	4h	137.65	+0.080%	$171K	$333K	10x	as long as short