Funding arb · Price arb /

SOXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0541%/8h= −59.2% APRpaid last 24h −0.042%

Price spread now: Gate against Deribit+0.036%51s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.462% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.129%−$13 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.036%, 7d avg −0.002%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.038% dearer against Deribit than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.002%): +$4 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 4 days (−0.129% in total) that is about 29 hours. The two prices were read 51 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 4 days it paid -0.129% in total (about -11.6% 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	Deribit SOXL_USDC-PERPETUAL	139.18	0.0541	pay 0.0068% / 1h	58m 30s	$111K	$386K	10x
Short	Gate SOXL_USDT	139.23	0	get 0.0000% / 8h	6h 58m	$29.8M	$54.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now +0.036%Rate

Funding earned: −$113.6
Price spread: +0.036% → −0.002%: $3.8
Slippage, 4 orders: −$24.23
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$156.04
Costs to cover: 0.462%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; Gate: live order book, 5 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 Deribit live order book, 35 min ago	7.70 bp	11.2 bp −$11	14.5 bp −$145	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.36 bp	9.0 bp −$9	17.2 bp −$172	30.9 bp −$3,088	42.9 bp −$21.5K

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 SOXLUSDT	−0.1104%	8h	139.38	+0.144%	$58.8M	$151.5M	20x	as long as short
BloFin SOXL-USDT	−0.0019%	8h	139.11	−0.050%	$1.3M	$502K	50x	as long as short
Aster SOXLUSDT	0.0000%	8h	139.04	−0.103%	$189K	$1.6M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	139.19	+0.008%	$42K	$380K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	139.24	+0.043%	$158.6M	$1.56B	50x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	139.20	+0.014%	$26.5M	$244.2M	20x	as long as short
Gate SOXL_USDTshort	0.0000%	8h	139.23	+0.036%	$29.8M	$54.6M	50x
MEXC SOXL_USDT	0.0000%	8h	139.33	+0.108%	$12.2M	$56.4M	200x	as long as short
Variational Omni SOXL	0.0000%	8h	138.80	−0.274%	$1.9M	$5.6M	—	as long as short
SunX SOXL-USDT	0.0000%	8h	139.17	−0.007%	$1K	$3.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOXL-USDT	0.0000%	8h	139.11	−0.050%	$87K	$1.2M	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	139.10	−0.057%	$2.3M	$1.2M	10x	as long as short
QFEX SOXL-USD	+0.0022%	1h	139.19	+0.007%	$257K	$264K	30x	as long as short
Lighter RH SOXL	+0.0032%	1h	139.22	+0.029%	$256K	$1.7M	20x	as long as short
Polymarket Perps SOXL-USD	+0.0050%	1h	139.32	+0.101%	$9K	$291K	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	138.92	−0.187%	$217K	$396K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	139.15	−0.022%	$6.4M	$10.5M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	138.78	−0.287%	$36K	$144K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	139.18	0.000%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	139.12	−0.044%	$5K	—	10x	as long as short
tradeXYZ xyz:SOXL	+0.0114%	1h	139.27	+0.065%	$21.6M	$32.3M	10x	as long as short
Lighter SOXL	+0.0192%	1h	139.21	+0.022%	$660K	$2.6M	20x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0240%	1h	138.98	−0.144%	$981K	$3.2M	10x	as long as short
Bybit SOXLUSDT	+0.0248%	8h	139.25	+0.050%	$46.6M	$225.6M	100x	as long as short
GRVT SOXL_USDT_Perp	+0.0396%	8h	138.77	−0.295%	$64K	$194K	10x	as long as short
Deribit SOXL_USDC-PERPETUALlong	+0.0541%	1h	139.18	long leg	$111K	$386K	10x
edgeX SOXLUSDC	+0.0904%	4h	138.98	−0.146%	$173K	$334K	10x	as long as short
Kraken Futures PF_SOXLUSD	+0.0970%	1h	139.12	−0.041%	$88K	$342K	20x	as long as short