Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0368%/8h= −40.3% APRpaid last 24h −0.036%

Price spread now: SunX against Deribit−0.021%7-day average +0.026% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$920.918% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.021%, 7d avg +0.026%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and SunX is 0.047% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.006% in total (about -0.5% 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	145.78	0.0368	pay 0.0046% / 1h	51m 12s	$119K	$276K	10x
Short	SunX SOXL-USDT	145.75	0	get 0.0000% / 8h	7h 51m	$1K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$77.23
Price spread: −0.021% → +0.026%: −$4.68
Slippage, 4 orders: −$76.85
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$173.76
Costs to cover: 0.918%
Break-even: never at this rate

Slippage from Deribit: live order book, 22 min ago; SunX: live order book, 7 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, 22 min ago	0.35 bp	17.0 bp −$17	21.1 bp −$211	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	15.18 bp	19.2 bp −$19	48.7 bp −$487	doesn't fit	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
Aster SOXLUSDT	0.0000%	8h	145.54	−0.165%	$214K	$1.6M	50x	as long as short
Gate SOXL_USDT	0.0000%	8h	145.72	−0.041%	$28.2M	$38.0M	50x	as long as short
Bitget SOXLUSDT	0.0000%	8h	145.66	−0.082%	$61.4M	$108.9M	20x	as long as short
SunX SOXL-USDTshort	0.0000%	8h	145.75	−0.021%	$1K	$4.6M	10x
Phemex SOXLUSDT	0.0000%	8h	145.71	−0.048%	$2.5M	$1.2M	10x	as long as short
Lighter RH SOXL	+0.0032%	1h	145.70	−0.055%	$344K	$1.8M	20x	as long as short
Variational Omni SOXL	+0.0043%	8h	145.75	−0.019%	$2.2M	$5.0M	—	as long as short
OKX SOXL-USDT-SWAP	+0.0054%	8h	145.67	−0.075%	$25.7M	$183.6M	20x	as long as short
BloFin SOXL-USDT	+0.0062%	8h	145.75	−0.021%	$1.2M	$488K	50x	as long as short
QFEX SOXL-USD	+0.0070%	1h	145.72	−0.041%	$269K	$272K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SOXL_USDT	+0.0073%	8h	145.70	−0.055%	$14.4M	$46.7M	200x	as long as short
Lighter SOXL	+0.0080%	1h	145.68	−0.069%	$810K	$2.5M	20x	as long as short
Extended SOXL-USD	+0.0080%	1h	145.75	−0.021%	$25K	$318K	10x	as long as short
Binance SOXLUSDT	+0.0081%	8h	145.69	−0.062%	$175.3M	$1.19B	50x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	145.62	−0.110%	$6.9M	$10.6M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	145.28	−0.343%	$38K	$142K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	145.72	−0.041%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	145.40	−0.259%	$6K	—	10x	as long as short
HTX SOXL-USDT	+0.0158%	8h	145.79	+0.007%	$183K	$591K	50x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0208%	1h	145.27	−0.350%	$1.1M	$2.2M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0222%	1h	144.91	−0.597%	$240K	$804K	10x	as long as short
Deribit SOXL_USDC-PERPETUALlong	+0.0368%	1h	145.78	long leg	$119K	$276K	10x
Kraken Futures PF_SOXLUSD	+0.0427%	1h	145.62	−0.110%	$89K	$301K	20x	as long as short
Bybit SOXLUSDT	+0.0609%	8h	145.75	−0.021%	$52.6M	$178.5M	100x	as long as short
GRVT SOXL_USDT_Perp	+0.0649%	8h	145.24	−0.369%	$71K	$157K	10x	as long as short
edgeX SOXLUSDC	+0.0699%	4h	145.28	−0.342%	$181K	$321K	10x	as long as short
tradeXYZ xyz:SOXL	+0.0825%	1h	145.70	−0.055%	$26.6M	$20.7M	10x	as long as short
Polymarket Perps SOXL-USD	+0.1294%	1h	145.81	+0.021%	$5K	$266K	10x	as long as short