Funding arb · Price arb /

SOXS

RWAall SOXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h −0.023%

Price spread now: Phemex against Kraken Futures+0.078%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phemex is 0.078% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOXSUSD	35.672	−0.0119	get 0.0015% / 1h	10m 15s	$8K	$32K	20x
Short	Phemex SOXSUSDT	35.700	0	get 0.0000% / 8h	10m 15s	$1.2M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now +0.078%Rate

Funding earned: $25
Price spread: +0.078% → 0.000%: $7.83
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $10.83
Costs to cover: 0.220%
Break-even: 4.0 days

Slippage unknown: Kraken Futures: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.80 bp	40.2 bp −$40	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SOXS on 15 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
edgeX SOXSUSDC	−0.0445%	4h	35.710	+0.106%	$39K	$175K	10x	as long as short
Kraken Futures PF_SOXSUSDlong	−0.0119%	1h	35.672	long leg	$8K	$32K	20x
Bybit SOXSUSDT	0.0000%	8h	35.720	+0.134%	$4.2M	$11.5M	50x	as long as short
OKX SOXS-USDT-SWAP	0.0000%	8h	35.730	+0.162%	$2.7M	$21.5M	25x	as long as short
Gate SOXS_USDT	0.0000%	8h	35.720	+0.134%	$2.2M	$12.4M	25x	as long as short
Variational Omni SOXS	0.0000%	8h	35.791	+0.332%	$464K	$709K	—	as long as short
SunX SOXS-USDT	0.0000%	8h	35.710	+0.106%	—	$4.2M	10x	as long as short
HTX SOXS-USDT	0.0000%	8h	35.780	+0.303%	$13K	$27K	10x	as long as short
Phemex SOXSUSDTshort	0.0000%	8h	35.700	+0.078%	$1.2M	$1.9M	20x
Binance SOXSUSDT	+0.0004%	8h	35.699	+0.075%	$14.7M	$197.8M	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SOXS_USDT	+0.0006%	8h	35.690	+0.050%	$11.6M	$14.7M	50x	as long as short
BloFin SOXS-USDT	+0.0008%	8h	35.750	+0.218%	$178K	$63K	25x	as long as short
Lighter SOXS	+0.0032%	1h	35.679	+0.019%	—	—	10x	as long as short
KuCoin SOXSUSDTM	+0.0100%	8h	35.720	+0.134%	$693K	$2.8M	10x	as long as short
Bitget SOXSUSDT	+0.1863%	8h	35.684	+0.033%	$6.1M	$19.8M	20x	as long as short