Funding arb · Price arb /

SOXS

RWAall SOXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0298%/8h= −32.7% APRpaid last 24h +0.006%

Price spread now: Kraken Futures against Phemex−0.120%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Kraken Futures

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 against this trade now: funding costs −$9 a day on $10k at the current rate, and Kraken Futures is 0.120% cheaper against Phemex than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOXSUSDT	34.740	0	get 0.0000% / 8h	38m 11s	$1.2M	$1.9M	20x
Short	Kraken Futures PF_SOXSUSD	34.698	−0.0298	pay 0.0037% / 1h	38m 11s	$8K	$32K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phemex. 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 PhemexbpFee Kraken FuturesbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$62.62
Price spread: −0.120% → 0.000%: −$12.04
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$96.66
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; Kraken Futures: no order-book sample. 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 Phemex live order book, 5 min ago	4.32 bp	41.2 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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	−0.0613%	4h	34.768	+0.082%	$38K	$183K	10x	as long as short
Kraken Futures PF_SOXSUSDshort	−0.0298%	1h	34.698	−0.120%	$8K	$32K	20x
BloFin SOXS-USDT	−0.0013%	8h	34.750	+0.029%	$162K	$56K	25x	as long as short
Binance SOXSUSDT	0.0000%	8h	34.749	+0.025%	$12.9M	$163.6M	25x	as long as short
Bybit SOXSUSDT	0.0000%	8h	34.750	+0.029%	$3.9M	$9.8M	50x	as long as short
OKX SOXS-USDT-SWAP	0.0000%	8h	34.750	+0.029%	$2.5M	$14.7M	25x	as long as short
Gate SOXS_USDT	0.0000%	8h	34.750	+0.029%	$2.0M	$8.6M	25x	as long as short
MEXC SOXS_USDT	0.0000%	8h	34.740	0.000%	$12.4M	$10.8M	50x	as long as short
Bitget SOXSUSDT	0.0000%	8h	34.746	+0.017%	$4.9M	$15.1M	20x	as long as short
Variational Omni SOXS	0.0000%	8h	34.761	+0.059%	$294K	$313K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SOXS-USDT	0.0000%	8h	34.740	0.000%	—	$4.8M	10x	as long as short
HTX SOXS-USDT	0.0000%	8h	34.780	+0.115%	$11K	$23K	10x	as long as short
Phemex SOXSUSDTlong	0.0000%	8h	34.740	long leg	$1.2M	$1.9M	20x
Lighter SOXS	+0.0032%	1h	34.735	−0.014%	—	—	10x	as long as short
KuCoin SOXSUSDTM	+0.0100%	8h	34.740	0.000%	$719K	$2.2M	10x	as long as short