Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance+0.022%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.022%, 7d avg 0.000%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOPHUSDT	0.004497	0.0100	pay 0.0050% / 4h	2h 17m	$5.4M	$5.5M	25x
Short	MEXC SOPH_USDT	0.004498	0.0100	get 0.0050% / 4h	2h 17m	$1.0M	$181K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Binance. 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 BinancebpFee MEXCbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → 0.000%: $2.21
Slippage, 4 orders: −$27.65
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$39.44
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; MEXC: live order book, 4 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 Binance live order book, 6 min ago	1.11 bp	16.2 bp −$16	73.9 bp −$739	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.11 bp	5.3 bp −$5	29.2 bp −$292	199.5 bp −$20.0K	432.5 bp −$216.3K

SOPH on 9 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
Hyperliquid SOPH	+0.0100%	1h	0.004497	0.000%	$528K	$164K	3x	as long as short
Binance SOPHUSDTlong	+0.0100%	4h	0.004497	long leg	$5.4M	$5.5M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004501	+0.089%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004495	−0.044%	$997K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004500	+0.067%	$735K	$168K	25x	as long as short
MEXC SOPH_USDTshort	+0.0100%	4h	0.004498	+0.022%	$1.0M	$181K	20x
KuCoin SOPHUSDTM	+0.0100%	4h	0.004499	+0.044%	$956K	$42K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004502	+0.111%	$651K	$230K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004506	+0.200%	—	$6.6M	—	as long as short