Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.064%

Price spread now: Binance against BingX+0.024%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.024%, 7d avg −0.007%

Together, before fees−0.137%−$14 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: Binance is 0.030% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOPH-USDT	0.004502	0.0100	pay 0.0050% / 4h	2h 03m	—	$6.6M	—
Short	Binance SOPHUSDT	0.004503	0.0100	get 0.0050% / 4h	2h 03m	$5.4M	$5.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → −0.007%: $3.02
Slippage, 4 orders: −$49.88
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.86
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Binance: 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 BingX live order book, 3 min ago	5.55 bp	14.1 bp −$14	22.0 bp −$220	778.7 bp −$77.9K	doesn't fit
Sell Binance live order book, 4 min ago	2.22 bp	21.3 bp −$21	73.9 bp −$739	doesn't fit	doesn't fit

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	0.004503	+0.022%	$536K	$159K	3x	as long as short
Binance SOPHUSDTshort	+0.0100%	4h	0.004503	+0.024%	$5.4M	$5.7M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004503	+0.022%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004499	−0.067%	$998K	$1.6M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004502	0.000%	$745K	$198K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004503	+0.022%	$1.0M	$177K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004503	+0.022%	$960K	$42K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004503	+0.022%	$662K	$227K	25x	as long as short
BingX SOPH-USDTlong	+0.0100%	4h	0.004502	long leg	—	$6.6M	—