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 −0.002%

Price spread now: Bitget against BingX0.000%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1000.995% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.327%+$33 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now 0.000%, 7d avg −0.032%

Together, before fees+0.352%+$35 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: Bitget is 0.032% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOPH-USDT	0.004442	0.0100	pay 0.0050% / 4h	42m 29s	—	$6.6M	—
Short	Bitget SOPHUSDT	0.004442	0.0100	get 0.0050% / 4h	42m 29s	$641K	$225K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.032%: $3.16
Slippage, 4 orders: −$77.51
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$96.35
Costs to cover: 0.995%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Bitget: live order book, 13 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, 9 min ago	3.38 bp	13.6 bp −$14	22.8 bp −$228	doesn't fit	doesn't fit
Sell Bitget live order book, 13 min ago	3.37 bp	38.3 bp −$38	353.6 bp −$3,536	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	0.004443	+0.023%	$517K	$163K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004442	0.000%	$5.3M	$5.2M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004443	+0.023%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004443	+0.023%	$971K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004445	+0.068%	$723K	$152K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004442	0.000%	$982K	$180K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004444	+0.045%	$944K	$41K	30x	as long as short
Bitget SOPHUSDTshort	+0.0100%	4h	0.004442	0.000%	$641K	$225K	25x
BingX SOPH-USDTlong	+0.0100%	4h	0.004442	long leg	—	$6.6M	—