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 +0.007%

Price spread now: Binance against Gate−0.022%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$343as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2132.127% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.300%−$130 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.022%, 7d avg +0.020%

Together, before fees−1.307%−$131 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 0.043% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004465	0.0100	pay 0.0050% / 4h	2h 47m	$731K	$164K	25x
Short	Binance SOPHUSDT	0.004464	0.0100	get 0.0050% / 4h	2h 47m	$5.4M	$5.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.020%: −$4.26
Slippage, 4 orders: −$187.72
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$216.98
Costs to cover: 2.127%
Break-even: never at this rate

Slippage from Gate: live order book, 19 min ago; Binance: live order book, 6 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 Gate live order book, 19 min ago	4.45 bp	78.4 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.24 bp	23.0 bp −$23	84.1 bp −$841	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	0.004465	0.000%	$525K	$164K	3x	as long as short
Binance SOPHUSDTshort	+0.0100%	4h	0.004464	−0.022%	$5.4M	$5.4M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004462	−0.067%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004464	−0.022%	$987K	$1.5M	10x	as long as short
Gate SOPH_USDTlong	+0.0100%	4h	0.004465	long leg	$731K	$164K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004463	−0.045%	$1.0M	$178K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004460	−0.112%	$947K	$42K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004462	−0.067%	$647K	$227K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004465	0.000%	—	$6.6M	—	as long as short