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 −0.014%

Price spread now: KuCoin against Gate−0.067%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$748as in the Funding arb table

Net, price: spread back to 7d avg − costs−$664as in the Price arb table

costs, in and out, $10k−$6596.589% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.892%−$89 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.067%, 7d avg −0.016%

Together, before fees−0.850%−$85 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: KuCoin is 0.051% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004480	0.0100	pay 0.0050% / 4h	1h 28m	$729K	$165K	25x
Short	KuCoin SOPHUSDTM	0.004477	0.0100	get 0.0050% / 4h	1h 28m	$951K	$42K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.016%: −$5.11
Slippage, 4 orders: −$631.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$663.98
Costs to cover: 6.589%
Break-even: never at this rate

Slippage from Gate: live order book, 33 min ago; KuCoin: live order book, 26 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, 33 min ago	3.35 bp	87.4 bp −$87	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 26 min ago	7.82 bp	212.0 bp −$212	doesn't fit	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	0.004481	+0.022%	$524K	$164K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004474	−0.125%	$5.4M	$5.5M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004476	−0.089%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004474	−0.134%	$991K	$1.5M	10x	as long as short
Gate SOPH_USDTlong	+0.0100%	4h	0.004480	long leg	$729K	$165K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004479	−0.022%	$996K	$179K	20x	as long as short
KuCoin SOPHUSDTMshort	+0.0100%	4h	0.004477	−0.067%	$951K	$42K	30x
Bitget SOPHUSDT	+0.0100%	4h	0.004473	−0.156%	$646K	$229K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004480	0.000%	—	$6.5M	—	as long as short