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 +0.006%

Price spread now: MEXC against Gate0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$312as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1811.810% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−1.313%−$131 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now 0.000%, 7d avg +0.022%

Together, before fees−1.214%−$121 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% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004484	0.0100	pay 0.0050% / 4h	1h 29m	$730K	$164K	25x
Short	MEXC SOPH_USDT	0.004484	0.0100	get 0.0050% / 4h	1h 29m	$997K	$179K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.022%: −$2.24
Slippage, 4 orders: −$161.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$183.2
Costs to cover: 1.810%
Break-even: never at this rate

Slippage from Gate: live order book, 32 min ago; MEXC: live order book, 7 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, 32 min ago	3.35 bp	87.4 bp −$87	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 7 min ago	1.12 bp	3.1 bp −$3	19.7 bp −$197	192.2 bp −$19.2K	447.7 bp −$223.8K

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	0.004485	+0.022%	$525K	$164K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004484	0.000%	$5.4M	$5.5M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004486	+0.045%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004483	−0.022%	$993K	$1.5M	10x	as long as short
Gate SOPH_USDTlong	+0.0100%	4h	0.004484	long leg	$730K	$164K	25x
MEXC SOPH_USDTshort	+0.0100%	4h	0.004484	0.000%	$997K	$179K	20x
KuCoin SOPHUSDTM	+0.0100%	4h	0.004479	−0.112%	$952K	$42K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004485	+0.022%	$648K	$230K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004484	0.000%	—	$6.6M	—	as long as short