Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Binance against KuCoin0.000%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$600as in the Funding arb table

Net, price: spread back to 7d avg − costs−$562as in the Price arb table

costs, in and out, $10k−$5595.587% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.410%−$41 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now 0.000%, 7d avg +0.038%

Together, before fees−0.450%−$45 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 0.038% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOPHUSDTM	0.004406	0.0100	pay 0.0050% / 4h	2h 26m	$937K	$38K	30x
Short	Binance SOPHUSDT	0.004406	0.0100	get 0.0050% / 4h	2h 26m	$5.2M	$5.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.038%: −$3.76
Slippage, 4 orders: −$536.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$562.49
Costs to cover: 5.587%
Break-even: never at this rate

Slippage from KuCoin: live order book, 13 min ago; Binance: live order book, 11 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 KuCoin live order book, 13 min ago	9.00 bp	311.3 bp −$311	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	1.12 bp	17.0 bp −$17	68.7 bp −$687	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	0.004406	0.000%	$510K	$159K	3x	as long as short
Binance SOPHUSDTshort	+0.0100%	4h	0.004406	0.000%	$5.2M	$5.0M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004405	−0.023%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004405	−0.023%	$960K	$1.4M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004412	+0.136%	$715K	$154K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004405	−0.023%	$965K	$175K	20x	as long as short
KuCoin SOPHUSDTMlong	+0.0100%	4h	0.004406	long leg	$937K	$38K	30x
Bitget SOPHUSDT	+0.0100%	4h	0.004391	−0.340%	$627K	$200K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004395	−0.250%	—	$6.6M	—	as long as short