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 0.000%

Price spread now: Binance against MEXC+0.042%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.042%, 7d avg 0.000%

Together, before fees−0.030%−$3 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 0.042% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SOPH_USDT	0.004478	0.0100	pay 0.0050% / 4h	3h 49m	$1.0M	$174K	20x
Short	Binance SOPHUSDT	0.004480	0.0100	get 0.0050% / 4h	3h 49m	$5.4M	$5.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → 0.000%: $4.2
Slippage, 4 orders: −$26.14
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.94
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Binance: live order book, 3 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 MEXC live order book, 6 min ago	1.12 bp	3.1 bp −$3	31.6 bp −$316	213.7 bp −$21.4K	546.1 bp −$273.1K
Sell Binance live order book, 3 min ago	1.11 bp	19.5 bp −$19	65.0 bp −$650	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	0.004478	0.000%	$531K	$161K	3x	as long as short
Binance SOPHUSDTshort	+0.0100%	4h	0.004480	+0.042%	$5.4M	$5.6M	25x
Bybit SOPHUSDT	+0.0100%	4h	0.004479	+0.022%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004476	−0.045%	$996K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004479	+0.022%	$739K	$164K	25x	as long as short
MEXC SOPH_USDTlong	+0.0100%	4h	0.004478	long leg	$1.0M	$174K	20x
KuCoin SOPHUSDTM	+0.0100%	4h	0.004473	−0.112%	$954K	$43K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004479	+0.022%	$655K	$231K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004478	0.000%	—	$6.6M	—	as long as short