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 +0.043%

Price spread now: Bitget against OKX−0.067%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1371.366% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.530%+$53 on $10k

Price spread, last 4 days (all we have)+0.516%+$52 · spread now −0.067%, 7d avg +0.007%

Together, before fees+1.046%+$105 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: Bitget is 0.074% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOPH-USDT-SWAP	0.004455	0.0100	pay 0.0050% / 4h	1h 06m	$986K	$1.5M	10x
Short	Bitget SOPHUSDT	0.004452	0.0100	get 0.0050% / 4h	1h 06m	$643K	$228K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.007%: −$7.42
Slippage, 4 orders: −$114.64
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$144.05
Costs to cover: 1.366%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Bitget: live order book, 54 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 OKX live order book, 6 min ago	1.12 bp	35.2 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 54 min ago	3.35 bp	37.1 bp −$37	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	0.004463	+0.180%	$520K	$163K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004456	+0.018%	$5.4M	$5.4M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004453	−0.045%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAPlong	+0.0100%	4h	0.004455	long leg	$986K	$1.5M	10x
Gate SOPH_USDT	+0.0100%	4h	0.004462	+0.157%	$726K	$166K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004459	+0.090%	$990K	$181K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004455	0.000%	$946K	$41K	30x	as long as short
Bitget SOPHUSDTshort	+0.0100%	4h	0.004452	−0.067%	$643K	$228K	25x
BingX SOPH-USDT	+0.0100%	4h	0.004455	0.000%	—	$6.6M	—	as long as short