Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.033%

Price spread now: Gate against OKX+0.044%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2572.567% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.529%+$153 on $10k

Price spread, last 4 days (all we have)+0.255%+$25 · spread now +0.044%, 7d avg +0.012%

Together, before fees+1.784%+$178 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: Gate is 0.032% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOPH-USDT-SWAP	0.004518	0.0100	pay 0.0050% / 4h	3h 36m	$995K	$1.6M	10x
Short	Gate SOPH_USDT	0.004520	0.0100	get 0.0050% / 4h	3h 36m	$748K	$201K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → +0.012%: $3.18
Slippage, 4 orders: −$231.74
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$253.55
Costs to cover: 2.567%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Gate: live order book, 10 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, 1 min ago	3.32 bp	32.6 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 10 min ago	7.76 bp	101.5 bp −$101	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	0.004517	−0.022%	$540K	$154K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004520	+0.044%	$5.4M	$5.9M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004522	+0.089%	$1.9M	$1.2M	25x	as long as short
OKX SOPH-USDT-SWAPlong	+0.0100%	4h	0.004518	long leg	$995K	$1.6M	10x
Gate SOPH_USDTshort	+0.0100%	4h	0.004520	+0.044%	$748K	$201K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004521	+0.066%	$1.0M	$173K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004518	0.000%	$960K	$44K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004520	+0.044%	$674K	$233K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004519	+0.022%	—	$6.6M	—	as long as short