Funding arb · Price arb /

CXMT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0816%/8h= −89.3% APRpaid last 24h −0.081%

Price spread now: Bitget against SoDEX+0.174%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on SoDEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.174%, 7d avg +0.125%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.049% dearer against SoDEX than usual: you sell high and buy low (spread +0.174% now, against its 7-day average of +0.125%): +$5 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 3 days (−0.101% in total) that is about 39 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.101% in total (about -11.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CXMT-USD	8.6310	−0.1658	get 0.0207% / 1h	44m 36s	$230K	$9K	5x
Short	Bitget CXMTUSDT	8.6460	−0.2474	pay 0.2474% / 8h	3h 44m	$603K	$822K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SoDEX. 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 SoDEXbpFee BitgetbpOrdersPrice spread, now +0.174%Rate

Funding earned: −$171.29
Price spread: +0.174% → +0.125%: $4.88
Slippage, 4 orders: −$76.89
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$263.31
Costs to cover: 0.969%
Break-even: never at this rate

Slippage from SoDEX: live order book, 9 min ago; Bitget: live order book, 6 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 SoDEX live order book, 9 min ago	1.56 bp	27.0 bp −$27	1456.9 bp −$14.6K	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	4.05 bp	22.4 bp −$22	42.6 bp −$426	doesn't fit	doesn't fit

CXMT on 16 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
Binance CXMTUSDT	−0.4461%	4h	8.6390	+0.093%	$4.5M	$8.8M	20x	as long as short
Bybit CXMTUSDT	−0.4364%	8h	8.6320	+0.012%	$1.0M	$1.1M	20x	as long as short
Ondo Perps CXMT-USD.P	−0.3485%	1h	8.6353	+0.050%	$29K	$33K	10x	as long as short
OKX CXMT-USDT-SWAP	−0.2751%	8h	8.6310	0.000%	$1.4M	$5.2M	20x	as long as short
tradeXYZ xyz:CXMT	−0.2612%	1h	8.6269	−0.048%	$56.3M	$9.1M	10x	as long as short
Polymarket Perps CXMT-USD	−0.2549%	1h	8.6296	−0.016%	$10K	$47K	10x	as long as short
Bitget CXMTUSDTshort	−0.2474%	8h	8.6460	+0.174%	$603K	$822K	20x
Gate CXMT_USDT	−0.2432%	1h	8.6280	−0.035%	$5.8M	$13.1M	50x	as long as short
Aster CXMTUSDT	−0.2054%	8h	8.6688	+0.438%	$139K	$100K	20x	as long as short
SoDEX CXMT-USDlong	−0.1658%	1h	8.6310	long leg	$230K	$9K	5x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CXMT	−0.1176%	1h	8.6365	+0.064%	$102K	$18K	5x	as long as short
ApeX Omni CXMTUSDT	−0.0570%	1h	8.6400	+0.104%	$8K	$250K	50x	as long as short
Popdex CXMTUSDT	−0.0336%	1h	8.6350	+0.046%	$1K	$115K	20x	as long as short
edgeX CXMTUSDC	−0.0094%	4h	8.6340	+0.035%	$437K	$242K	10x	as long as short
SunX CXMT-USDT	0.0000%	4h	8.6421	+0.129%	$85	$2.4M	10x	as long as short
HTX CXMT-USDT	0.0000%	4h	8.7055	+0.863%	$32K	$37K	10x	as long as short