Funding arb · Price arb /

SOXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0369%/8h= +40.5% APRpaid last 24h −0.004%

Price spread now: Bybit against Ondo Perps+0.034%7-day average +0.080% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 4 days (all we have)+0.115%+$12 · spread now +0.034%, 7d avg +0.080%

Together, before fees+0.207%+ Points / potential airdropOndo Perps: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.046% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.034% now, against its 7-day average of +0.080%). If the spread goes back, that is −$5 on $10k: about 10 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.092% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.092% in total (about 4.8% 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	Ondo Perps SOXL-USD.P	146.56	0.0053	pay 0.0007% / 1h	45m 38s	$242K	$768K	10x
Short	Bybit SOXLUSDT	146.61	0.0422	get 0.0422% / 8h	7h 45m	$52.7M	$179.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BybitbpOrdersPrice spread, now +0.034%Rate

Funding earned: $77.58
Price spread: +0.034% → +0.080%: −$4.58
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $57
Costs to cover: 0.160%
Break-even: 1.9 days

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.34 bp	6.8 bp −$7	11.5 bp −$115	89.1 bp −$8,906	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SOXL on 28 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
Aster SOXLUSDT	0.0000%	8h	146.38	−0.124%	$217K	$1.6M	50x	as long as short
Gate SOXL_USDT	0.0000%	8h	146.61	+0.034%	$28.1M	$38.5M	50x	as long as short
SunX SOXL-USDT	0.0000%	8h	146.61	+0.034%	$1K	$4.6M	10x	as long as short
Phemex SOXLUSDT	0.0000%	8h	146.63	+0.048%	$2.5M	$1.2M	10x	as long as short
Lighter SOXL	+0.0032%	1h	146.55	−0.007%	$813K	$2.6M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	146.59	+0.020%	$347K	$1.8M	20x	as long as short
Ondo Perps SOXL-USD.Plong	+0.0053%	1h	146.56	long leg	$242K	$768K	10x
OKX SOXL-USDT-SWAP	+0.0067%	8h	146.63	+0.048%	$25.7M	$185.9M	20x	as long as short
QFEX SOXL-USD	+0.0070%	1h	146.67	+0.075%	$271K	$271K	30x	as long as short
Variational Omni SOXL	+0.0070%	8h	146.70	+0.097%	$2.3M	$5.0M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SOXL-USDT	+0.0089%	8h	146.82	+0.177%	$1.2M	$495K	50x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	146.46	−0.068%	$7.0M	$10.6M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	146.40	−0.109%	$38K	$142K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	146.64	+0.055%	$1K	$5K	20x	as long as short
MEXC SOXL_USDT	+0.0103%	8h	146.59	+0.020%	$13.9M	$46.9M	200x	as long as short
Extended SOXL-USD	+0.0104%	1h	146.58	+0.013%	$25K	$318K	10x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	146.59	+0.023%	$6K	—	10x	as long as short
Binance SOXLUSDT	+0.0109%	8h	146.59	+0.020%	$173.5M	$1.20B	50x	as long as short
Bitget SOXLUSDT	+0.0129%	8h	146.64	+0.055%	$62.2M	$109.8M	20x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0208%	1h	146.68	+0.082%	$1.1M	$2.2M	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0296%	1h	146.64	+0.055%	$119K	$276K	10x	as long as short
HTX SOXL-USDT	+0.0296%	8h	146.80	+0.164%	$185K	$592K	50x	as long as short
edgeX SOXLUSDC	+0.0377%	4h	146.33	−0.155%	$182K	$322K	10x	as long as short
Bybit SOXLUSDTshort	+0.0422%	8h	146.61	+0.034%	$52.7M	$179.2M	100x
Kraken Futures PF_SOXLUSD	+0.0425%	1h	146.50	−0.044%	$89K	$309K	20x	as long as short
tradeXYZ xyz:SOXL	+0.0516%	1h	146.53	−0.020%	$26.7M	$20.9M	10x	as long as short
GRVT SOXL_USDT_Perp	+0.0878%	8h	146.31	−0.171%	$72K	$160K	10x	as long as short
Polymarket Perps SOXL-USD	+0.0967%	1h	146.74	+0.123%	$5K	$266K	10x	as long as short