Funding arb · Price arb /

SOXS

RWAall SOXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0711%/8h= −77.9% APRpaid last 24h −0.031%

Price spread now: Phemex against Kraken Futures−0.052%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Phemex is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOXSUSD	34.968	0.0711	pay 0.0089% / 1h	37m 01s	$8K	$32K	20x
Short	Phemex SOXSUSDT	34.950	0	get 0.0000% / 8h	3h 37m	$1.2M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$149.33
Price spread: −0.052% → 0.000%: −$5.18
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$176.51
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Phemex: live order book, 1 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	8.56 bp	47.0 bp −$47	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: 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.

SOXS on 15 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
Gate SOXS_USDT	0.0000%	8h	34.950	−0.052%	$2.2M	$10.8M	25x	as long as short
Bitget SOXSUSDT	0.0000%	8h	34.953	−0.043%	$6.1M	$16.6M	20x	as long as short
SunX SOXS-USDT	0.0000%	8h	34.950	−0.052%	—	$4.3M	10x	as long as short
HTX SOXS-USDT	0.0000%	8h	34.990	+0.063%	$11K	$24K	10x	as long as short
Phemex SOXSUSDTshort	0.0000%	8h	34.950	−0.052%	$1.2M	$1.9M	20x
Lighter SOXS	+0.0032%	1h	34.920	−0.138%	—	—	10x	as long as short
Variational Omni SOXS	+0.0099%	8h	34.759	−0.598%	$442K	$619K	—	as long as short
MEXC SOXS_USDT	+0.0119%	8h	34.930	−0.109%	$10.8M	$12.8M	50x	as long as short
Binance SOXSUSDT	+0.0119%	8h	34.947	−0.062%	$15.1M	$177.5M	25x	as long as short
BloFin SOXS-USDT	+0.0121%	8h	34.960	−0.023%	$196K	$56K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SOXSUSDT	+0.0134%	8h	34.960	−0.023%	$4.3M	$10.7M	50x	as long as short
KuCoin SOXSUSDTM	+0.0311%	8h	34.960	−0.023%	$672K	$2.5M	10x	as long as short
OKX SOXS-USDT-SWAP	+0.0327%	8h	34.950	−0.052%	$3.2M	$18.3M	25x	as long as short
edgeX SOXSUSDC	+0.0435%	4h	34.954	−0.040%	$38K	$177K	10x	as long as short
Kraken Futures PF_SOXSUSDlong	+0.0711%	1h	34.968	long leg	$8K	$32K	20x