Funding arb · Price arb /

SOXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0081%/8hnext payment +$0.81 per $10,000 · paid last 24h −0.182%

Price spread now: Bitget against Phemex−0.068%7-day average +0.062% · you buy dearer than you sell

to open and close $10k−$119fees + slippage, both legs, in and out

costs, in % of the position1.187%what the two incomes have to cover

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.606%−$61 on $10k

Price spread, last 3 days (all we have)+0.075%+$7 · spread now −0.068%, 7d avg +0.062%

Together, before fees−0.531%−$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.130% cheaper against Phemex than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.062%). If the spread goes back, that is −$13 on $10k: about 5.3 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.606%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOXSUSDT	35.540	0	get 0.0000% / 8h	4h 48m	$1.2M	$1.7M	20x
Short	Bitget SOXSUSDT	35.516	0.0081	get 0.0081% / 8h	4h 48m	$5.6M	$14.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.068%Rate

Funding earned: $17.01
Price spread: −0.068% → +0.062%: −$12.98
Slippage, 4 orders: −$94.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$114.66
Costs to cover: 1.187%
Break-even: 54.2 days

Slippage from Phemex: live order book, 4 min ago; Bitget: live order book, 4 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 Phemex live order book, 4 min ago	2.82 bp	50.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.41 bp	10.6 bp −$11	23.3 bp −$233	doesn't fit	doesn't fit

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
Kraken Futures PF_SOXSUSD	−0.0659%	1h	35.524	−0.045%	$11K	$11K	20x	as long as short
BloFin SOXS-USDT	−0.0003%	8h	35.510	−0.084%	$169K	$48K	25x	as long as short
Binance SOXSUSDT	0.0000%	8h	35.500	−0.113%	$13.3M	$150.1M	25x	as long as short
Bybit SOXSUSDT	0.0000%	8h	35.520	−0.056%	$4.2M	$9.4M	50x	as long as short
Gate SOXS_USDT	0.0000%	8h	35.490	−0.141%	$1.9M	$8.5M	25x	as long as short
MEXC SOXS_USDT	0.0000%	8h	35.490	−0.141%	$11.9M	$9.0M	50x	as long as short
Variational Omni SOXS	0.0000%	8h	35.464	−0.213%	$315K	$266K	—	as long as short
SunX SOXS-USDT	0.0000%	8h	35.540	0.000%	—	$4.9M	10x	as long as short
HTX SOXS-USDT	0.0000%	8h	35.500	−0.113%	$12K	$23K	10x	as long as short
Phemex SOXSUSDTlong	0.0000%	8h	35.540	long leg	$1.2M	$1.7M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SOXS-USDT-SWAP	+0.0004%	8h	35.500	−0.113%	$2.5M	$12.4M	25x	as long as short
Lighter SOXS	+0.0032%	1h	35.475	−0.183%	—	—	10x	as long as short
Bitget SOXSUSDTshort	+0.0081%	8h	35.516	−0.068%	$5.6M	$14.6M	20x
KuCoin SOXSUSDTM	+0.0100%	8h	35.490	−0.141%	$734K	$1.8M	10x	as long as short
edgeX SOXSUSDC	+0.0327%	4h	35.452	−0.247%	$38K	$190K	10x	as long as short