Funding arb · Price arb /

SOXS

RWAall SOXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.034%

Price spread now: Kraken Futures against Phemex−0.103%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Kraken Futures

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 −$1 a day on $10k at the current rate, and Kraken Futures is 0.103% cheaper against Phemex than usual: you would sell low and buy high (−$10 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	Phemex SOXSUSDT	35.680	0	get 0.0000% / 8h	1h 24m	$1.2M	$1.9M	20x
Short	Kraken Futures PF_SOXSUSD	35.643	−0.0028	pay 0.0003% / 1h	24m 04s	$8K	$32K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$5.86
Price spread: −0.103% → 0.000%: −$10.28
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$38.14
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Kraken Futures: no order-book sample. 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 Phemex live order book, 4 min ago	6.98 bp	45.6 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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
edgeX SOXSUSDC	−0.0041%	4h	35.803	+0.345%	$39K	$175K	10x	as long as short
Kraken Futures PF_SOXSUSDshort	−0.0028%	1h	35.643	−0.103%	$8K	$32K	20x
Bybit SOXSUSDT	0.0000%	8h	35.680	0.000%	$4.2M	$11.4M	50x	as long as short
Gate SOXS_USDT	0.0000%	8h	35.700	+0.056%	$2.3M	$12.0M	25x	as long as short
SunX SOXS-USDT	0.0000%	8h	35.730	+0.140%	—	$4.3M	10x	as long as short
HTX SOXS-USDT	0.0000%	8h	35.870	+0.533%	$11K	$24K	10x	as long as short
Phemex SOXSUSDTlong	0.0000%	8h	35.680	long leg	$1.2M	$1.9M	20x
Lighter SOXS	+0.0032%	1h	35.655	−0.070%	—	—	10x	as long as short
OKX SOXS-USDT-SWAP	+0.0097%	8h	35.680	0.000%	$2.9M	$20.9M	25x	as long as short
Variational Omni SOXS	+0.0099%	8h	35.709	+0.081%	$465K	$714K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SOXSUSDT	+0.0137%	8h	35.694	+0.038%	$15.2M	$195.4M	25x	as long as short
MEXC SOXS_USDT	+0.0141%	8h	35.700	+0.056%	$12.6M	$14.3M	50x	as long as short
BloFin SOXS-USDT	+0.0171%	8h	35.770	+0.252%	$186K	$62K	25x	as long as short
KuCoin SOXSUSDTM	+0.0192%	8h	35.720	+0.112%	$696K	$2.8M	10x	as long as short
Bitget SOXSUSDT	+0.2343%	8h	35.655	−0.070%	$6.0M	$19.4M	20x	as long as short