Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: BingX against Bitget−0.067%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1000.996% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.067%, 7d avg +0.032%

Together, before fees−0.335%−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.099% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOPHUSDT	0.004484	0.0100	pay 0.0050% / 4h	1h 33m	$647K	$228K	25x
Short	BingX SOPH-USDT	0.004481	0.0100	get 0.0050% / 4h	1h 33m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.032%: −$9.86
Slippage, 4 orders: −$77.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$109.44
Costs to cover: 0.996%
Break-even: never at this rate

Slippage from Bitget: live order book, 27 min ago; BingX: live order book, 3 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 Bitget live order book, 27 min ago	3.35 bp	35.3 bp −$35	253.0 bp −$2,530	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.47 bp	13.1 bp −$13	22.6 bp −$226	654.5 bp −$65.4K	1417.3 bp −$708.6K

SOPH on 9 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
Hyperliquid SOPH	+0.0100%	1h	0.004483	−0.022%	$524K	$164K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004482	−0.045%	$5.4M	$5.5M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004484	0.000%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004484	0.000%	$993K	$1.5M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004480	−0.089%	$729K	$164K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004481	−0.067%	$998K	$178K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004478	−0.134%	$951K	$42K	30x	as long as short
Bitget SOPHUSDTlong	+0.0100%	4h	0.004484	long leg	$647K	$228K	25x
BingX SOPH-USDTshort	+0.0100%	4h	0.004481	−0.067%	—	$6.5M	—