Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: Bybit against Bitget0.000%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now 0.000%, 7d avg +0.042%

Together, before fees−0.194%−$19 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: Bybit is 0.042% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOPHUSDT	0.004519	0.0100	pay 0.0050% / 4h	49m 03s	$662K	$232K	25x
Short	Bybit SOPHUSDT	0.004519	0.0100	get 0.0050% / 4h	49m 03s	$1.8M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.042%: −$4.22
Slippage, 4 orders: −$79.74
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.96
Costs to cover: 1.027%
Break-even: never at this rate

Slippage from Bitget: live order book, 26 min ago; Bybit: live order book, 2 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, 26 min ago	2.22 bp	30.7 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.11 bp	19.1 bp −$19	97.7 bp −$977	doesn't fit	doesn't fit

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	0.004517	−0.044%	$536K	$160K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004519	0.000%	$5.4M	$5.7M	25x	as long as short
Bybit SOPHUSDTshort	+0.0100%	4h	0.004519	0.000%	$1.8M	$1.1M	25x
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004514	−0.111%	$1.0M	$1.6M	10x	as long as short
Gate SOPH_USDT	+0.0100%	4h	0.004518	−0.022%	$747K	$188K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004520	+0.022%	$1.0M	$173K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004518	−0.022%	$964K	$42K	30x	as long as short
Bitget SOPHUSDTlong	+0.0100%	4h	0.004519	long leg	$662K	$232K	25x
BingX SOPH-USDT	+0.0100%	4h	0.004520	+0.022%	—	$6.6M	—	as long as short