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 +0.034%

Price spread now: BingX against Gate−0.090%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$334as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2082.077% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.261%−$126 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.090%, 7d avg +0.024%

Together, before fees−1.109%−$111 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 0.114% cheaper against Gate than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004441	0.0100	pay 0.0050% / 4h	41m 30s	$722K	$152K	25x
Short	BingX SOPH-USDT	0.004437	0.0100	get 0.0050% / 4h	41m 30s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → +0.024%: −$11.4
Slippage, 4 orders: −$182.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$219.13
Costs to cover: 2.077%
Break-even: never at this rate

Slippage from Gate: live order book, 15 min ago; BingX: live order book, 10 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 Gate live order book, 15 min ago	2.24 bp	79.9 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	3.38 bp	11.8 bp −$12	24.1 bp −$241	723.2 bp −$72.3K	1393.3 bp −$696.7K

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	0.004439	−0.045%	$517K	$163K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004437	−0.090%	$5.3M	$5.2M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004438	−0.068%	$1.8M	$1.0M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004438	−0.068%	$970K	$1.5M	10x	as long as short
Gate SOPH_USDTlong	+0.0100%	4h	0.004441	long leg	$722K	$152K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004437	−0.090%	$981K	$180K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004439	−0.045%	$943K	$41K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004436	−0.113%	$640K	$225K	25x	as long as short
BingX SOPH-USDTshort	+0.0100%	4h	0.004437	−0.090%	—	$6.6M	—