Funding arb · Price arb /

SOPH

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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 +0.039%

Price spread now: Bitget against Gate+0.067%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$360as in the Funding arb table

Net, price: spread back to 7d avg − costs−$252as in the Price arb table

costs, in and out, $10k−$2592.594% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−1.002%−$100 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.067%, 7d avg −0.006%

Together, before fees−1.025%−$102 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: Bitget is 0.073% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SOPH_USDT	0.004500	0.0100	pay 0.0050% / 4h	3h 58m	$744K	$162K	25x
Short	Bitget SOPHUSDT	0.004503	0.0100	get 0.0050% / 4h	3h 58m	$661K	$231K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → −0.006%: $7.27
Slippage, 4 orders: −$232.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$252.13
Costs to cover: 2.594%
Break-even: never at this rate

Slippage from Gate: live order book, 13 min ago; Bitget: live order book, 12 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, 13 min ago	4.45 bp	77.6 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 12 min ago	4.44 bp	35.8 bp −$36	283.2 bp −$2,832	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	0.004502	+0.044%	$533K	$161K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004502	+0.052%	$5.4M	$5.6M	25x	as long as short
Bybit SOPHUSDT	+0.0100%	4h	0.004503	+0.067%	$1.8M	$1.1M	25x	as long as short
OKX SOPH-USDT-SWAP	+0.0100%	4h	0.004500	0.000%	$1.0M	$1.5M	10x	as long as short
Gate SOPH_USDTlong	+0.0100%	4h	0.004500	long leg	$744K	$162K	25x
MEXC SOPH_USDT	+0.0100%	4h	0.004500	0.000%	$1.0M	$169K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004498	−0.044%	$960K	$42K	30x	as long as short
Bitget SOPHUSDTshort	+0.0100%	4h	0.004503	+0.067%	$661K	$231K	25x
BingX SOPH-USDT	+0.0100%	4h	0.004505	+0.111%	—	$6.6M	—	as long as short