Funding arb · Price arb /

SOPH

all SOPH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against OKX0.000%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.469%+$47 on $10k

Price spread, last 7 days+0.051%+$5 · spread now 0.000%, 7d avg +0.051%

Together, before fees+0.521%+$52 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 0.051% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOPH-USDT-SWAP	0.004470	0.0100	pay 0.0050% / 4h	3h 23m	$959K	$1.4M	10x
Short	Bybit SOPHUSDT	0.004470	0.0100	get 0.0050% / 4h	3h 23m	$1.8M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.051%: −$5.14
Slippage, 4 orders: −$69.31
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$95.45
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: 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 OKX live order book, 4 min ago	2.24 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.23 bp	15.2 bp −$15	97.2 bp −$972	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	0.004469	−0.022%	$520K	$157K	3x	as long as short
Binance SOPHUSDT	+0.0100%	4h	0.004471	+0.023%	$5.3M	$5.1M	25x	as long as short
Bybit SOPHUSDTshort	+0.0100%	4h	0.004470	0.000%	$1.8M	$1.1M	25x
OKX SOPH-USDT-SWAPlong	+0.0100%	4h	0.004470	long leg	$959K	$1.4M	10x
Gate SOPH_USDT	+0.0100%	4h	0.004471	+0.022%	$726K	$151K	25x	as long as short
MEXC SOPH_USDT	+0.0100%	4h	0.004472	+0.045%	$989K	$177K	20x	as long as short
KuCoin SOPHUSDTM	+0.0100%	4h	0.004470	0.000%	$949K	$38K	30x	as long as short
Bitget SOPHUSDT	+0.0100%	4h	0.004470	0.000%	$643K	$209K	25x	as long as short
BingX SOPH-USDT	+0.0100%	4h	0.004470	0.000%	—	$6.6M	—	as long as short