Funding arb · Price arb /

SOXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1955%/8h= −214.0% APRpaid last 24h −0.007%

Price spread now: Bitget against Deribit+0.123%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.123%, 7d avg −0.021%

Together, before fees−0.101%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.144% dearer against Deribit than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of −0.021%): +$14 on $10k if it goes back. Holding the pair costs −$59 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 4 days funding on this pair paid +0.052%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.052% in total (about 4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOXL_USDC-PERPETUAL	138.56	0.0039	pay 0.0005% / 1h	10m 56s	$108K	$359K	10x
Short	Bitget SOXLUSDT	138.73	−0.1916	pay 0.1916% / 8h	10m 56s	$60.8M	$142.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$410.5
Price spread: +0.123% → −0.021%: $14.41
Slippage, 4 orders: −$25.96
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$441.04
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Deribit: live order book, 28 min ago; Bitget: 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 Deribit live order book, 28 min ago	8.65 bp	15.0 bp −$15	16.2 bp −$162	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.36 bp	7.2 bp −$7	12.0 bp −$120	40.4 bp −$4,044	55.5 bp −$27.8K

SOXL on 28 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
Bitget SOXLUSDTshort	−0.1916%	8h	138.73	+0.123%	$60.8M	$142.2M	20x
Aster SOXLUSDT	0.0000%	8h	138.50	−0.041%	$196K	$1.7M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	138.45	−0.078%	$51K	$355K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	138.52	−0.030%	$162.7M	$1.47B	50x	as long as short
Bybit SOXLUSDT	0.0000%	8h	138.54	−0.014%	$45.9M	$223.5M	100x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	138.56	0.000%	$25.9M	$229.0M	20x	as long as short
Gate SOXL_USDT	0.0000%	8h	138.58	+0.014%	$27.8M	$51.0M	50x	as long as short
MEXC SOXL_USDT	0.0000%	8h	138.52	−0.029%	$14.6M	$55.7M	200x	as long as short
Variational Omni SOXL	0.0000%	8h	138.52	−0.031%	$1.9M	$5.5M	—	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	139.05	+0.354%	$64K	$201K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SOXL-USDT	0.0000%	8h	138.65	+0.065%	$2K	$4.1M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	139.10	+0.390%	$87K	$1.3M	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	138.54	−0.014%	$2.3M	$1.2M	10x	as long as short
BloFin SOXL-USDT	+0.0024%	8h	138.53	−0.022%	$1.3M	$470K	50x	as long as short
Lighter SOXL	+0.0032%	1h	138.53	−0.022%	$674K	$2.4M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	138.50	−0.043%	$262K	$1.7M	20x	as long as short
QFEX SOXL-USD	+0.0035%	1h	138.63	+0.051%	$256K	$264K	30x	as long as short
Deribit SOXL_USDC-PERPETUALlong	+0.0039%	1h	138.56	long leg	$108K	$359K	10x
tradeXYZ xyz:SOXL	+0.0050%	1h	138.46	−0.072%	$20.9M	$30.3M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	138.92	+0.260%	$211K	$460K	10x	as long as short
Kraken Futures PF_SOXLUSD	+0.0072%	1h	138.58	+0.012%	$73K	$316K	20x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	138.52	−0.029%	$6.5M	$10.9M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	138.99	+0.310%	$36K	$143K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	138.56	0.000%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	138.54	−0.016%	$5K	—	10x	as long as short
Polymarket Perps SOXL-USD	+0.0151%	1h	138.66	+0.072%	$9K	$292K	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0200%	1h	138.94	+0.274%	$951K	$3.1M	10x	as long as short
edgeX SOXLUSDC	+0.0600%	4h	138.81	+0.177%	$173K	$333K	10x	as long as short