Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0511%/8h= −56.0% APRpaid last 24h −0.151%

Price spread now: Coinbase International against edgeX+0.114%77s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.702% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.114%, 7d avg +0.011%

Together, before fees−0.234%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.103% dearer against edgeX than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of +0.011%): +$10 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.094% in total) that is about 7.7 days. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% 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	edgeX SOXLUSDC	145.24	0.0671	pay 0.0336% / 4h	1h 47m	$181K	$324K	10x
Short	Coinbase International SOXL-PERP-INTX	145.41	0.0160	get 0.0020% / 1h	47m 54s	$804K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.114%Rate

Funding earned: −$107.38
Price spread: +0.114% → +0.011%: $10.28
Slippage, 4 orders: −$51.16
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$167.26
Costs to cover: 0.702%
Break-even: never at this rate

Slippage from edgeX: live order book, 15 min ago; Coinbase International: live order book, 1 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 edgeX live order book, 15 min ago	20.71 bp	26.4 bp −$26	31.0 bp −$310	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.80 bp	8.8 bp −$9	11.9 bp −$119	doesn't fit	doesn't fit

SOXL on 27 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
Aster SOXLUSDT	0.0000%	8h	145.01	−0.162%	$247K	$1.5M	50x	as long as short
Bybit SOXLUSDT	0.0000%	8h	145.04	−0.141%	$52.0M	$185.0M	100x	as long as short
Gate SOXL_USDT	0.0000%	8h	144.99	−0.175%	$27.1M	$42.3M	50x	as long as short
Bitget SOXLUSDT	0.0000%	8h	144.96	−0.196%	$60.1M	$111.9M	20x	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	145.29	+0.031%	$70K	$175K	10x	as long as short
SunX SOXL-USDT	0.0000%	8h	144.87	−0.258%	$1K	$4.3M	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	0.0000%	1h	144.96	−0.196%	$117K	$286K	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	144.96	−0.196%	$184K	$568K	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	145.02	−0.155%	$2.5M	$1.2M	10x	as long as short
QFEX SOXL-USD	+0.0004%	1h	144.88	−0.251%	$268K	$271K	30x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SOXL-USDT-SWAP	+0.0009%	8h	144.98	−0.182%	$24.7M	$191.6M	20x	as long as short
Kraken Futures PF_SOXLUSD	+0.0018%	1h	144.91	−0.232%	$88K	$304K	20x	as long as short
Lighter SOXL	+0.0032%	1h	144.95	−0.203%	$810K	$2.4M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	145.02	−0.155%	$358K	$1.7M	20x	as long as short
tradeXYZ xyz:SOXL	+0.0050%	1h	144.97	−0.189%	$25.4M	$22.8M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	145.05	−0.134%	$207K	$612K	10x	as long as short
Variational Omni SOXL	+0.0084%	8h	145.23	−0.012%	$2.4M	$4.8M	—	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	145.05	−0.134%	$6.9M	$10.3M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	145.24	−0.003%	$38K	$143K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	144.94	−0.210%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	144.93	−0.218%	$6K	—	10x	as long as short
Binance SOXLUSDT	+0.0118%	8h	145.00	−0.168%	$169.2M	$1.23B	50x	as long as short
Extended SOXL-USD	+0.0120%	1h	144.95	−0.200%	$25K	$241K	10x	as long as short
MEXC SOXL_USDT	+0.0121%	8h	144.99	−0.175%	$15.1M	$48.8M	200x	as long as short
Coinbase International SOXL-PERP-INTXshort	+0.0160%	1h	145.41	+0.114%	$804K	$2.5M	10x
Polymarket Perps SOXL-USD	+0.0260%	1h	145.08	−0.113%	$3K	$269K	10x	as long as short
edgeX SOXLUSDClong	+0.0671%	4h	145.24	long leg	$181K	$324K	10x