Funding arb · Price arb /

SOXL

RWAall SOXL 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 +0.040%

Price spread now: Bitget against Phemex−0.091%56s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$1431.430% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.599%+$60 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.091%, 7d avg −0.051%

Together, before fees+0.662%+$66 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 0.040% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOXLUSDT	143.54	0	get 0.0000% / 8h	3h 43m	$2.4M	$1.2M	10x
Short	Bitget SOXLUSDT	143.41	0	get 0.0000% / 8h	3h 43m	$59.3M	$115.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → −0.051%: −$3.98
Slippage, 4 orders: −$119.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$146.99
Costs to cover: 1.430%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: live order book, 6 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 Phemex live order book, 5 min ago	3.84 bp	69.0 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	0.35 bp	7.1 bp −$7	11.6 bp −$116	38.1 bp −$3,813	doesn't fit

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
Aster SOXLUSDT	0.0000%	8h	143.46	−0.055%	$230K	$1.6M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	143.36	−0.125%	$19K	$250K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	143.40	−0.098%	$166.6M	$1.27B	50x	as long as short
Bybit SOXLUSDT	0.0000%	8h	143.43	−0.077%	$47.6M	$196.6M	100x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	143.40	−0.098%	$24.1M	$198.9M	20x	as long as short
Gate SOXL_USDT	0.0000%	8h	143.42	−0.084%	$26.5M	$43.8M	50x	as long as short
MEXC SOXL_USDT	0.0000%	8h	143.42	−0.084%	$15.0M	$49.8M	200x	as long as short
Bitget SOXLUSDTshort	0.0000%	8h	143.41	−0.091%	$59.3M	$115.8M	20x
Variational Omni SOXL	0.0000%	8h	143.77	+0.160%	$2.3M	$4.8M	—	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	143.54	−0.001%	$68K	$180K	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	143.57	+0.021%	$1K	$4.3M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	143.64	+0.070%	$181K	$575K	50x	as long as short
Phemex SOXLUSDTlong	0.0000%	8h	143.54	long leg	$2.4M	$1.2M	10x
QFEX SOXL-USD	+0.0004%	1h	143.45	−0.063%	$265K	$266K	30x	as long as short
BloFin SOXL-USDT	+0.0019%	8h	143.48	−0.042%	$1.2M	$471K	50x	as long as short
Lighter SOXL	+0.0032%	1h	143.39	−0.105%	$707K	$2.5M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	143.36	−0.125%	$270K	$1.8M	20x	as long as short
Kraken Futures PF_SOXLUSD	+0.0050%	1h	143.42	−0.080%	$87K	$285K	20x	as long as short
tradeXYZ xyz:SOXL	+0.0050%	1h	143.38	−0.111%	$25.1M	$22.9M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	143.78	+0.167%	$200K	$490K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	143.40	−0.098%	$6.9M	$10.1M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	143.55	+0.007%	$37K	$143K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	143.39	−0.105%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	143.41	−0.092%	$6K	—	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0120%	1h	143.47	−0.049%	$762K	$2.7M	10x	as long as short
Polymarket Perps SOXL-USD	+0.0167%	1h	143.55	+0.007%	$3K	$268K	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0168%	1h	143.51	−0.021%	$112K	$316K	10x	as long as short
edgeX SOXLUSDC	+0.0392%	4h	143.42	−0.084%	$179K	$329K	10x	as long as short