Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0424%/8h= +46.5% APRpaid last 24h +0.068%

Price spread now: Kraken Futures against Phemex−0.092%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1501.496% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.092%, 7d avg −0.107%

Together, before fees−0.006%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.107%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.089%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% 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	Phemex SOXLUSDT	146.73	0	get 0.0000% / 8h	6h 59m	$2.5M	$1.2M	10x
Short	Kraken Futures PF_SOXLUSD	146.59	0.0424	get 0.0053% / 1h	59m 28s	$89K	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.092%Rate

Funding earned: $89.1
Price spread: −0.092% → −0.107%: $1.48
Slippage, 4 orders: −$127.6
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.03
Costs to cover: 1.496%
Break-even: 11.6 days

Slippage from Phemex: live order book, 4 min ago; Kraken Futures: live order book, 8 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, 4 min ago	7.50 bp	47.3 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 8 min ago	4.43 bp	37.8 bp −$38	doesn't fit	doesn't fit	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
Ondo Perps SOXL-USD.P	−0.0075%	1h	146.62	−0.075%	$229K	$723K	10x	as long as short
Bybit SOXLUSDT	0.0000%	8h	146.68	−0.034%	$53.0M	$182.9M	100x	as long as short
Gate SOXL_USDT	0.0000%	8h	146.65	−0.055%	$27.4M	$39.4M	50x	as long as short
SunX SOXL-USDT	0.0000%	8h	146.72	−0.007%	$1K	$4.5M	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	0.0000%	1h	146.72	−0.007%	$119K	$287K	10x	as long as short
Phemex SOXLUSDTlong	0.0000%	8h	146.73	long leg	$2.5M	$1.2M	10x
Aster SOXLUSDT	+0.0020%	8h	146.71	−0.014%	$254K	$1.6M	50x	as long as short
Lighter SOXL	+0.0032%	1h	146.57	−0.109%	$816K	$2.5M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	146.61	−0.082%	$349K	$1.8M	20x	as long as short
tradeXYZ xyz:SOXL	+0.0050%	1h	146.58	−0.102%	$26.3M	$22.2M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SOXL-USD	+0.0070%	1h	146.58	−0.102%	$271K	$271K	30x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	146.70	−0.020%	$7.0M	$10.4M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	146.58	−0.102%	$38K	$142K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	146.72	−0.007%	$1K	$5K	20x	as long as short
OKX SOXL-USDT-SWAP	+0.0103%	8h	146.66	−0.048%	$26.4M	$190.6M	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	146.71	−0.015%	$6K	—	10x	as long as short
Polymarket Perps SOXL-USD	+0.0206%	1h	146.73	0.000%	$5K	$266K	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0208%	1h	146.68	−0.034%	$955K	$2.4M	10x	as long as short
HTX SOXL-USDT	+0.0223%	8h	146.81	+0.055%	$185K	$624K	50x	as long as short
Variational Omni SOXL	+0.0238%	8h	146.74	+0.006%	$2.4M	$5.0M	—	as long as short
Extended SOXL-USD	+0.0272%	1h	146.57	−0.112%	$25K	$273K	10x	as long as short
MEXC SOXL_USDT	+0.0273%	8h	146.62	−0.075%	$14.0M	$46.8M	200x	as long as short
Binance SOXLUSDT	+0.0275%	8h	146.63	−0.066%	$171.9M	$1.22B	50x	as long as short
BloFin SOXL-USDT	+0.0297%	8h	146.71	−0.014%	$1.3M	$496K	50x	as long as short
Kraken Futures PF_SOXLUSDshort	+0.0424%	1h	146.59	−0.092%	$89K	$304K	20x
Bitget SOXLUSDT	+0.0646%	8h	146.61	−0.082%	$61.8M	$112.6M	20x	as long as short
GRVT SOXL_USDT_Perp	+0.0738%	8h	146.75	+0.012%	$72K	$164K	10x	as long as short
edgeX SOXLUSDC	+0.0851%	4h	146.64	−0.062%	$183K	$323K	10x	as long as short