Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0914%/8h= −100.1% APRpaid last 24h −0.056%

Price spread now: Binance against Polymarket Perps+0.038%7-day average −0.009% · 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−$23as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.065%−$7 on $10k

Price spread, last 2 days (all we have)−0.104%−$10 · spread now +0.038%, 7d avg −0.009%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.048% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.009%): +$5 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 5 days (−0.065% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.065% in total (about -4.5% 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	Polymarket Perps SOXL-USD	146.74	0.1013	pay 0.0127% / 1h	47m 02s	$5K	$266K	10x
Short	Binance SOXLUSDT	146.80	0.0099	get 0.0099% / 8h	7h 47m	$173.7M	$1.20B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$191.93
Price spread: +0.038% → −0.009%: $4.75
Slippage, 4 orders: −$9.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$214.94
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 25 min ago; Binance: live order book, 12 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 Polymarket Perps live order book, 25 min ago	3.80 bp	7.8 bp −$8	9.3 bp −$93	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.34 bp	5.5 bp −$5	7.6 bp −$76	20.1 bp −$2,012	74.4 bp −$37.2K

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	146.45	−0.198%	$218K	$1.6M	50x	as long as short
Gate SOXL_USDT	0.0000%	8h	146.76	+0.014%	$28.1M	$38.4M	50x	as long as short
SunX SOXL-USDT	0.0000%	8h	146.67	−0.048%	$1K	$4.6M	10x	as long as short
Phemex SOXLUSDT	0.0000%	8h	146.77	+0.020%	$2.5M	$1.2M	10x	as long as short
Lighter RH SOXL	+0.0032%	1h	146.76	+0.014%	$347K	$1.8M	20x	as long as short
Variational Omni SOXL	+0.0043%	8h	145.75	−0.673%	$2.2M	$5.0M	—	as long as short
Lighter SOXL	+0.0048%	1h	146.78	+0.027%	$815K	$2.6M	20x	as long as short
Bitget SOXLUSDT	+0.0054%	8h	146.70	−0.027%	$62.2M	$109.6M	20x	as long as short
OKX SOXL-USDT-SWAP	+0.0065%	8h	146.81	+0.048%	$25.8M	$186.2M	20x	as long as short
QFEX SOXL-USD	+0.0070%	1h	146.56	−0.123%	$271K	$271K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SOXL-USDT	+0.0089%	8h	146.82	+0.055%	$1.2M	$495K	50x	as long as short
Ondo Perps SOXL-USD.P	+0.0092%	1h	146.56	−0.123%	$240K	$768K	10x	as long as short
MEXC SOXL_USDT	+0.0094%	8h	146.75	+0.007%	$14.1M	$46.9M	200x	as long as short
Extended SOXL-USD	+0.0096%	1h	146.63	−0.078%	$25K	$318K	10x	as long as short
Binance SOXLUSDTshort	+0.0099%	8h	146.80	+0.038%	$173.7M	$1.20B	50x
KuCoin SOXLUSDTM	+0.0100%	8h	146.54	−0.136%	$7.0M	$10.6M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	146.40	−0.232%	$38K	$142K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	146.67	−0.048%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	146.29	−0.310%	$6K	—	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0208%	1h	146.50	−0.164%	$1.1M	$2.2M	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0227%	1h	146.68	−0.041%	$119K	$276K	10x	as long as short
HTX SOXL-USDT	+0.0271%	8h	146.69	−0.034%	$184K	$592K	50x	as long as short
edgeX SOXLUSDC	+0.0377%	4h	146.33	−0.278%	$182K	$322K	10x	as long as short
Kraken Futures PF_SOXLUSD	+0.0425%	1h	146.50	−0.164%	$89K	$309K	20x	as long as short
Bybit SOXLUSDT	+0.0515%	8h	146.88	+0.095%	$52.9M	$179.2M	100x	as long as short
tradeXYZ xyz:SOXL	+0.0569%	1h	146.77	+0.020%	$26.8M	$20.8M	10x	as long as short
GRVT SOXL_USDT_Perp	+0.0878%	8h	146.31	−0.293%	$72K	$160K	10x	as long as short
Polymarket Perps SOXL-USDlong	+0.1013%	1h	146.74	long leg	$5K	$266K	10x