Funding arb · Price arb /

SOXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0451%/8h= −49.4% APRpaid last 24h −0.196%

Price spread now: Bitget against tradeXYZ+0.071%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

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

costs, in and out, $10k−$350.349% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 7 days+0.007%+$1 · spread now +0.071%, 7d avg +0.036%

Together, before fees+0.258%+ Points / potential airdroptradeXYZ: Active · farm board+$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.035% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.036%): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +0.251%, 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 7 days it paid 0.251% in total (about 13.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SOXL	141.47	0.0050	pay 0.0006% / 1h	41m 42s	$22.1M	$33.2M	10x
Short	Bitget SOXLUSDT	141.57	−0.0401	pay 0.0401% / 8h	5h 41m	$59.5M	$163.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$94.71
Price spread: +0.071% → +0.036%: $3.49
Slippage, 4 orders: −$4.86
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$126.08
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Bitget: live order book, 5 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 tradeXYZ live order book, 11 min ago	0.35 bp	9.4 bp −$9	11.4 bp −$114	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.35 bp	7.7 bp −$8	12.2 bp −$122	36.3 bp −$3,625	54.6 bp −$27.3K

SOXL on 28 exchanges

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	−0.0401%	8h	141.57	+0.071%	$59.5M	$163.0M	20x
Deribit SOXL_USDC-PERPETUAL	−0.0033%	1h	141.39	−0.057%	$114K	$380K	10x	as long as short
BloFin SOXL-USDT	−0.0020%	8h	141.59	+0.085%	$1.3M	$506K	50x	as long as short
Aster SOXLUSDT	0.0000%	8h	141.46	−0.009%	$181K	$1.4M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	141.46	−0.005%	$41K	$445K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	141.50	+0.021%	$162.8M	$1.66B	50x	as long as short
Bybit SOXLUSDT	0.0000%	8h	141.55	+0.057%	$45.4M	$231.4M	100x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	141.50	+0.021%	$25.5M	$262.3M	20x	as long as short
Gate SOXL_USDT	0.0000%	8h	141.48	+0.007%	$28.2M	$60.1M	50x	as long as short
MEXC SOXL_USDT	0.0000%	8h	141.52	+0.035%	$22.3M	$61.1M	200x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SOXL	0.0000%	8h	141.65	+0.126%	$1.9M	$5.6M	—	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	142.07	+0.424%	$66K	$197K	10x	as long as short
SunX SOXL-USDT	0.0000%	8h	141.43	−0.028%	$1K	$3.7M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	141.57	+0.071%	$89K	$1.2M	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	141.49	+0.014%	$2.3M	$1.2M	10x	as long as short
QFEX SOXL-USD	+0.0022%	1h	141.53	+0.042%	$262K	$257K	30x	as long as short
Lighter SOXL	+0.0032%	1h	141.47	0.000%	$680K	$2.7M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	141.47	0.000%	$262K	$1.8M	20x	as long as short
tradeXYZ xyz:SOXLlong	+0.0050%	1h	141.47	long leg	$22.1M	$33.2M	10x
Polymarket Perps SOXL-USD	+0.0050%	1h	141.46	−0.007%	$13K	$293K	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	141.41	−0.042%	$206K	$398K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	141.52	+0.035%	$6.4M	$10.3M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	141.44	−0.021%	$37K	$143K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	141.47	0.000%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	141.46	−0.005%	$5K	—	10x	as long as short
edgeX SOXLUSDC	+0.0166%	4h	141.44	−0.018%	$176K	$335K	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0200%	1h	141.50	+0.021%	$821K	$3.4M	10x	as long as short
Kraken Futures PF_SOXLUSD	+0.0512%	1h	141.14	−0.230%	$88K	$380K	20x	as long as short