SOPH Funding Rate Arbitrage
Delta-neutral, not risk-free: funding can flip, and you need margin on both legs (liquidation risk on either exchange). Yields are annualized from the current funding spread and change every funding interval.
SOPH funding pairs across exchanges
LIVEBoth legs of every pair use rates from the same moment. The spread is the hourly funding rate of the short leg minus the long leg; the annual figure is the hourly spread × 8760 at the rates shown. The result covers 30 days on 5,000 USDT per leg with the venues’ public taker fees; the order-book spread and slippage on execution are not included.
| Long | Short | Spread per hour | Annual (hourly × 8760) | Status | Result for 30 days |
|---|---|---|---|---|---|
| KuCoin SOPHUSDTM | Bybit SOPHUSDT | +0.028918%/h | ≈ +253.32% APR | from known costs | +1,022.75 USDT |
| MEXC SOPH_USDT | Bybit SOPHUSDT | +0.023443%/h | ≈ +205.36% APR | from known costs | +830.30 USDT |
| Binance SOPHUSDT | Bybit SOPHUSDT | +0.023459%/h | ≈ +205.50% APR | from known costs | +829.97 USDT |
| BingX SOPH-USDT | Bybit SOPHUSDT | +0.021618%/h | ≈ +189.37% APR | from known costs | +765.37 USDT |
| Bitget SOPHUSDT | Bybit SOPHUSDT | +0.020018%/h | ≈ +175.35% APR | from known costs | +699.98 USDT |
| KuCoin SOPHUSDTM | Gate.io SOPH_USDT | +0.015125%/h | ≈ +132.50% APR | from known costs | +533.01 USDT |
| OKX SOPH-USDT-SWAP | Bybit SOPHUSDT | +0.015016%/h | ≈ +131.54% APR | from known costs | +522.88 USDT |
| KuCoin SOPHUSDTM | OKX SOPH-USDT-SWAP | +0.013901%/h | ≈ +121.78% APR | from known costs | +491.51 USDT |
| Gate.io SOPH_USDT | Bybit SOPHUSDT | +0.013793%/h | ≈ +120.82% APR | from known costs | +476.54 USDT |
| MEXC SOPH_USDT | Gate.io SOPH_USDT | +0.009650%/h | ≈ +84.53% APR | from known costs | +339.91 USDT |
| Binance SOPHUSDT | Gate.io SOPH_USDT | +0.009667%/h | ≈ +84.68% APR | from known costs | +339.21 USDT |
| KuCoin SOPHUSDTM | Bitget SOPHUSDT | +0.008900%/h | ≈ +77.96% APR | from known costs | +311.86 USDT |
| MEXC SOPH_USDT | OKX SOPH-USDT-SWAP | +0.008426%/h | ≈ +73.82% APR | from known costs | +298.42 USDT |
| Binance SOPHUSDT | OKX SOPH-USDT-SWAP | +0.008443%/h | ≈ +73.96% APR | from known costs | +297.76 USDT |
| BingX SOPH-USDT | Gate.io SOPH_USDT | +0.007825%/h | ≈ +68.55% APR | from known costs | +274.24 USDT |
| KuCoin SOPHUSDTM | BingX SOPH-USDT | +0.007300%/h | ≈ +63.95% APR | from known costs | +247.74 USDT |
| BingX SOPH-USDT | OKX SOPH-USDT-SWAP | +0.006601%/h | ≈ +57.83% APR | from known costs | +232.82 USDT |
| Bitget SOPHUSDT | Gate.io SOPH_USDT | +0.006225%/h | ≈ +54.53% APR | from known costs | +209.45 USDT |
| KuCoin SOPHUSDTM | MEXC SOPH_USDT | +0.005475%/h | ≈ +47.96% APR | from known costs | +189.10 USDT |
| KuCoin SOPHUSDTM | Binance SOPHUSDT | +0.005458%/h | ≈ +47.81% APR | from known costs | +183.22 USDT |
| Bitget SOPHUSDT | OKX SOPH-USDT-SWAP | +0.005001%/h | ≈ +43.81% APR | from known costs | +167.90 USDT |
| MEXC SOPH_USDT | Bitget SOPHUSDT | +0.003425%/h | ≈ +30.00% APR | from known costs | +118.76 USDT |
| Binance SOPHUSDT | Bitget SOPHUSDT | +0.003442%/h | ≈ +30.15% APR | from known costs | +118.30 USDT |
| MEXC SOPH_USDT | BingX SOPH-USDT | +0.001825%/h | ≈ +15.99% APR | from known costs | +55.02 USDT |
| Binance SOPHUSDT | BingX SOPH-USDT | +0.001842%/h | ≈ +16.13% APR | from known costs | +54.68 USDT |
| BingX SOPH-USDT | Bitget SOPHUSDT | +0.001600%/h | ≈ +14.02% APR | from known costs | +53.51 USDT |
| OKX SOPH-USDT-SWAP | Gate.io SOPH_USDT | +0.001224%/h | ≈ +10.72% APR | from known costs | +31.55 USDT |
| Binance SOPHUSDT | MEXC SOPH_USDT | +0.000017%/h | ≈ +0.15% APR | from known costs | −4.33 USDT |
| BingX SOPH-USDT | Hyperliquid SOPH | +0.004303%/h | ≈ +37.69% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| Bitget SOPHUSDT | Hyperliquid SOPH | +0.002703%/h | ≈ +23.68% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| Hyperliquid SOPH | Bybit SOPHUSDT | +0.017315%/h | ≈ +151.68% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| Hyperliquid SOPH | Gate.io SOPH_USDT | +0.003522%/h | ≈ +30.86% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| KuCoin SOPHUSDTM | Hyperliquid SOPH | +0.011603%/h | ≈ +101.64% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| MEXC SOPH_USDT | Hyperliquid SOPH | +0.006128%/h | ≈ +53.68% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| Hyperliquid SOPH | OKX SOPH-USDT-SWAP | +0.002299%/h | ≈ +20.14% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
| Binance SOPHUSDT | Hyperliquid SOPH | +0.006144%/h | ≈ +53.83% APR | from known costs | —Execution costs (spread and slippage) are not estimated. |
SOPH: scenario for the top pair
SOPH · long KuCoin SOPHUSDTM · short Bybit SOPHUSDT · 5,000 per leg · 30 days
Result from known costs
Some costs are unknown, so the total is incomplete. Missing:
- Execution costs (spread and slippage) are not estimated.
- The fee is a baseline value, not a verified fee of the venue or of your account.
Result from known costs
+1,022.75 USDT
30d
Rates
- Rate spread per hour
- +0.028918%/h
- Spread, annualized
- ≈ +253.32% APR
| Instrument | Rate per period | Rate kind | Per hour | Annual (hourly × 8760) | Who pays | Next settlement |
|---|---|---|---|---|---|---|
| SOPHUSDTM · KuCoin | -0.231600% per 4h | current, accruing | -0.057900%/h | ≈ −507.20% APR | long receives | from exchange data |
| SOPHUSDT · Bybit | -0.115930% per 4h | current, accruing | -0.028983%/h | ≈ −253.89% APR | short pays | from exchange data |
- Annual = hourly rate × 8760 h — the rate shown, stretched over a year.
Costs and result
- Funding over 30d
- +1,034.23 USDT
- Trading fee, KuCoin, entry
- −2.99 USDT taker · 0.0600% · the venue’s fee for this contract
- Trading fee, KuCoin, exit
- −2.99 USDT taker · 0.0600% · the venue’s fee for this contract
- Trading fee, Bybit, entry
- −2.75 USDT taker · 0.0550% · base fee, not your account’s verified fee
- Trading fee, Bybit, exit
- −2.75 USDT taker · 0.0550% · base fee, not your account’s verified fee
- Spread and slippage, KuCoin, entry
- —Execution costs (spread and slippage) are not estimated.
- Spread and slippage, KuCoin, exit
- —Execution costs (spread and slippage) are not estimated.
- Spread and slippage, Bybit, entry
- —Execution costs (spread and slippage) are not estimated.
- Spread and slippage, Bybit, exit
- —Execution costs (spread and slippage) are not estimated.
- Result from known costs
- +1,022.75 USDT
Break-even
- Calendar break-even
- Oct 24, 2026 19:00 MSK (16:00 UTC)
- Approximation: costs ÷ daily funding flow
- ≈ 0.33 days
- Funding spread to break even over 30d
- 0.007654%/day
- Break-even uses known costs only, so it is not the full break-even.
Rate history
- Full history since
- Payments in history
- 348
- History coverage
- 32.22%
| Window | Status | Mean spread (time-weighted) | Sum of settled rates | Share of positive periods | Sign changes | Payments · coverage | Reasons |
|---|---|---|---|---|---|---|---|
| 24 h | complete under assumptions | +0.008984%/h | +0.288507% | 83.33% | 1 | 12 · 100.00% | — |
| 7 days | from known costs | +0.005260%/h | +0.771149% | 100.00% | 0 | 84 · 100.00% | Rates are unknown for part of the period: the metric uses known values only. |
| 30 days | from known costs | +0.004624%/h | —There is not enough rate history for this metric. | 44.83% | 0 | 348 · 96.67% | There is not enough rate history for this metric. |
| 90 days | from known costs | +0.004624%/h | —There is not enough rate history for this metric. | 44.83% | 0 | 348 · 32.22% | There is not enough rate history for this metric. |
- The funding path is hypothetical: fixed size, no price changes, fees or liquidations.
Data and assumptions
- KuCoin rate
- Bybit rate
- Valid until
- KuCoin: The venue does not state the data time — it is determined indirectly.
- The pair’s rates come from the shared list update and were not rechecked separately.
- A payment at the opening moment is outside the period; a payment at the closing moment is inside.
- Quantity = notional ÷ the higher of the leg prices.
- The price funding is calculated from does not change until the payment.
- The current rate stays unchanged in repeats.
- The funding interval does not change.
- Capital is already on the venues: no entry transfer; return and rebalancing are not included.
- The exit price equals the current price: exit notional and fee are as of now.
- Margin equals the leg notional (1× leverage).
- Reserve on the venue is 0.
- Margin equals the leg notional (1× leverage).
- Reserve on the venue is 0.
Each button opens one leg of this calculation on its venue.
SOPH pairs over the last 7 days
Past days, not current opportunities. Days and times are MSK.
Last usable pair: Oct 24, 2026 13:35 MSK (10:35 UTC), long KuCoin SOPHUSDTM / short Bybit SOPHUSDT, +0.032037%/h.
| Day | Updates with a pair | Most pairs at once | Widest spread | Pair |
|---|---|---|---|---|
| 82 | 36 | +0.089957%/h | long Bybit SOPHUSDT / short OKX SOPH-USDT-SWAP | |
| 144 | 36 | +0.113742%/h | long Bybit SOPHUSDT / short BingX SOPH-USDT | |
| 139 | 36 | +0.032920%/h | long Binance SOPHUSDT / short Bybit SOPHUSDT | |
| 141 | 36 | +0.032123%/h | long Bybit SOPHUSDT / short Bitget SOPHUSDT | |
| 20 | 36 | +0.037575%/h | long MEXC SOPH_USDT / short Gate.io SOPH_USDT |
How funding rate arbitrage works
A perpetual futures contract pays a periodic funding rate between longs and shorts. When two exchanges show different funding rates for the same coin, you can go long where funding is low (or negative) and short where it is high — staying delta-neutral on price while collecting the funding spread. Yieldo scans live rates across all supported exchanges and ranks the best long/short pairs after fees.
SOPH on Yieldo
Related Pages
FAQ
SOPH FAQ
What is funding rate arbitrage?
It is a delta-neutral strategy: you open a long position where the perpetual funding rate is low or negative and a short of the same size where funding is high. Price moves cancel out, and you collect the difference in funding payments.
Is SOPH funding arbitrage risk-free?
No. It is market-neutral, not risk-free. Funding rates can flip before the next payment, both legs require margin (liquidation risk), and exchange or transfer issues can break the hedge. Treat the annualized yield as indicative, not guaranteed.
How is the annualized yield calculated?
We take the current funding-rate spread between the two exchanges and annualize it by the number of funding intervals per year for each contract. Actual returns depend on how long the spread persists.
Watch the SOPH funding spread
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