SOPH arbitrage explained
Right now Sophon (SOPH) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.003684 and the highest bid on KuCoin spot at $0.00369.
The widest SOPH perpetual spread is between OKX and Bybit: long SOPH on OKX at $0.003686 and short on Bybit at $0.003689 for +0.08% gross, or -0.08% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best SOPH route is to buy spot on Gate and short the perpetual on Bybit: +0.14% gross, -0.06% net, with +0.030% a day of funding on the short leg.
Spot–spot SOPH arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) shows +0.16% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small SOPH gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: SOPH funding rates · SOPH spread charts · Sophon price · arbitrage scanner for all coins.