Unlike other enchantments in Minecraft, however, players can’t obtain this on boots by simply using an enchantment table. Instead, they will need to trade gold ingots with Piglins in order to get ahold of pre-enchanted boots or a book with the enchantment on it.
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Enchanted books with the Soul Speed enchantment can also be found from chests in Bastion Remnants, but these are currently the only way of obtaining the enchantment. Players wanting to know exactly how the boots work should read on, as there are a couple things worth noting before enchanting away.
The formula used to determine the player’s speed increase is 0.9 + [Soul Speed Level] * 0.125. Essentially, in order to figure out just how much faster the player will be, they need to multiply their Soul Speed Level by 0.125 (or divide it by 8) and then add 0.9. It’s important to follow the order of operations and multiply before adding or else the formula will not work. This means that Soul Speed I makes the player move 2.5% faster, Soul Speed II makes the player move 15% faster, and Soul Speed III makes the player move 27.5% faster. Of course, this bonus only applies when moving on Soul Sand or Soul Soil, and it negates the movement penalty applied by Soul Sand (so the player will move the same speed on both surfaces).
Players making use of Soul Speed for faster overworld travel should be weary that the enchantment does degrade the wearer’s boots, albeit at a minimal rate. Each time the player steps on one of these two blocks, there is 4% chance that the boots will lose durability. Of course, taking damage or falling will also still damage the boots, so despite this seeming relatively low, Soul Speed boots can break faster than one might think.
This enchantment has a host of uses, and for reference, a 27.5% increase to movement is more than a Potion of Swiftness grants, making this no joke. Players will certainly want to be cautious about breaking the boots, but the Unbreaking and Mending enchantments both do wonders to counteract the steady degradation caused by Soul Speed.
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Source: Minecraft Wiki