Funding you earn now, next payment 08:00 UTC−0.0190%/8h= −20.8% APRnext payment −$1.90 per $10,000 · paid last 24h −0.032%
Price spread now: OKX against Binance−0.078%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$890.886% of the position
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 7 days+0.064%+$6 · spread now −0.078%, 7d avg −0.008%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.070% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.008%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.90 per $10,000. 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 | Binance SMCIUSDT | 41.552 | 0.0190 | pay 0.0190% / 8h | 5h 30m | $3.4M | $5.2M | 20x |
| Short | OKX SMCI-USDT-SWAP | 41.520 | 0 | get 0.0000% / 8h | 5h 30m | $689K | $1.1M | 20x |
Binance SMCIUSDT
OKX SMCI-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$39.93
- Price spread: −0.078% → −0.008%
- −$7
- Slippage, 4 orders
- −$68.61
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$135.54
- Costs to cover
- 0.886%
- Break-even
- never at this rate
Slippage from Binance: live order book, 7 min ago; OKX: live order book, 1 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 Binance live order book, 7 min ago | 1.20 bp | 12.4 bp −$12 | 47.8 bp −$478 | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 6.02 bp | 24.9 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
SMCI on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SMCI/USDC PERP | −0.0220% | 1h | 41.130 | −1.017% | $4K | $94 | 12x | as long as short |
| Bybit SMCIUSDT | 0.0000% | 8h | 41.500 | −0.126% | $1.0M | $648K | 25x | as long as short |
| OKX SMCI-USDT-SWAPshort | 0.0000% | 8h | 41.520 | −0.078% | $689K | $1.1M | 20x | |
| Gate SMCI_USDT | 0.0000% | 8h | 41.510 | −0.102% | $1.6M | $1.6M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.529 | −0.057% | $1.3M | $505K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.540 | −0.030% | $1.6M | $248K | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.532 | −0.049% | $32K | $5K | 10x | as long as short |
| QFEX SMCI-USD | +0.0048% | 1h | 41.480 | −0.174% | $1.1M | $2.1M | 10x | as long as short |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.540 | −0.030% | $143 | $3K | 10x | as long as short |
| Variational Omni SMCI | +0.0055% | 8h | 41.551 | −0.002% | $98K | $110K | — | as long as short |
Injective SMCI/USDC PERP
Bybit SMCIUSDT
Gate SMCI_USDT
Bitget SMCIUSDT
Phemex SMCIUSDT
Lighter RH SMCI
QFEX SMCI-USD
SoDEX SMCI-USD
Variational Omni SMCIShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.500 | −0.126% | $463K | $487K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.490 | −0.150% | $8K | $285K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0145% | 8h | 41.550 | −0.006% | $359 | $154K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0163% | 8h | 41.540 | −0.030% | $80K | $9K | 20x | as long as short |
| Binance SMCIUSDTlong | +0.0190% | 8h | 41.552 | long leg | $3.4M | $5.2M | 20x | |
| Extended SMCI-USD | +0.0192% | 1h | 41.542 | −0.026% | $580 | $10K | 10x | as long as short |
| Paragon para:SMCI | +0.1355% | 1h | 41.492 | −0.145% | $159K | $265K | 10x | as long as short |
KuCoin SMCIUSDTM
HTX SMCI-USDT
GRVT SMCI_USDT_Perp
BloFin SMCI-USDT
Extended SMCI-USD
Paragon para:SMCI