Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0175%/8h= +19.2% APRpaid last 24h +0.046%

Price spread now: Paragon against Binance−0.128%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$770.767% of the position

Long on Binance Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now −0.128%, 7d avg −0.002%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.125% cheaper against Binance than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.002%). If the spread goes back, that is −$13 on $10k: about 2.4 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SMCIUSDT	40.953	0.0007	pay 0.0007% / 8h	35m 10s	$3.4M	$5.3M	20x
Short	Paragon para:SMCI	40.901	0.0182	get 0.0023% / 1h	35m 10s	$157K	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BinancebpFee ParagonbpOrdersPrice spread, now −0.128%Rate

Funding earned: $36.75
Price spread: −0.128% → −0.002%: −$12.53
Slippage, 4 orders: −$56.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$52.49
Costs to cover: 0.767%
Break-even: 17.0 days

Slippage from Binance: live order book, 2 min ago; Paragon: live order book, 20 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, 2 min ago	1.22 bp	9.6 bp −$10	46.5 bp −$465	doesn't fit	doesn't fit
Sell Paragon live order book, 20 min ago	19.43 bp	24.4 bp −$24	106.0 bp −$1,060	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	40.570	−0.935%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0158%	8h	40.936	−0.042%	$1.3M	$502K	20x	as long as short
BloFin SMCI-USDT	−0.0014%	8h	40.940	−0.032%	$79K	$9K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.920	−0.081%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.950	−0.007%	$678K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	−0.081%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.947	−0.015%	$125K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.940	−0.032%	$1.6M	$259K	10x	as long as short
Binance SMCIUSDTlong	+0.0007%	8h	40.953	long leg	$3.4M	$5.3M	20x
Extended SMCI-USD	+0.0008%	1h	40.940	−0.031%	$573	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.927	−0.064%	$40K	$13K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.930	−0.056%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0084%	8h	40.950	−0.007%	$525	$169K	10x	as long as short
SoDEX SMCI-USD	+0.0095%	1h	40.940	−0.032%	$131	$3K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.900	−0.130%	$460K	$504K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.910	−0.105%	$8K	$286K	10x	as long as short
Paragon para:SMCIshort	+0.0182%	1h	40.901	−0.128%	$157K	$266K	10x