SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0145%/8h= −15.9% APRnext payment −$1.45 per $10,000 · paid last 24h −0.032%

Price spread now: Phemex against Binance−0.045%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1171.165% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 2 days (all we have)+0.087%+$9 · spread now −0.045%, 7d avg −0.012%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.032% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SMCIUSDT	41.418	0.0145	pay 0.0145% / 8h	1h 03m	$3.4M	$5.5M	20x
Short	Phemex SMCIUSDT	41.400	0	get 0.0000% / 8h	1h 03m	$1.6M	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$30.49
Price spread: −0.045% → −0.012%: −$3.24
Slippage, 4 orders: −$94.5
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$150.23
Costs to cover: 1.165%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	2.41 bp	13.6 bp −$14	55.6 bp −$556	1403.6 bp −$140.4K	doesn't fit
Sell Phemex live order book, 4 min ago	2.41 bp	40.3 bp −$40	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	41.000	−1.010%	$4K	$99	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.350	−0.165%	$1.0M	$656K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+0.004%	$689K	$1.2M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.360	−0.141%	$1.6M	$1.9M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.383	−0.086%	$1.3M	$530K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.404	−0.034%	$67K	$81K	—	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	41.400	−0.045%	$1.6M	$266K	10x
Lighter RH SMCI	+0.0032%	1h	41.395	−0.057%	$32K	$7K	10x	as long as short
QFEX SMCI-USD	+0.0049%	1h	41.410	−0.020%	$1.1M	$2.3M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.350	−0.165%	$159K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.330	−0.214%	$460K	$545K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.370	−0.117%	$8K	$284K	10x	as long as short
SoDEX SMCI-USD	+0.0110%	1h	41.380	−0.093%	$129	$3K	10x	as long as short
Extended SMCI-USD	+0.0144%	1h	41.409	−0.024%	$578	$10K	10x	as long as short
Binance SMCIUSDTlong	+0.0145%	8h	41.418	long leg	$3.4M	$5.5M	20x
BloFin SMCI-USDT	+0.0162%	8h	41.370	−0.117%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0264%	8h	41.400	−0.045%	$348	$158K	10x	as long as short