Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0413%/8h= +45.3% APRpaid last 24h +0.100%

Price spread now: Paragon against Bitget−0.090%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1761.762% of the position

Long on Bitget Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.290%+$29 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.090%, 7d avg +0.015%

Together, before fees+0.421%+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.105% cheaper against Bitget than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of +0.015%). If the spread goes back, that is −$11 on $10k: about 20 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.290% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SMCIUSDT	41.384	0	get 0.0000% / 8h	3h 48m	$1.3M	$495K	20x
Short	Paragon para:SMCI	41.347	0.0413	get 0.0052% / 1h	48m 36s	$159K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Bitget. 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 BitgetbpFee ParagonbpOrdersPrice spread, now −0.090%Rate

Funding earned: $86.79
Price spread: −0.090% → +0.015%: −$10.51
Slippage, 4 orders: −$154.21
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$99.93
Costs to cover: 1.762%
Break-even: 15.1 days

Slippage from Bitget: live order book, 3 min ago; Paragon: live order book, 37 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 Bitget live order book, 3 min ago	3.98 bp	13.9 bp −$14	55.0 bp −$550	doesn't fit	doesn't fit
Sell Paragon live order book, 37 min ago	53.49 bp	58.5 bp −$58	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	41.060	−0.783%	$4K	$91	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.320	−0.155%	$1.0M	$647K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.350	−0.082%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.330	−0.130%	$1.5M	$1.5M	20x	as long as short
Bitget SMCIUSDTlong	0.0000%	8h	41.384	long leg	$1.3M	$495K	20x
Variational Omni SMCI	0.0000%	8h	41.378	−0.015%	$97K	$110K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.340	−0.106%	$1.6M	$251K	10x	as long as short
QFEX SMCI-USD	+0.0032%	1h	41.340	−0.106%	$1.1M	$1.9M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.320	−0.155%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.330	−0.130%	$150	$3K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SMCI_USDT_Perp	+0.0060%	8h	41.460	+0.184%	$592	$162K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.310	−0.179%	$461K	$481K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.340	−0.106%	$8K	$285K	10x	as long as short
Binance SMCIUSDT	+0.0108%	8h	41.340	−0.107%	$3.4M	$5.2M	20x	as long as short
Extended SMCI-USD	+0.0112%	1h	41.322	−0.149%	$579	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0115%	8h	41.370	−0.034%	$79K	$9K	20x	as long as short
Paragon para:SMCIshort	+0.0413%	1h	41.347	−0.090%	$159K	$265K	10x