Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.2% APRpaid last 24h +0.015%

Price spread now: QFEX against Bitget+0.109%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1381.376% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.185%−$18 · spread now +0.109%, 7d avg −0.047%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.156% dearer against Bitget than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SMCIUSDT	41.195	0	get 0.0000% / 8h	2h 50m	$1.3M	$501K	20x
Short	QFEX SMCI-USD	41.240	0.0056	get 0.0007% / 1h	50m 26s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.109%Rate

Funding earned: $11.83
Price spread: +0.109% → −0.047%: $15.62
Slippage, 4 orders: −$115.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$110.1
Costs to cover: 1.376%
Break-even: 72.2 days

Slippage from Bitget: live order book, 1 min ago; QFEX: 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 Bitget live order book, 1 min ago	6.91 bp	15.6 bp −$16	31.3 bp −$313	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	3.64 bp	11.3 bp −$11	21.8 bp −$218	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	40.730	−1.129%	$4K	$90	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.200	+0.012%	$1.0M	$306K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.230	+0.085%	$688K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.200	+0.012%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDTlong	0.0000%	8h	41.195	long leg	$1.3M	$501K	20x
Variational Omni SMCI	0.0000%	8h	41.223	+0.067%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.220	+0.061%	$1.6M	$258K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.195	0.000%	$32K	$5K	10x	as long as short
BloFin SMCI-USDT	+0.0051%	8h	41.240	+0.109%	$80K	$9K	20x	as long as short
QFEX SMCI-USDshort	+0.0056%	1h	41.240	+0.109%	$1.1M	$1.8M	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:SMCI	+0.0060%	1h	41.148	−0.114%	$158K	$265K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0060%	8h	41.210	+0.036%	$483	$165K	10x	as long as short
Binance SMCIUSDT	+0.0078%	8h	41.236	+0.100%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.225	+0.074%	$576	$10K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.170	−0.061%	$460K	$468K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.200	+0.012%	$8K	$285K	10x	as long as short
SoDEX SMCI-USD	+0.0343%	1h	41.220	+0.061%	$152	$3K	10x	as long as short