Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0319%/8h= −34.9% APRpaid last 24h −0.092%

Price spread now: Injective against BloFin−0.894%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 0.894% cheaper against BloFin than usual: you would sell low and buy high (−$89 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SMCI-USDT	41.370	0.0099	pay 0.0099% / 8h	1h 05m	$79K	$9K	20x
Short	Injective SMCI/USDC PERP	41.000	−0.0220	pay 0.0028% / 1h	5m 44s	$4K	$99	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.894%Rate

Funding earned: −$66.9
Price spread: −0.894% → 0.000%: −$89.44
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$168.36
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; Injective: no order-book sample. Net counts fees only.

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 BloFin no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

BloFin and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.0220%	1h	41.000	−0.894%	$4K	$99	12x
Bybit SMCIUSDT	0.0000%	8h	41.350	−0.048%	$1.0M	$656K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+0.121%	$689K	$1.2M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.360	−0.024%	$1.6M	$1.9M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.385	+0.036%	$1.3M	$533K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.384	+0.035%	$67K	$81K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.410	+0.097%	$1.6M	$266K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.385	+0.036%	$32K	$7K	10x	as long as short
QFEX SMCI-USD	+0.0049%	1h	41.410	+0.097%	$1.1M	$2.3M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.340	−0.073%	$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
BloFin SMCI-USDTlong	+0.0099%	8h	41.370	long leg	$79K	$9K	20x
KuCoin SMCIUSDTM	+0.0100%	8h	41.340	−0.073%	$461K	$545K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.440	+0.169%	$8K	$284K	10x	as long as short
SoDEX SMCI-USD	+0.0110%	1h	41.380	+0.024%	$130	$3K	10x	as long as short
Binance SMCIUSDT	+0.0133%	8h	41.411	+0.100%	$3.4M	$5.5M	20x	as long as short
Extended SMCI-USD	+0.0136%	1h	41.405	+0.084%	$578	$10K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0264%	8h	41.400	+0.073%	$348	$158K	10x	as long as short