Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0362%/8h= +39.6% APRpaid last 24h +0.051%

Price spread now: Paragon against BloFin−0.158%89s7-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 Paragon

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Paragon is 0.158% cheaper against BloFin than usual: you would sell low and buy high (spread −0.158% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 35 hours of funding at the current rate (+$11 a day). The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SMCI-USDT	40.950	0.0014	pay 0.0014% / 8h	51m 35s	$80K	$9K	20x
Short	Paragon para:SMCI	40.885	0.0376	get 0.0047% / 1h	51m 35s	$157K	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.158%Rate

Funding earned: $76.03
Price spread: −0.158% → 0.000%: −$15.85
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: $38.18
Costs to cover: 0.220%
Break-even: 3.5 days

Slippage unknown: BloFin: no order-book sample; Paragon: live order book, 4 min ago. 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 Paragon live order book, 4 min ago	19.43 bp	24.4 bp −$24	106.0 bp −$1,060	doesn't fit	doesn't fit

BloFin: 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 PERP	−0.0220%	1h	40.590	−0.879%	$4K	$87	12x	as long as short
Bitget SMCIUSDT	−0.0168%	8h	40.891	−0.144%	$1.3M	$506K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.888	−0.151%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.899	−0.123%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.880	−0.171%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.890	−0.147%	$678K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.890	−0.147%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.932	−0.043%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.910	−0.098%	$1.6M	$259K	10x	as long as short
BloFin SMCI-USDTlong	+0.0014%	8h	40.950	long leg	$80K	$9K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.885	−0.159%	$36K	$9K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.890	−0.147%	$130	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0060%	8h	40.920	−0.073%	$540	$169K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.920	−0.073%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.870	−0.195%	$459K	$504K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.910	−0.098%	$8K	$286K	10x	as long as short
Paragon para:SMCIshort	+0.0376%	1h	40.885	−0.158%	$157K	$266K	10x