Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h −0.012%

Price spread now: QFEX against BloFin−0.098%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 QFEX

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

Funding pays, the price is against you. QFEX is 0.098% cheaper against BloFin than usual: you would sell low and buy high (spread −0.098% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SMCI-USDT	40.950	−0.0024	get 0.0024% / 8h	49m 50s	$80K	$9K	20x
Short	QFEX SMCI-USD	40.910	0.0067	get 0.0008% / 1h	49m 50s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.098%Rate

Funding earned: $19.18
Price spread: −0.098% → 0.000%: −$9.77
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$12.59
Costs to cover: 0.220%
Break-even: 11.6 days

Slippage unknown: BloFin: no order-book sample; QFEX: live order book, 2 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 QFEX live order book, 2 min ago	3.67 bp	11.1 bp −$11	16.8 bp −$168	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	40.570	−0.928%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0170%	8h	40.922	−0.068%	$1.3M	$506K	20x	as long as short
BloFin SMCI-USDTlong	−0.0024%	8h	40.950	long leg	$80K	$9K	20x
Extended SMCI-USD	0.0000%	1h	40.929	−0.051%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.950	0.000%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.900	−0.122%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.890	−0.147%	$677K	$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	40.902	−0.117%	$116K	$125K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.920	−0.073%	$1.6M	$259K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.887	−0.154%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.910	−0.098%	$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-USDshort	+0.0067%	1h	40.910	−0.098%	$1.1M	$1.8M	10x
KuCoin SMCIUSDTM	+0.0100%	8h	40.870	−0.195%	$459K	$504K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.950	0.000%	$8K	$286K	10x	as long as short
Paragon para:SMCI	+0.0374%	1h	40.906	−0.106%	$157K	$266K	10x	as long as short