Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0172%/8h= −18.9% APRpaid last 24h −0.005%

Price spread now: SoDEX against BloFin−0.024%56s7-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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 −$5 a day on $10k at the current rate, and SoDEX is 0.024% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 56 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	41.550	0.0222	pay 0.0222% / 8h	5h 02m	$33K	$9K	20x
Short	SoDEX SMCI-USD	41.540	0.0050	get 0.0006% / 1h	2m 10s	$144	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$36.21
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$58.62
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—

BloFin and SoDEX: 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	41.140	−0.987%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.510	−0.096%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.560	+0.024%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.530	−0.048%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.520	−0.072%	$1.3M	$504K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.540	−0.024%	$1.6M	$249K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.532	−0.043%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.540	−0.024%	$1.1M	$2.0M	10x	as long as short
SoDEX SMCI-USDshort	+0.0050%	1h	41.540	−0.024%	$144	$3K	10x
Variational Omni SMCI	+0.0071%	8h	41.552	+0.005%	$98K	$110K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.520	−0.072%	$463K	$478K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.550	0.000%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0179%	8h	41.570	+0.048%	$489	$156K	10x	as long as short
Extended SMCI-USD	+0.0192%	1h	41.540	−0.025%	$580	$10K	10x	as long as short
Binance SMCIUSDT	+0.0193%	8h	41.550	0.000%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDTlong	+0.0222%	8h	41.550	long leg	$33K	$9K	20x
Paragon para:SMCI	+0.1258%	1h	41.500	−0.121%	$159K	$265K	10x	as long as short