Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%
Price spread now: Injective against Bybit+0.198%78s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
The price spread pays, funding is against you. Injective is 0.198% dearer against Bybit than usual: you sell high and buy low (spread +0.198% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.0 days. The two prices were read 78 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 | Bybit SMCIUSDT | 40.380 | 0 | get 0.0000% / 8h | 7h 26m | $984K | $299K | 25x |
| Short | Injective SMCI/USDC PERP | 40.460 | −0.0220 | pay 0.0028% / 1h | 26m 03s | $4K | $86 | 12x |
Bybit SMCIUSDT
Injective SMCI/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$46.2
- Price spread: +0.198% → 0.000%
- $19.81
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$37.41
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 14 min ago; 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 Bybit live order book, 14 min ago | 3.69 bp | 28.4 bp −$28 | 211.3 bp −$2,113 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | 40.460 | +0.198% | $4K | $86 | 12x | |
| Bitget SMCIUSDT | −0.0075% | 8h | 40.398 | +0.045% | $1.2M | $520K | 20x | as long as short |
| BloFin SMCI-USDT | −0.0019% | 8h | 40.380 | 0.000% | $79K | $9K | 20x | as long as short |
| Extended SMCI-USD | 0.0000% | 1h | 40.408 | +0.069% | $566 | — | 10x | as long as short |
| Binance SMCIUSDT | 0.0000% | 8h | 40.398 | +0.045% | $3.3M | $5.3M | 20x | as long as short |
| Bybit SMCIUSDTlong | 0.0000% | 8h | 40.380 | long leg | $984K | $299K | 25x | |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 40.430 | +0.124% | $672K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 40.390 | +0.025% | $1.5M | $1.4M | 20x | as long as short |
| Variational Omni SMCI | 0.0000% | 8h | 40.378 | −0.004% | $149K | $160K | — | as long as short |
| GRVT SMCI_USDT_Perp | 0.0000% | 8h | 40.359 | −0.053% | $517 | $169K | 10x | as long as short |
Bitget SMCIUSDT
BloFin SMCI-USDT
Extended SMCI-USD
Binance SMCIUSDT
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Variational Omni SMCI
GRVT SMCI_USDT_PerpShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex SMCIUSDT | 0.0000% | 8h | 40.400 | +0.050% | $1.6M | $259K | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 40.389 | +0.022% | $39K | $13K | 10x | as long as short |
| SoDEX SMCI-USD | +0.0050% | 1h | 40.370 | −0.025% | $137 | $3K | 10x | as long as short |
| QFEX SMCI-USD | +0.0054% | 1h | 40.420 | +0.099% | $1.1M | $1.8M | 10x | as long as short |
| KuCoin SMCIUSDTM | +0.0100% | 8h | 40.360 | −0.050% | $454K | $542K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 40.390 | +0.025% | $8K | $289K | 10x | as long as short |
| Paragon para:SMCI | +0.0711% | 1h | 40.457 | +0.191% | $155K | $241K | 10x | as long as short |
Phemex SMCIUSDT
Lighter RH SMCI
SoDEX SMCI-USD
QFEX SMCI-USD
KuCoin SMCIUSDTM
HTX SMCI-USDT
Paragon para:SMCI