Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Bybit+0.053%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.053% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SMCIUSDT	41.130	0	get 0.0000% / 8h	2h 04m	$1.0M	$292K	25x
Short	Lighter RH SMCI	41.152	0.0032	get 0.0004% / 1h	4m 53s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now +0.053%Rate

Funding earned: $6.72
Price spread: +0.053% → 0.000%: $5.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $1.07
Costs to cover: 0.110%
Break-even: 5.9 days

Slippage unknown: Bybit: live order book, just now; Lighter RH: 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, just now	6.08 bp	71.4 bp −$71	220.5 bp −$2,205	doesn't fit	doesn't fit
Sell Lighter RH no order-book sample	—	—	—	—	—

Lighter RH: 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	40.630	−1.216%	$4K	$93	12x	as long as short
Bitget SMCIUSDT	−0.0159%	8h	41.121	−0.022%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDTlong	0.0000%	8h	41.130	long leg	$1.0M	$292K	25x
OKX SMCI-USDT-SWAP	0.0000%	8h	41.180	+0.122%	$687K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.150	+0.049%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.188	+0.141%	$117K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.160	+0.073%	$1.6M	$262K	10x	as long as short
Lighter RH SMCIshort	+0.0032%	1h	41.152	+0.053%	$32K	$5K	10x
BloFin SMCI-USDT	+0.0050%	8h	41.180	+0.122%	$79K	$9K	20x	as long as short
QFEX SMCI-USD	+0.0056%	1h	41.170	+0.097%	$1.1M	$1.8M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:SMCI	+0.0060%	1h	41.124	−0.014%	$158K	$266K	10x	as long as short
Binance SMCIUSDT	+0.0063%	8h	41.140	+0.024%	$3.4M	$5.4M	20x	as long as short
Extended SMCI-USD	+0.0064%	1h	41.128	−0.004%	$576	—	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.110	−0.049%	$461K	$473K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.140	+0.024%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0103%	8h	41.180	+0.122%	$649	$168K	10x	as long as short
SoDEX SMCI-USD	+0.0121%	1h	41.130	0.000%	$143	$3K	10x	as long as short