Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.015%

Price spread now: QFEX against Bybit+0.073%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1951.955% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.032%+$3 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.073%, 7d avg +0.007%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.066% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SMCIUSDT	41.030	0	get 0.0000% / 8h	1h 46m	$999K	$293K	25x
Short	QFEX SMCI-USD	41.060	0.0075	get 0.0009% / 1h	46m 49s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $15.79
Price spread: +0.073% → +0.007%: $6.63
Slippage, 4 orders: −$174.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$173.07
Costs to cover: 1.955%
Break-even: 83.7 days

Slippage from Bybit: live order book, 3 min ago; QFEX: live order book, 5 min ago.

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, 3 min ago	4.87 bp	87.9 bp −$88	207.2 bp −$2,072	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.43 bp	7.4 bp −$7	17.2 bp −$172	doesn't fit	doesn't fit

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	40.640	−0.951%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0131%	8h	41.063	+0.080%	$1.3M	$466K	20x	as long as short
Bybit SMCIUSDTlong	0.0000%	8h	41.030	long leg	$999K	$293K	25x
OKX SMCI-USDT-SWAP	0.0000%	8h	41.080	+0.122%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.060	+0.073%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.078	+0.118%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.080	+0.122%	$1.6M	$263K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.053	+0.056%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0040%	1h	41.059	+0.071%	$576	—	10x	as long as short
Binance SMCIUSDT	+0.0041%	8h	41.069	+0.095%	$3.4M	$5.4M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SMCI-USDT	+0.0044%	8h	41.080	+0.122%	$80K	$9K	20x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.060	+0.073%	$139	$3K	10x	as long as short
QFEX SMCI-USDshort	+0.0075%	1h	41.060	+0.073%	$1.1M	$1.8M	10x
GRVT SMCI_USDT_Perp	+0.0083%	8h	41.100	+0.171%	$596	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.040	+0.024%	$461K	$485K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.120	+0.219%	$8K	$285K	10x	as long as short
Paragon para:SMCI	+0.0101%	1h	41.026	−0.009%	$158K	$266K	10x	as long as short