Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.039%

Price spread now: Phemex against Extended+0.027%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Phemex

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 airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.027% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it 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	Extended SMCI-USD	40.899	0	get 0.0000% / 1h	50m 38s	$573	—	10x
Short	Phemex SMCIUSDT	40.910	0	get 0.0000% / 8h	50m 38s	$1.6M	$259K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → 0.000%: $2.68
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Phemex: 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 Extended no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	3.67 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit

Extended: 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	−0.805%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0170%	8h	40.891	−0.020%	$1.3M	$506K	20x	as long as short
BloFin SMCI-USDT	−0.0024%	8h	40.950	+0.125%	$80K	$9K	20x	as long as short
Extended SMCI-USDlong	0.0000%	1h	40.899	long leg	$573	—	10x
Binance SMCIUSDT	0.0000%	8h	40.909	+0.024%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.890	−0.022%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.890	−0.022%	$678K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.890	−0.022%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.902	+0.007%	$116K	$125K	—	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	40.910	+0.027%	$1.6M	$259K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.885	−0.034%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.890	−0.022%	$130	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0060%	8h	40.920	+0.051%	$540	$169K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.920	+0.051%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.860	−0.095%	$459K	$504K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.910	+0.027%	$8K	$286K	10x	as long as short
Paragon para:SMCI	+0.0374%	1h	40.885	−0.034%	$157K	$266K	10x	as long as short