Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.041%

Price spread now: Lighter RH against GRVT−0.050%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Lighter RH: Points live · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.050% cheaper against GRVT than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SMCI_USDT_Perp	40.908	0.0063	pay 0.0063% / 8h	49m 36s	$535	$169K	10x
Short	Lighter RH SMCI	40.887	0.0032	get 0.0004% / 1h	49m 36s	$40K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against GRVT. 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 GRVTbpFee Lighter RHbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$6.51
Price spread: −0.050% → 0.000%: −$5.01
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$20.52
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 47 min ago; 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 GRVT live order book, 47 min ago	4.88 bp	36.3 bp −$36	doesn't fit	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	40.570	−0.825%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0170%	8h	40.925	+0.043%	$1.3M	$506K	20x	as long as short
BloFin SMCI-USDT	−0.0024%	8h	40.950	+0.104%	$80K	$9K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.929	+0.052%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.940	+0.079%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.900	−0.018%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.890	−0.043%	$677K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.890	−0.043%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.902	−0.013%	$116K	$125K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.920	+0.031%	$1.6M	$259K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCIshort	+0.0032%	1h	40.887	−0.050%	$40K	$13K	10x
SoDEX SMCI-USD	+0.0050%	1h	40.910	+0.006%	$130	$3K	10x	as long as short
GRVT SMCI_USDT_Perplong	+0.0063%	8h	40.908	long leg	$535	$169K	10x
QFEX SMCI-USD	+0.0067%	1h	40.930	+0.055%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.870	−0.092%	$459K	$504K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.950	+0.104%	$8K	$286K	10x	as long as short
Paragon para:SMCI	+0.0374%	1h	40.906	−0.003%	$157K	$266K	10x	as long as short