Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h +0.034%

Price spread now: Paragon against GRVT−0.118%47s7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1361.362% of the position

Long on GRVT Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now −0.118%, 7d avg +0.031%

Together, before fees+0.307%+ Points / potential airdropGRVT: Active · farm board+$31 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paragon is 0.149% cheaper against GRVT than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.031%. The two prices were read 47 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	GRVT SMCI_USDT_Perp	41.010	0.0079	pay 0.0079% / 8h	1h 40m	$584	$169K	10x
Short	Paragon para:SMCI	40.962	0.0073	get 0.0009% / 1h	40m 39s	$157K	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$1.22
Price spread: −0.118% → +0.031%: −$14.86
Slippage, 4 orders: −$117.25
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$152.32
Costs to cover: 1.362%
Break-even: never at this rate

Slippage from GRVT: live order book, 62 min ago; Paragon: live order book, 25 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 GRVT live order book, 62 min ago	7.30 bp	56.9 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 25 min ago	28.73 bp	33.7 bp −$34	105.2 bp −$1,052	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	−0.902%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0133%	8h	41.014	+0.010%	$1.3M	$465K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.970	−0.098%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.980	−0.073%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.960	−0.122%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	−0.042%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.980	−0.073%	$1.6M	$263K	10x	as long as short
Binance SMCIUSDT	+0.0031%	8h	40.990	−0.049%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.992	−0.044%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0032%	1h	40.981	−0.071%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	40.980	−0.073%	$134	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0056%	8h	41.030	+0.049%	$80K	$9K	20x	as long as short
Paragon para:SMCIshort	+0.0073%	1h	40.962	−0.118%	$157K	$266K	10x
QFEX SMCI-USD	+0.0075%	1h	40.980	−0.073%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perplong	+0.0079%	8h	41.010	long leg	$584	$169K	10x
KuCoin SMCIUSDTM	+0.0100%	8h	40.970	−0.098%	$459K	$485K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.000	−0.024%	$8K	$285K	10x	as long as short