Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.096%

Price spread now: Injective against HTX−0.891%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 0.891% cheaper against HTX than usual: you would sell low and buy high (−$89 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	HTX SMCI-USDT	41.520	0.0100	pay 0.0100% / 8h	6h 47m	$8K	$284K	10x
Short	Injective SMCI/USDC PERP	41.150	−0.0220	pay 0.0028% / 1h	47m 18s	$4K	$94	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now −0.891%Rate

Funding earned: −$67.2
Price spread: −0.891% → 0.000%: −$89.11
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$168.33
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 20 min ago; Injective: 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 HTX live order book, 20 min ago	15.60 bp	46.0 bp −$46	114.2 bp −$1,142	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	41.150	−0.891%	$4K	$94	12x
Bybit SMCIUSDT	0.0000%	8h	41.490	−0.072%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.540	+0.048%	$691K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.490	−0.072%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.509	−0.026%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.520	0.000%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.477	−0.104%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0043%	1h	41.490	−0.072%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.510	−0.024%	$137	$3K	10x	as long as short
Variational Omni SMCI	+0.0089%	8h	41.529	+0.021%	$97K	$109K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.460	−0.145%	$462K	$512K	20x	as long as short
HTX SMCI-USDTlong	+0.0100%	8h	41.520	long leg	$8K	$284K	10x
GRVT SMCI_USDT_Perp	+0.0144%	8h	41.566	+0.111%	$503	$154K	10x	as long as short
Binance SMCIUSDT	+0.0223%	8h	41.519	−0.003%	$3.4M	$5.1M	20x	as long as short
Extended SMCI-USD	+0.0224%	1h	41.506	−0.033%	$583	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0230%	8h	41.590	+0.169%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.0892%	1h	41.553	+0.080%	$159K	$265K	10x	as long as short