Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.063%

Price spread now: Paragon against HTX−0.150%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1471.468% of the position

Long on HTX Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.150%, 7d avg −0.012%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paragon is 0.138% cheaper against HTX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.074%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SMCI-USDT	41.210	0.0100	pay 0.0100% / 8h	2h 50m	$8K	$285K	10x
Short	Paragon para:SMCI	41.148	0.0060	get 0.0008% / 1h	50m 02s	$158K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$8.4
Price spread: −0.150% → −0.012%: −$13.82
Slippage, 4 orders: −$124.83
Fee HTX: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$169.04
Costs to cover: 1.468%
Break-even: never at this rate

Slippage from HTX: 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 HTX live order book, 62 min ago	20.52 bp	33.2 bp −$33	68.2 bp −$682	doesn't fit	doesn't fit
Sell Paragon live order book, 25 min ago	28.75 bp	33.9 bp −$34	106.6 bp −$1,066	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	40.730	−1.165%	$4K	$90	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.190	−0.049%	$1.0M	$306K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.230	+0.049%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.200	−0.024%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.195	−0.036%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.223	+0.031%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.210	0.000%	$1.6M	$258K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.198	−0.029%	$32K	$5K	10x	as long as short
BloFin SMCI-USDT	+0.0051%	8h	41.240	+0.073%	$80K	$9K	20x	as long as short
QFEX SMCI-USD	+0.0056%	1h	41.240	+0.073%	$1.1M	$1.8M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:SMCIshort	+0.0060%	1h	41.148	−0.150%	$158K	$265K	10x
GRVT SMCI_USDT_Perp	+0.0060%	8h	41.210	0.000%	$483	$165K	10x	as long as short
Binance SMCIUSDT	+0.0078%	8h	41.227	+0.042%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.222	+0.029%	$576	$10K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.180	−0.073%	$460K	$468K	20x	as long as short
HTX SMCI-USDTlong	+0.0100%	8h	41.210	long leg	$8K	$285K	10x
SoDEX SMCI-USD	+0.0295%	1h	41.200	−0.024%	$152	$3K	10x	as long as short