Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.5% APRpaid last 24h −0.015%

Price spread now: QFEX against HTX0.000%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.088%−$9 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now 0.000%, 7d avg −0.050%

Together, before fees−0.140%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.050% dearer against HTX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.050%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SMCI-USDT	41.340	0.0100	pay 0.0100% / 8h	3h 48m	$8K	$285K	10x
Short	QFEX SMCI-USD	41.340	0.0032	get 0.0004% / 1h	48m 23s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$14.33
Price spread: 0.000% → −0.050%: $4.98
Slippage, 4 orders: −$81.97
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$113.32
Costs to cover: 1.040%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; QFEX: live order book, 3 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, 4 min ago	20.52 bp	33.2 bp −$33	68.2 bp −$682	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.42 bp	12.3 bp −$12	23.7 bp −$237	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	41.060	−0.677%	$4K	$91	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.320	−0.048%	$1.0M	$647K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.350	+0.024%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.330	−0.024%	$1.5M	$1.5M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.384	+0.106%	$1.3M	$495K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.378	+0.091%	$97K	$110K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.340	0.000%	$1.6M	$251K	10x	as long as short
QFEX SMCI-USDshort	+0.0032%	1h	41.340	0.000%	$1.1M	$1.9M	10x
Lighter RH SMCI	+0.0032%	1h	41.320	−0.048%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.330	−0.024%	$148	$3K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SMCI_USDT_Perp	+0.0060%	8h	41.460	+0.291%	$592	$162K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.310	−0.073%	$461K	$481K	20x	as long as short
HTX SMCI-USDTlong	+0.0100%	8h	41.340	long leg	$8K	$285K	10x
Extended SMCI-USD	+0.0104%	1h	41.339	−0.003%	$579	$10K	10x	as long as short
Binance SMCIUSDT	+0.0108%	8h	41.347	+0.016%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDT	+0.0115%	8h	41.370	+0.073%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0413%	1h	41.347	+0.016%	$159K	$265K	10x	as long as short