Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.093%

Price spread now: BloFin against Injective+0.962%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

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 for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.962% dearer against Injective than usual: you sell high and buy low: +$96 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SMCI/USDC PERP	40.550	−0.0220	get 0.0028% / 1h	16m 31s	$4K	$89	12x
Short	BloFin SMCI-USDT	40.940	0.0000	get 0.0000% / 8h	16m 31s	$80K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.962%Rate

Funding earned: $46.3
Price spread: +0.962% → 0.000%: $96.18
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $130.46
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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 PERPlong	−0.0220%	1h	40.550	long leg	$4K	$89	12x
Bitget SMCIUSDT	−0.0163%	8h	40.865	+0.777%	$1.3M	$501K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.867	+0.782%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.879	+0.811%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.860	+0.764%	$995K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.820	+0.666%	$674K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.850	+0.740%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.873	+0.796%	$124K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.880	+0.814%	$1.6M	$260K	10x	as long as short
BloFin SMCI-USDTshort	0.0000%	8h	40.940	+0.962%	$80K	$9K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.845	+0.727%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.860	+0.764%	$132	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0067%	8h	40.897	+0.857%	$677	$170K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.870	+0.789%	$1.1M	$1.7M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.850	+0.740%	$459K	$514K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.860	+0.764%	$8K	$287K	10x	as long as short
Paragon para:SMCI	+0.0190%	1h	40.855	+0.753%	$157K	$266K	10x	as long as short