Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Gate against Injective+0.980%54s7-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 Gate

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 Gate is 0.980% dearer against Injective than usual: you sell high and buy low: +$98 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 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	Injective SMCI/USDC PERP	40.800	−0.0220	get 0.0028% / 1h	52m 15s	$4K	$89	12x
Short	Gate SMCI_USDT	41.200	0	get 0.0000% / 8h	2h 52m	$1.5M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.980%Rate

Funding earned: $46.2
Price spread: +0.980% → 0.000%: $98.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $129.22
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 min ago. 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 Gate live order book, 5 min ago	18.24 bp	40.2 bp −$40	doesn't fit	doesn't fit	doesn't fit

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 PERPlong	−0.0220%	1h	40.800	long leg	$4K	$89	12x
Bybit SMCIUSDT	0.0000%	8h	41.200	+0.980%	$1.0M	$306K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.180	+0.931%	$687K	$1.1M	20x	as long as short
Gate SMCI_USDTshort	0.0000%	8h	41.200	+0.980%	$1.5M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.195	+0.968%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.183	+0.938%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.210	+1.005%	$1.6M	$258K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.200	+0.980%	$32K	$5K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0045%	8h	41.126	+0.798%	$223	$164K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	41.220	+1.029%	$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:SMCI	+0.0060%	1h	41.155	+0.870%	$158K	$265K	10x	as long as short
BloFin SMCI-USDT	+0.0070%	8h	41.210	+1.005%	$80K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0076%	8h	41.237	+1.072%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.226	+1.043%	$576	$10K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.170	+0.907%	$460K	$468K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.240	+1.078%	$8K	$285K	10x	as long as short
SoDEX SMCI-USD	+0.0374%	1h	41.220	+1.029%	$151	$3K	10x	as long as short