Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0595%/8h= +65.2% APRpaid last 24h +0.107%

Price spread now: GRVT against Injective+0.951%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and GRVT is 0.951% dearer against Injective than usual: you sell high and buy low: +$95 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	41.010	−0.0220	get 0.0028% / 1h	21m 14s	$4K	$97	12x
Short	GRVT SMCI_USDT_Perp	41.400	0.0375	get 0.0375% / 8h	21m 14s	$739	$157K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.951%Rate

Funding earned: $124.95
Price spread: +0.951% → 0.000%: $95.1
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $211.03
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 55 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 GRVT live order book, 55 min ago	4.83 bp	64.1 bp −$64	157.5 bp −$1,575	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	41.010	long leg	$4K	$97	12x
Bybit SMCIUSDT	0.0000%	8h	41.390	+0.927%	$1.0M	$670K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+1.000%	$688K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.380	+0.902%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.389	+0.924%	$1.3M	$532K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.400	+0.951%	$1.6M	$261K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.389	+0.924%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.390	+0.927%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.390	+0.927%	$124	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.380	+0.902%	$159K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SMCI	+0.0097%	8h	41.404	+0.962%	$96K	$109K	—	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.370	+0.878%	$460K	$538K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.410	+0.975%	$8K	$284K	10x	as long as short
BloFin SMCI-USDT	+0.0225%	8h	41.380	+0.902%	$79K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0239%	8h	41.409	+0.973%	$3.4M	$5.5M	20x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.398	+0.945%	$578	$10K	10x	as long as short
GRVT SMCI_USDT_Perpshort	+0.0375%	8h	41.400	+0.951%	$739	$157K	10x