Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.061%

Price spread now: Paragon against KuCoin−0.034%7-day average +0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$474as in the Funding arb table

Net, price: spread back to 7d avg − costs−$501as in the Price arb table

costs, in and out, $10k−$4894.891% of the position

Long on KuCoin Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.034%, 7d avg +0.086%

Together, before fees+0.173%+$17 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 0.119% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.086%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.152%, 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	KuCoin SMCIUSDTM	41.580	0.0100	pay 0.0100% / 8h	6h 57m	$463K	$518K	20x
Short	Paragon para:SMCI	41.566	0.0060	get 0.0008% / 1h	57m 35s	$160K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against KuCoin. 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 KuCoinbpFee ParagonbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$8.4
Price spread: −0.034% → +0.086%: −$11.94
Slippage, 4 orders: −$467.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$509.47
Costs to cover: 4.891%
Break-even: never at this rate

Slippage from KuCoin: live order book, 55 min ago; Paragon: live order book, 58 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 KuCoin live order book, 55 min ago	18.06 bp	224.2 bp −$224	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 58 min ago	25.27 bp	30.3 bp −$30	109.8 bp −$1,098	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	41.240	−0.818%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.580	0.000%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.600	+0.048%	$693K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.580	0.000%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.600	+0.048%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.590	+0.024%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.570	−0.024%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0043%	1h	41.570	−0.024%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.600	+0.048%	$138	$3K	10x	as long as short
Paragon para:SMCIshort	+0.0060%	1h	41.566	−0.034%	$160K	$265K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTMlong	+0.0100%	8h	41.580	long leg	$463K	$518K	20x
HTX SMCI-USDT	+0.0100%	8h	41.600	+0.048%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.199%	$97K	$109K	—	as long as short
Binance SMCIUSDT	+0.0238%	8h	41.600	+0.048%	$3.4M	$5.1M	20x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.575	−0.013%	$583	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+0.265%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0282%	8h	41.652	+0.174%	$422	$154K	10x	as long as short