Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.015%

Price spread now: QFEX against KuCoin−0.024%7-day average +0.050% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$560as in the Price arb table

costs, in and out, $10k−$5535.529% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.024%, 7d avg +0.050%

Together, before fees+0.039%+$4 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 QFEX is 0.075% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SMCIUSDTM	40.910	0.0100	pay 0.0100% / 8h	2h 24m	$457K	$465K	20x
Short	QFEX SMCI-USD	40.900	0.0056	get 0.0007% / 1h	24m 05s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$9.17
Price spread: −0.024% → +0.050%: −$7.45
Slippage, 4 orders: −$530.86
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$569.49
Costs to cover: 5.529%
Break-even: never at this rate

Slippage from KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	14.62 bp	223.1 bp −$223	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	103.87 bp	109.3 bp −$109	118.5 bp −$1,185	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	40.600	−0.758%	$4K	$91	12x	as long as short
Bitget SMCIUSDT	−0.0150%	8h	40.940	+0.073%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.920	+0.024%	$996K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.910	0.000%	$679K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	+0.024%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.883	−0.065%	$116K	$130K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.950	+0.098%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.919	+0.022%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0048%	1h	40.942	+0.077%	$573	$8K	10x	as long as short
Binance SMCIUSDT	+0.0050%	8h	40.952	+0.103%	$3.4M	$5.3M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	40.920	+0.024%	$150	$3K	10x	as long as short
QFEX SMCI-USDshort	+0.0056%	1h	40.900	−0.024%	$1.1M	$1.8M	10x
BloFin SMCI-USDT	+0.0060%	8h	40.940	+0.073%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.909	−0.003%	$157K	$266K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0073%	8h	40.990	+0.196%	$427	$166K	10x	as long as short
KuCoin SMCIUSDTMlong	+0.0100%	8h	40.910	long leg	$457K	$465K	20x
HTX SMCI-USDT	+0.0100%	8h	40.950	+0.098%	$8K	$285K	10x	as long as short