Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.002%

Price spread now: SoDEX against KuCoin+0.024%53s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on SoDEX

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

The price spread pays, funding is against you. SoDEX is 0.024% dearer against KuCoin than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. The two prices were read 53 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	KuCoin SMCIUSDTM	41.140	0.0100	pay 0.0100% / 8h	4h 55m	$461K	$671K	20x
Short	SoDEX SMCI-USD	41.150	0.0050	get 0.0006% / 1h	55m 18s	$137	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$10.5
Price spread: +0.024% → 0.000%: $2.43
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$28.07
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 41 min ago; SoDEX: 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 KuCoin live order book, 41 min ago	12.16 bp	432.5 bp −$433	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 exchanges

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
Bybit SMCIUSDT	0.0000%	8h	41.130	−0.024%	$1.0M	$294K	25x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.130	−0.024%	$1.5M	$1.3M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.160	+0.049%	$1.3M	$437K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.160	+0.049%	$1.6M	$261K	10x	as long as short
QFEX SMCI-USD	+0.0018%	1h	41.180	+0.097%	$1.1M	$1.8M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.143	+0.007%	$40K	$14K	10x	as long as short
Injective SMCI/USDC PERP	+0.0033%	1h	40.650	−1.191%	$4K	$76	12x	as long as short
SoDEX SMCI-USDshort	+0.0050%	1h	41.150	+0.024%	$137	$3K	10x
Paragon para:SMCI	+0.0060%	1h	41.148	+0.018%	$158K	$241K	10x	as long as short
KuCoin SMCIUSDTMlong	+0.0100%	8h	41.140	long leg	$461K	$671K	20x

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDT	+0.0100%	8h	41.160	+0.049%	$8K	$295K	10x	as long as short
OKX SMCI-USDT-SWAP	+0.0115%	8h	41.140	0.000%	$668K	$1.1M	20x	as long as short
Variational Omni SMCI	+0.0589%	8h	41.159	+0.046%	$151K	$159K	—	as long as short
Binance SMCIUSDT	+0.0675%	8h	41.179	+0.095%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0680%	1h	41.144	+0.009%	$577	—	10x	as long as short
BloFin SMCI-USDT	+0.0714%	8h	41.170	+0.073%	$80K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.1261%	8h	41.190	+0.122%	$69	$166K	10x	as long as short