Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: KuCoin against Lighter RH−0.112%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.112% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 5.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SMCI	40.946	0.0032	pay 0.0004% / 1h	15m 21s	$40K	$14K	10x
Short	KuCoin SMCIUSDTM	40.900	0.0100	get 0.0100% / 8h	6h 15m	$458K	$601K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now −0.112%Rate

Funding earned: $14.28
Price spread: −0.112% → 0.000%: −$11.23
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8.95
Costs to cover: 0.120%
Break-even: 11.4 days

Slippage unknown: Lighter RH: no order-book sample; KuCoin: live order book, 30 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 Lighter RH no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 30 min ago	11.00 bp	400.7 bp −$401	doesn't fit	doesn't fit	doesn't fit

Lighter RH: 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	40.890	−0.137%	$995K	$296K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.920	−0.063%	$667K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	−0.063%	$1.5M	$1.4M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	40.890	−0.137%	$1.3M	$472K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.960	+0.034%	$1.6M	$260K	10x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	40.946	long leg	$40K	$14K	10x
Injective SMCI/USDC PERP	+0.0033%	1h	40.650	−0.723%	$4K	$84	12x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.880	−0.160%	$157K	$240K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.950	+0.010%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTMshort	+0.0100%	8h	40.900	−0.112%	$458K	$601K	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	40.890	−0.137%	$8K	$291K	10x	as long as short
Variational Omni SMCI	+0.0212%	8h	40.971	+0.062%	$150K	$160K	—	as long as short
BloFin SMCI-USDT	+0.0323%	8h	40.940	−0.015%	$80K	$9K	20x	as long as short
Extended SMCI-USD	+0.0328%	1h	40.958	+0.028%	$574	—	10x	as long as short
Binance SMCIUSDT	+0.0330%	8h	40.970	+0.059%	$3.4M	$5.3M	20x	as long as short
SoDEX SMCI-USD	+0.0390%	1h	40.930	−0.039%	$134	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.1275%	8h	40.915	−0.076%	$521	$166K	10x	as long as short