Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Phemex against Lighter RH+0.032%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.032% dearer against Lighter RH than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SMCI	41.247	0.0032	pay 0.0004% / 1h	15m 07s	$32K	$5K	10x
Short	Phemex SMCIUSDT	41.260	0	get 0.0000% / 8h	3h 15m	$1.6M	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$6.72
Price spread: +0.032% → 0.000%: $3.15
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.57
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter RH: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	3.64 bp	43.7 bp −$44	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 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	40.820	−1.035%	$4K	$92	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.220	−0.065%	$1.0M	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.180	−0.162%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.220	−0.065%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.252	+0.012%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.253	+0.014%	$107K	$120K	—	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	41.260	+0.032%	$1.6M	$256K	10x
QFEX SMCI-USD	+0.0032%	1h	41.270	+0.056%	$1.1M	$1.8M	10x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	41.247	long leg	$32K	$5K	10x
GRVT SMCI_USDT_Perp	+0.0037%	8h	41.209	−0.093%	$186	$165K	10x	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	41.250	+0.007%	$144	$3K	10x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.259	+0.028%	$576	$10K	10x	as long as short
Binance SMCIUSDT	+0.0083%	8h	41.260	+0.032%	$3.4M	$5.3M	20x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.200	−0.114%	$460K	$474K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.280	+0.080%	$8K	$286K	10x	as long as short
BloFin SMCI-USDT	+0.0105%	8h	41.280	+0.080%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0220%	1h	41.214	−0.080%	$158K	$265K	10x	as long as short