Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.008%

Price spread now: Variational Omni against Lighter RH+0.003%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 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 · Variational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SMCI	41.403	0.0032	pay 0.0004% / 1h	17m 46s	$32K	$5K	10x
Short	Variational Omni SMCI	41.404	0.0097	get 0.0097% / 8h	17m 46s	$96K	$109K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.003%Rate

Funding earned: $13.68
Price spread: +0.003% → 0.000%: $0.34
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $14.02
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter RH: no order-book sample; Variational Omni: RFQ quote, 36 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 Variational Omni RFQ quote, 36 min ago	3.74 bp	doesn't fit	87.9 bp −$879	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	41.010	−0.949%	$4K	$97	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.410	+0.017%	$1.0M	$670K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+0.041%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.400	−0.007%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.393	−0.024%	$1.3M	$532K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.420	+0.041%	$1.6M	$262K	10x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	41.403	long leg	$32K	$5K	10x
QFEX SMCI-USD	+0.0041%	1h	41.410	+0.017%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.410	+0.017%	$124	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.380	−0.056%	$159K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SMCIshort	+0.0097%	8h	41.404	+0.003%	$96K	$109K	—
KuCoin SMCIUSDTM	+0.0100%	8h	41.390	−0.031%	$461K	$537K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.430	+0.065%	$8K	$284K	10x	as long as short
BloFin SMCI-USDT	+0.0209%	8h	41.410	+0.017%	$79K	$9K	20x	as long as short
Extended SMCI-USD	+0.0232%	1h	41.418	+0.037%	$578	$10K	10x	as long as short
Binance SMCIUSDT	+0.0234%	8h	41.425	+0.054%	$3.4M	$5.5M	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0375%	8h	41.400	−0.007%	$739	$157K	10x	as long as short