Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX−0.099%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1701.695% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.099%, 7d avg −0.052%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.047% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SMCI-USDT-SWAP	40.430	0	get 0.0000% / 8h	7h 25m	$672K	$1.1M	20x
Short	Bybit SMCIUSDT	40.390	0	get 0.0000% / 8h	7h 25m	$985K	$299K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.052%: −$4.74
Slippage, 4 orders: −$148.53
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$174.27
Costs to cover: 1.695%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Bybit: live order book, 15 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 OKX live order book, 1 min ago	8.67 bp	47.2 bp −$47	4605.9 bp −$46.1K	doesn't fit	doesn't fit
Sell Bybit live order book, 15 min ago	3.69 bp	39.7 bp −$40	195.8 bp −$1,958	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	40.460	+0.074%	$4K	$86	12x	as long as short
Bitget SMCIUSDT	−0.0073%	8h	40.393	−0.092%	$1.2M	$509K	20x	as long as short
BloFin SMCI-USDT	−0.0019%	8h	40.380	−0.124%	$79K	$9K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.408	−0.053%	$566	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.420	−0.025%	$3.3M	$5.3M	20x	as long as short
Bybit SMCIUSDTshort	0.0000%	8h	40.390	−0.099%	$985K	$299K	25x
OKX SMCI-USDT-SWAPlong	0.0000%	8h	40.430	long leg	$672K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	40.400	−0.074%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.402	−0.069%	$149K	$160K	—	as long as short
GRVT SMCI_USDT_Perp	0.0000%	8h	40.377	−0.131%	$517	$169K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex SMCIUSDT	0.0000%	8h	40.400	−0.074%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.390	−0.099%	$39K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.370	−0.148%	$137	$3K	10x	as long as short
QFEX SMCI-USD	+0.0054%	1h	40.390	−0.099%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.360	−0.173%	$454K	$543K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.390	−0.099%	$8K	$289K	10x	as long as short
Paragon para:SMCI	+0.0697%	1h	40.439	+0.022%	$155K	$241K	10x	as long as short