Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against OKX−1.071%98s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.071% cheaper against OKX than usual: you would sell low and buy high (−$107 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 98 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	OKX SMCI-USDT-SWAP	41.080	0	get 0.0000% / 8h	1h 49m	$686K	$1.1M	20x
Short	Injective SMCI/USDC PERP	40.640	−0.0220	pay 0.0028% / 1h	49m 49s	$4K	$89	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.071%Rate

Funding earned: −$46.2
Price spread: −1.071% → 0.000%: −$107.11
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$163.33
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 min ago; Injective: 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 OKX live order book, 2 min ago	7.30 bp	37.6 bp −$38	4355.6 bp −$43.6K	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	40.640	−1.071%	$4K	$89	12x
Bitget SMCIUSDT	−0.0136%	8h	41.092	+0.029%	$1.3M	$466K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.060	−0.049%	$999K	$294K	25x	as long as short
OKX SMCI-USDT-SWAPlong	0.0000%	8h	41.080	long leg	$686K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.070	−0.024%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.078	−0.004%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.070	−0.024%	$1.6M	$263K	10x	as long as short
BloFin SMCI-USDT	+0.0014%	8h	41.120	+0.097%	$80K	$9K	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.092	+0.029%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0040%	1h	41.095	+0.038%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SMCIUSDT	+0.0041%	8h	41.113	+0.081%	$3.4M	$5.4M	20x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.070	−0.024%	$141	$3K	10x	as long as short
QFEX SMCI-USD	+0.0075%	1h	41.060	−0.049%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0085%	8h	41.105	+0.062%	$79	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.080	0.000%	$461K	$483K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.080	0.000%	$8K	$285K	10x	as long as short
Paragon para:SMCI	+0.0118%	1h	41.053	−0.066%	$158K	$266K	10x	as long as short