Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0218%/8h= +23.8% APRpaid last 24h +0.100%

Price spread now: Paragon against OKX−0.052%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1841.839% of the position

Long on OKX Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.290%+$29 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.052%, 7d avg +0.026%

Together, before fees+0.224%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.078% cheaper against OKX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.026%). If the spread goes back, that is −$8 on $10k: about 29 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SMCI-USDT-SWAP	41.180	0	get 0.0000% / 8h	3h 17m	$684K	$1.1M	20x
Short	Paragon para:SMCI	41.159	0.0218	get 0.0027% / 1h	17m 04s	$158K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.052%Rate

Funding earned: $45.74
Price spread: −0.052% → +0.026%: −$7.82
Slippage, 4 orders: −$163.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$146
Costs to cover: 1.839%
Break-even: 29.3 days

Slippage from OKX: live order book, 4 min ago; Paragon: live order book, 68 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, 4 min ago	6.05 bp	20.5 bp −$20	3840.0 bp −$38.4K	doesn't fit	doesn't fit
Sell Paragon live order book, 68 min ago	53.49 bp	58.5 bp −$58	doesn't fit	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	40.820	−0.874%	$4K	$92	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.170	−0.024%	$1.0M	$306K	25x	as long as short
OKX SMCI-USDT-SWAPlong	0.0000%	8h	41.180	long leg	$684K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.200	+0.049%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.194	+0.034%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.273	+0.225%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.220	+0.097%	$1.6M	$255K	10x	as long as short
QFEX SMCI-USD	+0.0032%	1h	41.210	+0.073%	$1.1M	$1.8M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.184	+0.010%	$32K	$5K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0036%	8h	41.240	+0.147%	$325	$164K	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	41.190	+0.024%	$145	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0054%	8h	41.210	+0.073%	$79K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0080%	8h	41.225	+0.110%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.194	+0.034%	$576	$10K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.160	−0.049%	$459K	$474K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.200	+0.049%	$8K	$286K	10x	as long as short
Paragon para:SMCIshort	+0.0218%	1h	41.159	−0.052%	$158K	$265K	10x