Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.022%

Price spread now: SoDEX against OKX−0.048%7-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 SoDEX

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—needs both histories

Funding pays, the price is against you. SoDEX is 0.048% cheaper against OKX than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SMCI-USDT-SWAP	41.560	0	get 0.0000% / 8h	5h 02m	$689K	$1.1M	20x
Short	SoDEX SMCI-USD	41.540	0.0050	get 0.0006% / 1h	2m 13s	$144	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $10.5
Price spread: −0.048% → 0.000%: −$4.81
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.31
Costs to cover: 0.180%
Break-even: 15.2 days

Slippage unknown: OKX: live order book, 4 min ago; SoDEX: 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, 4 min ago	4.81 bp	13.3 bp −$13	3747.9 bp −$37.5K	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	41.140	−1.011%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.510	−0.120%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAPlong	0.0000%	8h	41.560	long leg	$689K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.530	−0.072%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.520	−0.096%	$1.3M	$504K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.540	−0.048%	$1.6M	$249K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.532	−0.067%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.540	−0.048%	$1.1M	$2.0M	10x	as long as short
SoDEX SMCI-USDshort	+0.0050%	1h	41.540	−0.048%	$144	$3K	10x
Variational Omni SMCI	+0.0071%	8h	41.552	−0.019%	$98K	$110K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.520	−0.096%	$463K	$478K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.550	−0.024%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0179%	8h	41.570	+0.024%	$489	$156K	10x	as long as short
Extended SMCI-USD	+0.0192%	1h	41.540	−0.049%	$580	$10K	10x	as long as short
Binance SMCIUSDT	+0.0193%	8h	41.550	−0.024%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDT	+0.0222%	8h	41.550	−0.024%	$33K	$9K	20x	as long as short
Paragon para:SMCI	+0.1258%	1h	41.500	−0.145%	$159K	$265K	10x	as long as short