Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0300%/8h= −32.8% APRpaid last 24h −0.067%

Price spread now: Binance against Paragon−0.028%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1471.470% of the position

Long on Paragon Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 4 days (all we have)+0.258%+$26 · spread now −0.028%, 7d avg −0.001%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.027% cheaper against Paragon than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:SMCI	41.341	0.0405	pay 0.0051% / 1h	46m 30s	$159K	$265K	10x
Short	Binance SMCIUSDT	41.329	0.0105	get 0.0105% / 8h	3h 46m	$3.4M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Paragon. 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 ParagonbpFee BinancebpOrdersPrice spread, now −0.028%Rate

Funding earned: −$63
Price spread: −0.028% → −0.001%: −$2.68
Slippage, 4 orders: −$126.96
Fee Paragon: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$212.64
Costs to cover: 1.470%
Break-even: never at this rate

Slippage from Paragon: live order book, 39 min ago; Binance: live order book, 6 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 Paragon live order book, 39 min ago	53.49 bp	62.2 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.41 bp	11.9 bp −$12	58.0 bp −$580	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	41.060	−0.679%	$4K	$91	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.310	−0.075%	$1.0M	$652K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.320	−0.051%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.320	−0.051%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.330	−0.026%	$1.3M	$495K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.378	+0.089%	$97K	$110K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.360	+0.046%	$1.6M	$252K	10x	as long as short
QFEX SMCI-USD	+0.0032%	1h	41.320	−0.051%	$1.1M	$1.9M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.325	−0.038%	$32K	$5K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0045%	8h	41.334	−0.016%	$184	$163K	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	41.350	+0.022%	$149	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0097%	8h	41.350	+0.022%	$79K	$9K	20x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.330	−0.026%	$461K	$481K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.380	+0.095%	$8K	$285K	10x	as long as short
Extended SMCI-USD	+0.0104%	1h	41.318	−0.055%	$579	$10K	10x	as long as short
Binance SMCIUSDTshort	+0.0105%	8h	41.329	−0.028%	$3.4M	$5.2M	20x
Paragon para:SMCIlong	+0.0405%	1h	41.341	long leg	$159K	$265K	10x