Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0182%/8h= −20.0% APRpaid last 24h −0.078%

Price spread now: Gate against Paragon−0.012%49s7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$980.981% of the position

Long on Paragon Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.012%, 7d avg −0.059%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.048% dearer against Paragon than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.059%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 21 hours. The two prices were read 49 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	Paragon para:SMCI	40.855	0.0182	pay 0.0023% / 1h	16m 51s	$157K	$266K	10x
Short	Gate SMCI_USDT	40.850	0	get 0.0000% / 8h	16m 51s	$1.5M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.012%Rate

Funding earned: −$38.28
Price spread: −0.012% → −0.059%: $4.77
Slippage, 4 orders: −$73.07
Fee Paragon: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$131.57
Costs to cover: 0.981%
Break-even: never at this rate

Slippage from Paragon: live order book, 39 min ago; Gate: live order book, 1 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	19.43 bp	24.5 bp −$25	124.6 bp −$1,246	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	8.57 bp	29.3 bp −$29	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	40.550	−0.746%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0161%	8h	40.865	+0.025%	$1.3M	$501K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.869	+0.036%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.875	+0.050%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.860	+0.013%	$995K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.820	−0.085%	$674K	$1.1M	20x	as long as short
Gate SMCI_USDTshort	0.0000%	8h	40.850	−0.012%	$1.5M	$1.4M	20x
Variational Omni SMCI	0.0000%	8h	40.873	+0.044%	$124K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.880	+0.062%	$1.6M	$260K	10x	as long as short
BloFin SMCI-USDT	0.0000%	8h	40.940	+0.209%	$80K	$9K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.851	−0.009%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.860	+0.013%	$132	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0067%	8h	40.897	+0.104%	$677	$170K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.870	+0.037%	$1.1M	$1.7M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.850	−0.012%	$459K	$514K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.860	+0.013%	$8K	$287K	10x	as long as short
Paragon para:SMCIlong	+0.0182%	1h	40.855	long leg	$157K	$266K	10x