Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.044%

Price spread now: HTX against Paragon+0.195%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1481.477% of the position

Long on Paragon Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now +0.195%, 7d avg +0.021%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.174% dearer against Paragon than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.021%. Mind the row above: over the last 7 days funding on this pair cost −0.064%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:SMCI	40.880	0.0060	pay 0.0008% / 1h	15m 08s	$157K	$240K	10x
Short	HTX SMCI-USDT	40.960	0.0100	get 0.0100% / 8h	6h 15m	$8K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.195%Rate

Funding earned: $8.4
Price spread: +0.195% → +0.021%: $17.36
Slippage, 4 orders: −$125.66
Fee Paragon: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$121.9
Costs to cover: 1.477%
Break-even: 108.6 days

Slippage from Paragon: live order book, 27 min ago; HTX: live order book, 34 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, 27 min ago	29.00 bp	34.0 bp −$34	94.7 bp −$947	doesn't fit	doesn't fit
Sell HTX live order book, 34 min ago	20.75 bp	46.2 bp −$46	81.8 bp −$818	doesn't fit	doesn't fit

SMCI on 17 exchanges

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
Bybit SMCIUSDT	0.0000%	8h	40.890	+0.023%	$995K	$296K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.920	+0.097%	$667K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	+0.097%	$1.5M	$1.4M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	40.891	+0.026%	$1.3M	$472K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.960	+0.195%	$1.6M	$260K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.950	+0.170%	$40K	$14K	10x	as long as short
Injective SMCI/USDC PERP	+0.0033%	1h	40.650	−0.564%	$4K	$84	12x	as long as short
Paragon para:SMCIlong	+0.0060%	1h	40.880	long leg	$157K	$240K	10x
QFEX SMCI-USD	+0.0067%	1h	40.950	+0.170%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.900	+0.048%	$458K	$601K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDTshort	+0.0100%	8h	40.960	+0.195%	$8K	$291K	10x
Variational Omni SMCI	+0.0212%	8h	40.971	+0.222%	$150K	$160K	—	as long as short
BloFin SMCI-USDT	+0.0321%	8h	40.940	+0.146%	$79K	$9K	20x	as long as short
Extended SMCI-USD	+0.0328%	1h	40.957	+0.188%	$574	—	10x	as long as short
Binance SMCIUSDT	+0.0330%	8h	40.970	+0.219%	$3.4M	$5.3M	20x	as long as short
SoDEX SMCI-USD	+0.0407%	1h	40.950	+0.170%	$134	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.1275%	8h	40.915	+0.084%	$521	$166K	10x	as long as short