Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.043%

Price spread now: KuCoin against Paragon−0.008%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$829as in the Funding arb table

Net, price: spread back to 7d avg − costs−$806as in the Price arb table

costs, in and out, $10k−$8138.130% of the position

Long on Paragon Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.008%, 7d avg −0.075%

Together, before fees−0.143%−$14 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 KuCoin is 0.067% dearer against Paragon than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.075%. Mind the row above: over the last 7 days funding on this pair cost −0.157%, 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	41.153	0.0060	pay 0.0008% / 1h	56m 45s	$158K	$241K	10x
Short	KuCoin SMCIUSDTM	41.150	0.0100	get 0.0100% / 8h	4h 56m	$461K	$670K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.008%Rate

Funding earned: $8.4
Price spread: −0.008% → −0.075%: $6.66
Slippage, 4 orders: −$791
Fee Paragon: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$797.94
Costs to cover: 8.130%
Break-even: 671.9 days

Slippage from Paragon: live order book, 42 min ago; KuCoin: live order book, 39 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, 42 min ago	29.07 bp	34.1 bp −$34	94.8 bp −$948	doesn't fit	doesn't fit
Sell KuCoin live order book, 39 min ago	12.16 bp	312.3 bp −$312	doesn't fit	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	41.180	+0.065%	$1.0M	$295K	25x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.170	+0.040%	$1.5M	$1.3M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.160	+0.016%	$1.3M	$437K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.170	+0.040%	$1.6M	$261K	10x	as long as short
QFEX SMCI-USD	+0.0018%	1h	41.180	+0.065%	$1.1M	$1.8M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.147	−0.016%	$40K	$14K	10x	as long as short
Injective SMCI/USDC PERP	+0.0033%	1h	40.650	−1.223%	$4K	$76	12x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.160	+0.016%	$137	$3K	10x	as long as short
Paragon para:SMCIlong	+0.0060%	1h	41.153	long leg	$158K	$241K	10x
KuCoin SMCIUSDTMshort	+0.0100%	8h	41.150	−0.008%	$461K	$670K	20x

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDT	+0.0100%	8h	41.190	+0.089%	$8K	$295K	10x	as long as short
OKX SMCI-USDT-SWAP	+0.0119%	8h	41.230	+0.186%	$670K	$1.1M	20x	as long as short
Variational Omni SMCI	+0.0606%	8h	41.169	+0.038%	$151K	$159K	—	as long as short
Extended SMCI-USD	+0.0680%	1h	41.156	+0.006%	$577	—	10x	as long as short
Binance SMCIUSDT	+0.0683%	8h	41.170	+0.040%	$3.4M	$5.3M	20x	as long as short
BloFin SMCI-USDT	+0.0714%	8h	41.170	+0.040%	$80K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.1345%	8h	41.200	+0.113%	$69	$166K	10x	as long as short