Funding you earn now, next payment 04:00 UTC−0.1178%/8h= −129.0% APRnext payment −$1.47 per $10,000 · paid last 24h −0.082%
Price spread now: QFEX against Paragon+0.046%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$181as in the Price arb table
costs, in and out, $10k−$1881.884% of the position
Funding, last 4 days (all we have)+0.056%+$6 on $10k
+Price spread, last 4 days (all we have)0.000%$0 · spread now +0.046%, 7d avg −0.033%
=The price spread pays, funding is against you. QFEX is 0.078% dearer against Paragon than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.033%): +$8 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 5 hours. Mind the row above: over the last 4 days funding on this pair paid +0.056%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.056% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:SMCI | 41.491 | 0.1199 | pay 0.0150% / 1h | 12m 51s | $159K | $265K | 10x |
| Short | QFEX SMCI-USD | 41.510 | 0.0021 | get 0.0003% / 1h | 12m 51s | $1.1M | $1.9M | 10x |
Paragon para:SMCI
QFEX SMCI-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$247.47
- Price spread: +0.046% → −0.033%
- $7.84
- Slippage, 4 orders
- −$168.41
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$428.04
- Costs to cover
- 1.884%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 13 min ago; QFEX: live order book, 4 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, 13 min ago | 53.49 bp | 62.2 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 27.67 bp | 35.1 bp −$35 | 41.8 bp −$418 | 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 | 41.190 | −0.726% | $4K | $93 | 12x | as long as short |
| Bybit SMCIUSDT | 0.0000% | 8h | 41.520 | +0.070% | $1.0M | $647K | 25x | as long as short |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.590 | +0.238% | $690K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.530 | +0.094% | $1.6M | $1.6M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.541 | +0.120% | $1.3M | $503K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.540 | +0.118% | $1.6M | $250K | 10x | as long as short |
| QFEX SMCI-USDshort | +0.0021% | 1h | 41.510 | +0.046% | $1.1M | $1.9M | 10x | |
| Lighter RH SMCI | +0.0032% | 1h | 41.516 | +0.060% | $32K | $5K | 10x | as long as short |
| Variational Omni SMCI | +0.0038% | 8h | 41.553 | +0.149% | $98K | $110K | — | as long as short |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.520 | +0.070% | $148 | $3K | 10x | as long as short |
Injective SMCI/USDC PERP
Bybit SMCIUSDT
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Bitget SMCIUSDT
Phemex SMCIUSDT
Lighter RH SMCI
Variational Omni SMCI
SoDEX SMCI-USDShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.500 | +0.021% | $463K | $481K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.520 | +0.070% | $8K | $285K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0120% | 8h | 41.558 | +0.161% | $307 | $160K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0134% | 8h | 41.550 | +0.142% | $79K | $9K | 20x | as long as short |
| Binance SMCIUSDT | +0.0150% | 8h | 41.531 | +0.097% | $3.4M | $5.2M | 20x | as long as short |
| Extended SMCI-USD | +0.0152% | 1h | 41.521 | +0.073% | $582 | $10K | 10x | as long as short |
| Paragon para:SMCIlong | +0.1199% | 1h | 41.491 | long leg | $159K | $265K | 10x |
KuCoin SMCIUSDTM
HTX SMCI-USDT
GRVT SMCI_USDT_Perp
BloFin SMCI-USDT
Binance SMCIUSDT
Extended SMCI-USD