Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex−0.041%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1591.587% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.041%, 7d avg +0.012%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.053% cheaper against Phemex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SMCIUSDT	41.560	0	get 0.0000% / 8h	5h 08m	$1.6M	$249K	10x
Short	Bitget SMCIUSDT	41.543	0	get 0.0000% / 8h	5h 08m	$1.3M	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.012%: −$5.27
Slippage, 4 orders: −$134.7
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$163.97
Costs to cover: 1.587%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bitget: live order book, 2 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 Phemex live order book, 4 min ago	3.61 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	7.46 bp	50.9 bp −$51	67.0 bp −$670	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	41.140	−1.011%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.510	−0.120%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.540	−0.048%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.550	−0.024%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDTshort	0.0000%	8h	41.543	−0.041%	$1.3M	$504K	20x
Phemex SMCIUSDTlong	0.0000%	8h	41.560	long leg	$1.6M	$249K	10x
Lighter RH SMCI	+0.0032%	1h	41.542	−0.043%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.550	−0.024%	$1.1M	$2.0M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.540	−0.048%	$144	$3K	10x	as long as short
Variational Omni SMCI	+0.0063%	8h	41.572	+0.029%	$98K	$110K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.520	−0.096%	$462K	$479K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.580	+0.048%	$8K	$284K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0163%	8h	41.570	+0.024%	$489	$156K	10x	as long as short
Extended SMCI-USD	+0.0192%	1h	41.559	−0.002%	$580	$10K	10x	as long as short
Binance SMCIUSDT	+0.0195%	8h	41.560	0.000%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDT	+0.0206%	8h	41.560	0.000%	$32K	$9K	20x	as long as short
Paragon para:SMCI	+0.1277%	1h	41.500	−0.145%	$159K	$265K	10x	as long as short