Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Phemex−0.042%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.042% cheaper against Phemex than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 4.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SMCIUSDT	40.910	0	get 0.0000% / 8h	2h 26m	$1.6M	$259K	10x
Short	Lighter RH SMCI	40.893	0.0032	get 0.0004% / 1h	26m 26s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.042%Rate

Funding earned: $6.72
Price spread: −0.042% → 0.000%: −$4.16
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$9.44
Costs to cover: 0.120%
Break-even: 16.8 days

Slippage unknown: Phemex: live order book, 2 min ago; Lighter RH: no order-book sample. Net counts fees only.

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, 2 min ago	2.44 bp	44.4 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH no order-book sample	—	—	—	—	—

Lighter RH: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	40.600	−0.758%	$4K	$91	12x	as long as short
Bitget SMCIUSDT	−0.0126%	8h	40.929	+0.046%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.890	−0.049%	$995K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.900	−0.024%	$676K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	+0.024%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.989	+0.192%	$116K	$130K	—	as long as short
Phemex SMCIUSDTlong	0.0000%	8h	40.910	long leg	$1.6M	$259K	10x
Lighter RH SMCIshort	+0.0032%	1h	40.893	−0.042%	$32K	$5K	10x
SoDEX SMCI-USD	+0.0050%	1h	40.890	−0.049%	$150	$3K	10x	as long as short
Binance SMCIUSDT	+0.0055%	8h	40.911	+0.001%	$3.4M	$5.3M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SMCI-USD	+0.0056%	1h	40.907	−0.007%	$573	$10K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	40.910	0.000%	$1.1M	$1.8M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.915	+0.012%	$157K	$266K	10x	as long as short
BloFin SMCI-USDT	+0.0067%	8h	40.950	+0.098%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0073%	8h	40.990	+0.196%	$427	$166K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.900	−0.024%	$457K	$465K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.930	+0.049%	$8K	$285K	10x	as long as short