Funding you earn now, next payment 00:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.017%
Price spread now: Binance against QFEX+0.005%7-day average +0.036% · 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−$47as in the Price arb table
costs, in and out, $10k−$440.443% of the position
Funding, last 3 days (all we have)+0.013%+$1 on $10k
+Price spread, last 2 days (all we have)−0.028%−$3 · spread now +0.005%, 7d avg +0.036%
=Funding pays, the price is against you. Binance is 0.031% cheaper against QFEX than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.036%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.013% in total) that is about 8.4 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.013% in total (about 1.3% a year). A funding rate is set anew for every payment. 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 | QFEX SMCI-USD | 41.410 | 0.0041 | pay 0.0005% / 1h | 20m 16s | $1.1M | $2.3M | 10x |
| Short | Binance SMCIUSDT | 41.412 | 0.0237 | get 0.0237% / 8h | 20m 16s | $3.4M | $5.5M | 20x |
QFEX SMCI-USD
Binance SMCIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against QFEX. 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
- $41.2
- Price spread: +0.005% → +0.036%
- −$3.1
- Slippage, 4 orders
- −$24.26
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$6.15
- Costs to cover
- 0.443%
- Break-even
- 8.0 days
Slippage from QFEX: live order book, 2 min ago; Binance: live order book, 3 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 QFEX live order book, 2 min ago | 3.62 bp | 8.8 bp −$9 | 18.1 bp −$181 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 1.21 bp | 11.2 bp −$11 | 57.5 bp −$575 | 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 | 41.010 | −0.966% | $4K | $97 | 12x | as long as short |
| Bybit SMCIUSDT | 0.0000% | 8h | 41.390 | −0.048% | $1.0M | $670K | 25x | as long as short |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.420 | +0.024% | $688K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.390 | −0.048% | $1.6M | $1.8M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.391 | −0.046% | $1.3M | $532K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.410 | 0.000% | $1.6M | $261K | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.389 | −0.051% | $32K | $5K | 10x | as long as short |
| QFEX SMCI-USDlong | +0.0041% | 1h | 41.410 | long leg | $1.1M | $2.3M | 10x | |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.400 | −0.024% | $124 | $3K | 10x | as long as short |
| Paragon para:SMCI | +0.0060% | 1h | 41.370 | −0.097% | $159K | $265K | 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
SoDEX SMCI-USD
Paragon para:SMCIShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SMCI | +0.0097% | 8h | 41.404 | −0.013% | $96K | $109K | — | as long as short |
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.370 | −0.097% | $460K | $537K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.420 | +0.024% | $8K | $284K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0225% | 8h | 41.380 | −0.072% | $79K | $9K | 20x | as long as short |
| Binance SMCIUSDTshort | +0.0237% | 8h | 41.412 | +0.005% | $3.4M | $5.5M | 20x | |
| Extended SMCI-USD | +0.0240% | 1h | 41.403 | −0.016% | $578 | $10K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0375% | 8h | 41.400 | −0.024% | $739 | $157K | 10x | as long as short |
Variational Omni SMCI
KuCoin SMCIUSDTM
HTX SMCI-USDT
BloFin SMCI-USDT
Extended SMCI-USD
GRVT SMCI_USDT_Perp