Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h −0.015%

Price spread now: Bitget against QFEX+0.076%7-day average +0.045% · 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−$268as in the Price arb table

costs, in and out, $10k−$2712.707% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.076%, 7d avg +0.045%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.030% dearer against QFEX than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of +0.045%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 4 days (−0.022% in total) that is about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.970	0.0056	pay 0.0007% / 1h	33m 30s	$1.1M	$1.8M	10x
Short	Bitget SMCIUSDT	41.001	−0.0059	pay 0.0059% / 8h	2h 33m	$1.3M	$501K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$24.22
Price spread: +0.076% → +0.045%: $3.04
Slippage, 4 orders: −$248.67
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$291.85
Costs to cover: 2.707%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Bitget: 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, 3 min ago	2.44 bp	9.9 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	8.04 bp	231.7 bp −$232	476.2 bp −$4,762	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	40.730	−0.586%	$4K	$90	12x	as long as short
Bitget SMCIUSDTshort	−0.0059%	8h	41.001	+0.076%	$1.3M	$501K	20x
Bybit SMCIUSDT	0.0000%	8h	40.950	−0.049%	$997K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.950	−0.049%	$683K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.980	+0.024%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.019	+0.119%	$116K	$130K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.990	+0.049%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.973	+0.007%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.980	+0.024%	$152	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0052%	8h	41.030	+0.146%	$80K	$9K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SMCI-USDlong	+0.0056%	1h	40.970	long leg	$1.1M	$1.8M	10x
Paragon para:SMCI	+0.0060%	1h	40.947	−0.055%	$157K	$267K	10x	as long as short
Extended SMCI-USD	+0.0064%	1h	40.989	+0.048%	$576	$10K	10x	as long as short
Binance SMCIUSDT	+0.0064%	8h	41.006	+0.088%	$3.4M	$5.3M	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0079%	8h	41.040	+0.171%	$465	$166K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.950	−0.049%	$457K	$465K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.970	0.000%	$8K	$285K	10x	as long as short