Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h +0.012%

Price spread now: BloFin against QFEX+0.122%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. BloFin is 0.122% dearer against QFEX than usual: you sell high and buy low (spread +0.122% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.980	0.0075	pay 0.0009% / 1h	40m 49s	$1.1M	$1.8M	10x
Short	BloFin SMCI-USDT	41.030	0.0056	get 0.0056% / 8h	1h 40m	$80K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$4.07
Price spread: +0.122% → 0.000%: $12.2
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$13.87
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 6 min ago; BloFin: 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 QFEX live order book, 6 min ago	2.44 bp	12.3 bp −$12	20.6 bp −$206	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	40.640	−0.830%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0132%	8h	41.014	+0.083%	$1.3M	$466K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.970	−0.024%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.980	0.000%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.980	0.000%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.031%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.980	0.000%	$1.6M	$263K	10x	as long as short
Binance SMCIUSDT	+0.0031%	8h	40.990	+0.024%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.992	+0.029%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0032%	1h	40.981	+0.002%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	40.980	0.000%	$134	$3K	10x	as long as short
BloFin SMCI-USDTshort	+0.0056%	8h	41.030	+0.122%	$80K	$9K	20x
Paragon para:SMCI	+0.0073%	1h	40.962	−0.045%	$157K	$266K	10x	as long as short
QFEX SMCI-USDlong	+0.0075%	1h	40.980	long leg	$1.1M	$1.8M	10x
GRVT SMCI_USDT_Perp	+0.0079%	8h	41.010	+0.073%	$584	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.960	−0.049%	$459K	$486K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.000	+0.049%	$8K	$285K	10x	as long as short