Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.015%

Price spread now: Gate against QFEX−0.072%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$2222.222% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days+0.068%+$7 · spread now −0.072%, 7d avg 0.000%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.072% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.510	0.0043	pay 0.0005% / 1h	45m 42s	$1.1M	$2.2M	10x
Short	Gate SMCI_USDT	41.480	0	get 0.0000% / 8h	6h 45m	$1.6M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.072%Rate

Funding earned: −$9
Price spread: −0.072% → 0.000%: −$7.21
Slippage, 4 orders: −$197.17
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$238.38
Costs to cover: 2.222%
Break-even: never at this rate

Slippage from QFEX: live order book, 1 min ago; Gate: 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 QFEX live order book, 1 min ago	2.41 bp	7.4 bp −$7	16.3 bp −$163	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	8.44 bp	57.8 bp −$58	doesn't fit	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	41.150	−0.867%	$4K	$94	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.500	−0.024%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.520	+0.024%	$690K	$1.1M	20x	as long as short
Gate SMCI_USDTshort	0.0000%	8h	41.480	−0.072%	$1.6M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.509	−0.002%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.520	+0.024%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.510	0.000%	$32K	$5K	10x	as long as short
QFEX SMCI-USDlong	+0.0043%	1h	41.510	long leg	$1.1M	$2.2M	10x
SoDEX SMCI-USD	+0.0050%	1h	41.510	0.000%	$136	$3K	10x	as long as short
Variational Omni SMCI	+0.0084%	8h	41.534	+0.057%	$97K	$109K	—	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	41.480	−0.072%	$462K	$512K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.570	+0.145%	$8K	$284K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0144%	8h	41.566	+0.135%	$503	$154K	10x	as long as short
Extended SMCI-USD	+0.0224%	1h	41.519	+0.022%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0225%	8h	41.530	+0.048%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0230%	8h	41.590	+0.193%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.1040%	1h	41.597	+0.209%	$160K	$265K	10x	as long as short