Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.015%

Price spread now: HTX against QFEX+0.122%7-day average +0.049% · 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−$296as in the Price arb table

costs, in and out, $10k−$3033.032% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.122%, 7d avg +0.049%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.073% dearer against QFEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.900	0.0056	pay 0.0007% / 1h	24m 08s	$1.1M	$1.8M	10x
Short	HTX SMCI-USDT	40.950	0.0100	get 0.0100% / 8h	2h 24m	$8K	$285K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.122%Rate

Funding earned: $9.17
Price spread: +0.122% → +0.049%: $7.33
Slippage, 4 orders: −$281.18
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$286.68
Costs to cover: 3.032%
Break-even: 225.8 days

Slippage from QFEX: live order book, 3 min ago; HTX: live order book, 23 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	103.87 bp	111.3 bp −$111	118.1 bp −$1,181	doesn't fit	doesn't fit
Sell HTX live order book, 23 min ago	13.35 bp	46.0 bp −$46	81.1 bp −$811	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	40.600	−0.733%	$4K	$91	12x	as long as short
Bitget SMCIUSDT	−0.0150%	8h	40.929	+0.071%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.920	+0.049%	$996K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.910	+0.024%	$679K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	+0.049%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.883	−0.041%	$116K	$130K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.950	+0.122%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.919	+0.046%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0048%	1h	40.936	+0.088%	$573	$9K	10x	as long as short
Binance SMCIUSDT	+0.0050%	8h	40.950	+0.123%	$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
SoDEX SMCI-USD	+0.0050%	1h	40.920	+0.049%	$150	$3K	10x	as long as short
QFEX SMCI-USDlong	+0.0056%	1h	40.900	long leg	$1.1M	$1.8M	10x
BloFin SMCI-USDT	+0.0060%	8h	40.940	+0.098%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.909	+0.021%	$157K	$266K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0073%	8h	40.990	+0.220%	$427	$166K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.910	+0.024%	$457K	$465K	20x	as long as short
HTX SMCI-USDTshort	+0.0100%	8h	40.950	+0.122%	$8K	$285K	10x