Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.015%

Price spread now: OKX against QFEX−0.024%7-day average +0.046% · 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−$108as in the Price arb table

costs, in and out, $10k−$1011.012% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −0.024%, 7d avg +0.046%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.071% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.990	0.0075	pay 0.0009% / 1h	38m 49s	$1.1M	$1.8M	10x
Short	OKX SMCI-USDT-SWAP	40.980	0	get 0.0000% / 8h	1h 38m	$684K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$15.79
Price spread: −0.024% → +0.046%: −$7.06
Slippage, 4 orders: −$81.19
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$124.05
Costs to cover: 1.012%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; OKX: 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	3.66 bp	8.7 bp −$9	16.1 bp −$161	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.22 bp	38.9 bp −$39	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	40.640	−0.854%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0135%	8h	41.014	+0.059%	$1.3M	$465K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.940	−0.122%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAPshort	0.0000%	8h	40.980	−0.024%	$684K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	40.960	−0.073%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.007%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.970	−0.049%	$1.6M	$262K	10x	as long as short
BloFin SMCI-USDT	+0.0030%	8h	41.040	+0.122%	$80K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0030%	8h	40.970	−0.049%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.951	−0.095%	$32K	$5K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SMCI-USD	+0.0032%	1h	40.960	−0.074%	$576	—	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.960	−0.073%	$134	$3K	10x	as long as short
Paragon para:SMCI	+0.0068%	1h	40.924	−0.161%	$157K	$266K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0075%	8h	41.000	+0.024%	$123	$170K	10x	as long as short
QFEX SMCI-USDlong	+0.0075%	1h	40.990	long leg	$1.1M	$1.8M	10x
KuCoin SMCIUSDTM	+0.0100%	8h	40.950	−0.098%	$459K	$484K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.960	−0.073%	$8K	$285K	10x	as long as short