Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.022%

Price spread now: OKX against SoDEX+0.072%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 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. OKX is 0.072% dearer against SoDEX than usual: you sell high and buy low (spread +0.072% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SMCI-USD	41.530	0.0050	pay 0.0006% / 1h	52m 04s	$140	$3K	10x
Short	OKX SMCI-USDT-SWAP	41.560	0	get 0.0000% / 8h	5h 52m	$690K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SoDEX. 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 SoDEXbpFee OKXbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$10.5
Price spread: +0.072% → 0.000%: $7.22
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.28
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 4 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	4.81 bp	19.5 bp −$20	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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 16 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	−0.915%	$4K	$92	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.510	−0.048%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAPshort	0.0000%	8h	41.560	+0.072%	$690K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.510	−0.048%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.516	−0.034%	$1.3M	$505K	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	41.512	−0.043%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.530	0.000%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USDlong	+0.0050%	1h	41.530	long leg	$140	$3K	10x
Variational Omni SMCI	+0.0065%	8h	41.553	+0.056%	$98K	$110K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.490	−0.096%	$462K	$499K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.540	+0.024%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0195%	8h	41.532	+0.005%	$29	$154K	10x	as long as short
Binance SMCIUSDT	+0.0207%	8h	41.539	+0.023%	$3.4M	$5.1M	20x	as long as short
Extended SMCI-USD	+0.0208%	1h	41.529	−0.002%	$580	$10K	10x	as long as short
Paragon para:SMCI	+0.1497%	1h	41.500	−0.073%	$159K	$265K	10x	as long as short