Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.022%

Price spread now: Phemex against SoDEX+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 SoDEX Short on Phemex

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. Phemex is 0.122% dearer against SoDEX 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 −$2 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SMCI-USD	41.070	0.0050	pay 0.0006% / 1h	52m 32s	$142	$3K	10x
Short	Phemex SMCIUSDT	41.120	0	get 0.0000% / 8h	1h 52m	$1.6M	$262K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$10.5
Price spread: +0.122% → 0.000%: $12.17
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.33
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	2.43 bp	49.2 bp −$49	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 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	40.630	−1.071%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0139%	8h	41.090	+0.049%	$1.3M	$470K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.060	−0.024%	$1.0M	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.080	+0.024%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.080	+0.024%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.083	+0.031%	$117K	$127K	—	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	41.120	+0.122%	$1.6M	$262K	10x
BloFin SMCI-USDT	+0.0026%	8h	41.110	+0.097%	$79K	$9K	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.045	−0.061%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0040%	1h	41.093	+0.055%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SMCIUSDT	+0.0041%	8h	41.103	+0.081%	$3.4M	$5.4M	20x	as long as short
SoDEX SMCI-USDlong	+0.0050%	1h	41.070	long leg	$142	$3K	10x
QFEX SMCI-USD	+0.0075%	1h	41.070	0.000%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0088%	8h	41.088	+0.044%	$379	$168K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.060	−0.024%	$460K	$481K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.100	+0.073%	$8K	$285K	10x	as long as short
Paragon para:SMCI	+0.0112%	1h	41.050	−0.049%	$158K	$266K	10x	as long as short