Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.110%

Price spread now: Variational Omni against SoDEX+0.048%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.048% dearer against SoDEX than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SMCI-USD	41.410	0.0118	pay 0.0015% / 1h	44m 55s	$124	$3K	10x
Short	Variational Omni SMCI	41.430	0.0097	get 0.0097% / 8h	44m 55s	$96K	$110K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.048%Rate

Funding earned: −$4.53
Price spread: +0.048% → 0.000%: $4.79
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.74
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 9 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 Variational Omni RFQ quote, 9 min ago	3.74 bp	doesn't fit	87.9 bp −$879	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	41.000	−0.990%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.390	−0.048%	$1.0M	$655K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.400	−0.024%	$688K	$1.2M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.400	−0.024%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.407	−0.007%	$1.3M	$534K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.430	+0.048%	$1.6M	$266K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.419	+0.022%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.430	+0.048%	$1.1M	$2.3M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.375	−0.085%	$159K	$265K	10x	as long as short
Variational Omni SMCIshort	+0.0097%	8h	41.430	+0.048%	$96K	$110K	—

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.380	−0.072%	$462K	$542K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.480	+0.169%	$8K	$283K	10x	as long as short
SoDEX SMCI-USDlong	+0.0118%	1h	41.410	long leg	$124	$3K	10x
Extended SMCI-USD	+0.0248%	1h	41.433	+0.055%	$578	$10K	10x	as long as short
Binance SMCIUSDT	+0.0249%	8h	41.441	+0.075%	$3.4M	$5.5M	20x	as long as short
BloFin SMCI-USDT	+0.0277%	8h	41.430	+0.048%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0390%	8h	41.407	−0.006%	$512	$158K	10x	as long as short