Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.003%

Price spread now: Lighter RH against Variational Omni+0.006%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 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 · Lighter RH: Points live · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SMCI	40.864	0	get 0.0000% / 8h	13m 16s	$124K	$134K	—
Short	Lighter RH SMCI	40.866	0.0032	get 0.0004% / 1h	13m 16s	$40K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. 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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now +0.006%Rate

Funding earned: $6.72
Price spread: +0.006% → 0.000%: $0.57
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $7.29
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter RH: no order-book sample. 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 Variational Omni RFQ quote, 1 min ago	5.75 bp	doesn't fit	77.1 bp −$771	doesn't fit	doesn't fit
Sell Lighter RH no order-book sample	—	—	—	—	—

Lighter RH: 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	40.550	−0.768%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0163%	8h	40.873	+0.023%	$1.3M	$501K	20x	as long as short
BloFin SMCI-USDT	−0.0007%	8h	40.940	+0.187%	$79K	$9K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.880	+0.040%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.890	+0.064%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.880	+0.040%	$995K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.820	−0.107%	$674K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.860	−0.009%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCIlong	0.0000%	8h	40.864	long leg	$124K	$134K	—
Phemex SMCIUSDT	0.0000%	8h	40.890	+0.064%	$1.6M	$258K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCIshort	+0.0032%	1h	40.866	+0.006%	$40K	$13K	10x
SoDEX SMCI-USD	+0.0050%	1h	40.880	+0.040%	$132	$3K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.880	+0.040%	$1.1M	$1.7M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0068%	8h	40.890	+0.064%	$148	$170K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.860	−0.009%	$460K	$517K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.900	+0.089%	$8K	$286K	10x	as long as short
Paragon para:SMCI	+0.0219%	1h	40.882	+0.044%	$157K	$266K	10x	as long as short