SMH

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	KuCoinSMHUSDTM	461.62	0	0.0000% / 8h	7h 42m	$7K	$979K	20x	Long KuCoin
SHORT	Paragonpara:SMH	454.00	−0.6271	pay 0.0784% / 1h	42m 16s	$91K	$92K	10x	Short Paragon

Price gap−1.650%

Funding gap−0.6271% /8h

Both sides work against this direction now: funding costs $188 a day on $10k and the gap is 1.559% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$119−0.6271% /8h now · paid +1.188% over the last 7D

Price−$156spread −1.650% now, avg −0.091% → −1.559% if it goes back

Costs−$1,38613.859% of $10k · taker + slippage, in and out

Result−$1,423−14.23%no points

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +1.188% in total, about +0.0566%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−1.650%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SMH on 14 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

Watch: Thin at this size364.9 / 426.7 bp
At $10k entering Paragon costs 426.7 bp, fee and slippage, 1.2× KuCoin’s.
Note: Margin at max leverage$500 + $1,000
KuCoin 20x, Paragon 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ8h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$188.13Long KuCoin: 3 payments, $0.00; short Paragon: 24 payments, −$188.13.
Watch: Gap narrower than usual−1.650% vs −0.091%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$7K vs $91K OI
KuCoin sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKuCoin Yes · Paragon No
Standard KYC (ID and face check) for any product since Aug 2023.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0566%/8h × 21 periods+$118.85

Price spread−1.650% → −0.091% (7d avg)−$155.90

Slippage, 4 orderslive order books−$1,372.07

Fee KuCoin bp × 2 orders−$12.00

Fee Paragon bp × 2 orders−$1.80

Net · 7 days · $10k−$1,422.93

Costs to cover13.859%Break-even90.8 days

Slippage: KuCoin: live order book, 30 min ago; Paragon: live order book, 16 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKuCoin11.82364.9 bp−$365doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTParagon267.02426.7 bp−$427doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

SMH news

posts that mention SMH, from every exchange

11-04 19:30	Vest Markets	Other	Big tech is carrying $NQ today. $MSFT, $AMZN and $AAPL are up 6.3% to 7.3%, together they are about 28% of the Nasdaq 100. Chips are pulling the other way. $NVDA, the biggest weight at about 12.5%, is down 1.3%, and the chip ETF SMH is down 2.5%. That leaves $NQ up about 1.2%. When five names make up nearly half the index, a split like this is the whole story. @VestExchange on X ↗
10-20 12:55	SoDEX	Other	🏆 THE RESULTS ARE IN! 🎉 The community has spoken! soUSDC is the winner of our Treasure Box vote! 🥇 soUSDC — 78.4% 🥈 VOO — 12.2% 🥉 SMH — 9.4% 🎁 soUSDC will be featured in every Treasure Box this Thursday, Oct 22, at 12:00 UTC! Thanks to everyone who voted! 🚀 Stay tuned! @sodex_official on X ↗
10-19 12:49	SoDEX	Other	🔵 soUSDC — the USDC Earn yield receipt. 7-day APY 4.73%. The steady one: no price risk, just yield. 🟢 SMH — tracks the US semiconductor 25 index. +60.91% over the past year. The growth play: AI infrastructure, concentrated. 🟡 VOO — tracks the S&P 500. +15.50% over the past year, and the lowest volatility of the three. Broad, boring, hard to argue with. @sodex_official on X ↗
10-19 12:08	SoDEX	Product	📊 THE VOTE IS LIVE — you pick the next Treasure Box asset You filled the replies with suggestions last week. We read every one. Three made the shortlist 👇 🔵 soUSDC — the USDC Earn yield receipt. 7-day APY 4.73%. The steady one: no price risk, just yield. 🟢 SMH — tracks the US semiconductor 25 index. +60.91% over the past year. The growth play: AI infrastructure, concentrated. 🟡 VOO — tracks the S&P 500. +15.50% over the past year, and the lowest volatility of the three. Broad, boring, hard to argue with. Vote in the poll below. ⏳ 24 hours — closes Oct 20, 12:15 UTC. The winner goes into every Treasure Box on Thursday, Oct 22, 12:00 UTC. Make your case in the replies 👇 soUSDC · 4.73% APY SMH · +60.91% 1Y VOO · +15.50% 1Y Yields and returns shown are historical and variable. Past performance is not indicative of future results. 📷 @sodex_official on X ↗
10-14 09:00	KuCoin	Listing	new market SMHUSDTM ($SMH) seen by our collector
10-07 12:34	Paragon	Product	MarketVector and Paragon have partnered to bring the MVIS US Listed Semiconductor 25 Index (#MVSMH) to Hyperliquid. para:SMH is now live 24/7. Semiconductors sit at the center of the AI buildout. More than $75 billion in assets track this benchmark through funds and ETFs globally. para:SMH references #MVSMH directly, bringing that exposure to a market that trades around the clock. Using @PythNetwork real-time pricing, the index extends through overnight, pre- and post-market sessions while maintaining the integrity of the benchmark's methodology. No ETF-level expenses or tracking differences. MarketVector indexes sit behind more than $180 billion in assets across 25+ issuers. Paragon is bringing the exposures investors already know on-chain through new markets built to trade continuously on Hyperliquid. @tradeparagon on X ↗

SMH