SMH

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	QFEXSMH-USD	526.18	0	0.0000% / 1h	55m 14s	$1.6M	$580K	10x	Long QFEX10% back
SHORT	Paragonpara:SMH	528.08	+0.1885	get 0.0236% / 1h	55m 14s	$140K	$51K	10x	Short Paragon

Price gap+0.361%

Funding gap+0.1885% /8h

Both sides work: funding pays +$57 a day on $10k, and the gap is 0.368% above its 7d average: +$37 more if it goes back.

If you open now and hold

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

Funding+$12+0.1885% /8h now · paid +0.123% over the last 7D

Price+$37spread +0.361% now, avg −0.007% → +0.368% if it goes back

Costs−$2,58925.887% of $10k · taker + slippage, in and out

Result−$2,540−25.40%no pointsWhat the last 7D really paid, hour by hour → backtest

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.123% in total, about +0.0058%/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+0.361%

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

3 ok · 2 to watch

Watch: Thin at this size1270.9 / 34.7 bp
At $10k entering QFEX costs 1270.9 bp, fee and slippage, 36.6× Paragon’s.
Note: Margin at max leverage$1,000 + $1,000
QFEX 10x, Paragon 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$56.54Long QFEX: 24 payments, $0.00; short Paragon: 24 payments, +$56.54.
OK: Entry gap works for you+0.361% vs −0.007%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$140K vs $1.6M OI
Paragon sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
OK: No KYC on either legQFEX No · Paragon No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0058%/8h × 21 periods+$12.27

Price spread+0.361% → −0.007% (7d avg)+$36.76

Slippage, 4 orderslive order books−$2,566.90

Fee QFEX bp × 2 orders−$20.00

Fee Paragon bp × 2 orders−$1.80

Net · 7 days · $10k−$2,539.66

Costs to cover25.887%Break-even1455.9 days

Slippage: QFEX: live order book, 6 min ago; Paragon: live order book, 29 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGQFEX157.831270.9 bp−$1,271doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTParagon5.1134.7 bp−$35198.7 bp−$1,987doesn’t fitdoesn’t fit

Closing costs about the same again.

SMH news

posts that mention SMH, from every exchangeSearch all news →

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 $180 billion in assets across 25+ issuers. Paragon is bringing the exposures investors already know on-chain through new markets built to trade continuously on Hyperliquid. @tradeparagon on X ↗
10-07 07:58	Paragon	Listing	new market para:SMH ($SMH) seen by our collector

SMH