Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.012%

Price spread now: QFEX against BloFin0.000%99s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on QFEX

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—needs 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: −$4 a day on $10k at the current rate. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SMCI-USDT	41.490	0.0179	pay 0.0179% / 8h	5h 25m	$80K	$9K	20x
Short	QFEX SMCI-USD	41.490	0.0048	get 0.0006% / 1h	25m 43s	$1.1M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$27.46
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$49.46
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; QFEX: live order book, 1 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 BloFin no order-book sample	—	—	—	—	—
Sell QFEX live order book, 1 min ago	3.61 bp	11.0 bp −$11	18.9 bp −$189	doesn't fit	doesn't fit

BloFin: 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	41.130	−0.868%	$4K	$94	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.500	+0.024%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.520	+0.072%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.500	+0.024%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.501	+0.027%	$1.3M	$505K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.520	+0.072%	$1.6M	$248K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.499	+0.022%	$32K	$5K	10x	as long as short
QFEX SMCI-USDshort	+0.0048%	1h	41.490	0.000%	$1.1M	$2.1M	10x
SoDEX SMCI-USD	+0.0050%	1h	41.500	+0.024%	$142	$3K	10x	as long as short
Variational Omni SMCI	+0.0051%	8h	41.506	+0.040%	$98K	$110K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.490	0.000%	$462K	$486K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.520	+0.072%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0132%	8h	41.532	+0.100%	$152	$155K	10x	as long as short
BloFin SMCI-USDTlong	+0.0179%	8h	41.490	long leg	$80K	$9K	20x
Binance SMCIUSDT	+0.0181%	8h	41.513	+0.055%	$3.4M	$5.2M	20x	as long as short
Extended SMCI-USD	+0.0184%	1h	41.502	+0.029%	$580	$10K	10x	as long as short
Paragon para:SMCI	+0.1327%	1h	41.500	+0.023%	$159K	$265K	10x	as long as short