Funding you earn now, next payment 04:00 UTC+0.1019%/8h= +111.5% APRpaid last 24h +0.097%
Price spread now: Paragon against Bybit−0.008%7-day average +0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$188as in the Funding arb table
Net, price: spread back to 7d avg − costs−$223as in the Price arb table
costs, in and out, $10k−$2192.192% of the position
Funding, last 7 days+0.312%+$31 on $10k
+Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.008%, 7d avg +0.026%
=Funding pays, the price is against you. Paragon is 0.034% cheaper against Bybit than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.026%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$31 a day). At the pace of the last 7 days (+0.312% in total) that is about 18 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.312% in total (about 16.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SMCIUSDT | 41.540 | 0 | get 0.0000% / 8h | 4h 34m | $1.0M | $648K | 25x |
| Short | Paragon para:SMCI | 41.537 | 0.1019 | get 0.0127% / 1h | 34m 27s | $159K | $265K | 10x |
Bybit SMCIUSDT
Paragon para:SMCIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $213.91
- Price spread: −0.008% → +0.026%
- −$3.38
- Slippage, 4 orders
- −$198.17
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$8.64
- Costs to cover
- 2.192%
- Break-even
- 7.3 days
Slippage from Bybit: live order book, 1 min ago; Paragon: live order book, 61 min ago.
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 Bybit live order book, 1 min ago | 3.61 bp | 71.7 bp −$72 | 193.2 bp −$1,932 | doesn't fit | doesn't fit |
| Sell Paragon live order book, 61 min ago | 28.97 bp | 34.0 bp −$34 | 126.9 bp −$1,269 | doesn't fit | doesn't fit |
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 | 41.110 | −1.035% | $4K | $92 | 12x | as long as short |
| Bybit SMCIUSDTlong | 0.0000% | 8h | 41.540 | long leg | $1.0M | $648K | 25x | |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.580 | +0.096% | $690K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.560 | +0.048% | $1.6M | $1.6M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.528 | −0.029% | $1.3M | $504K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.600 | +0.144% | $1.6M | $249K | 10x | as long as short |
| QFEX SMCI-USD | +0.0021% | 1h | 41.550 | +0.024% | $1.1M | $1.9M | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.585 | +0.108% | $32K | $5K | 10x | as long as short |
| Variational Omni SMCI | +0.0042% | 8h | 41.603 | +0.151% | $98K | $110K | — | as long as short |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.580 | +0.096% | $146 | $3K | 10x | as long as short |
Injective SMCI/USDC PERP
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Bitget SMCIUSDT
Phemex SMCIUSDT
QFEX SMCI-USD
Lighter RH SMCI
Variational Omni SMCI
SoDEX SMCI-USDShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.570 | +0.072% | $464K | $479K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.620 | +0.193% | $8K | $285K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0133% | 8h | 41.590 | +0.120% | $109 | $158K | 10x | as long as short |
| Extended SMCI-USD | +0.0168% | 1h | 41.598 | +0.140% | $580 | $10K | 10x | as long as short |
| Binance SMCIUSDT | +0.0170% | 8h | 41.611 | +0.170% | $3.4M | $5.2M | 20x | as long as short |
| BloFin SMCI-USDT | +0.0185% | 8h | 41.630 | +0.217% | $80K | $9K | 20x | as long as short |
| Paragon para:SMCIshort | +0.1019% | 1h | 41.537 | −0.008% | $159K | $265K | 10x |
KuCoin SMCIUSDTM
HTX SMCI-USDT
GRVT SMCI_USDT_Perp
Extended SMCI-USD
Binance SMCIUSDT
BloFin SMCI-USDT