Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h +0.070%

Price spread now: Bybit against Extended−0.056%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.056% cheaper against Extended than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SMCI-USD	41.423	0.0256	pay 0.0032% / 1h	36m 29s	$578	$10K	10x
Short	Bybit SMCIUSDT	41.400	0	get 0.0000% / 8h	36m 29s	$1.0M	$670K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$53.76
Price spread: −0.056% → 0.000%: −$5.59
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.35
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 4 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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	6.04 bp	16.3 bp −$16	189.4 bp −$1,894	doesn't fit	doesn't fit

Extended: 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	41.000	−1.022%	$4K	$96	12x	as long as short
Bybit SMCIUSDTshort	0.0000%	8h	41.400	−0.056%	$1.0M	$670K	25x
OKX SMCI-USDT-SWAP	0.0000%	8h	41.430	+0.017%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.400	−0.056%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.399	−0.058%	$1.3M	$533K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.430	+0.017%	$1.6M	$265K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.405	−0.044%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.420	−0.008%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0060%	1h	41.420	−0.008%	$124	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.375	−0.116%	$159K	$265K	10x	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	41.390	−0.080%	$461K	$540K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.430	+0.017%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0102%	8h	41.435	+0.028%	$96K	$110K	—	as long as short
BloFin SMCI-USDT	+0.0248%	8h	41.410	−0.032%	$79K	$9K	20x	as long as short
Extended SMCI-USDlong	+0.0256%	1h	41.423	long leg	$578	$10K	10x
Binance SMCIUSDT	+0.0258%	8h	41.428	+0.012%	$3.4M	$5.5M	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0404%	8h	41.408	−0.036%	$749	$157K	10x	as long as short