Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.036%

Price spread now: Phemex against Extended+0.023%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.023% dearer against Extended than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SMCI-USD	41.540	0.0152	pay 0.0019% / 1h	8m 10s	$582	$10K	10x
Short	Phemex SMCIUSDT	41.550	0	get 0.0000% / 8h	4h 08m	$1.6M	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$31.92
Price spread: +0.023% → 0.000%: $2.31
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.61
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	1.20 bp	39.1 bp −$39	doesn't fit	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	41.120	−1.012%	$4K	$95	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.520	−0.049%	$1.0M	$647K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.580	+0.095%	$690K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.540	−0.001%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.540	−0.001%	$1.3M	$490K	20x	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	41.550	+0.023%	$1.6M	$249K	10x
QFEX SMCI-USD	+0.0021%	1h	41.470	−0.169%	$1.1M	$1.9M	10x	as long as short
Variational Omni SMCI	+0.0030%	8h	41.528	−0.030%	$98K	$110K	—	as long as short
Lighter RH SMCI	+0.0032%	1h	41.514	−0.064%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.540	−0.001%	$149	$3K	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	41.520	−0.049%	$464K	$482K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.560	+0.047%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0113%	8h	41.540	−0.001%	$234	$160K	10x	as long as short
Binance SMCIUSDT	+0.0151%	8h	41.554	+0.033%	$3.4M	$5.2M	20x	as long as short
Extended SMCI-USDlong	+0.0152%	1h	41.540	long leg	$582	$10K	10x
BloFin SMCI-USDT	+0.0169%	8h	41.530	−0.025%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.1102%	1h	41.471	−0.167%	$159K	$265K	10x	as long as short