Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Gate−1.083%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.083% cheaper against Gate than usual: you would sell low and buy high (−$108 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	Gate SMCI_USDT	41.560	0	get 0.0000% / 8h	4h 36m	$1.6M	$1.6M	20x
Short	Injective SMCI/USDC PERP	41.110	−0.0220	pay 0.0028% / 1h	36m 37s	$4K	$92	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −1.083%Rate

Funding earned: −$46.2
Price spread: −1.083% → 0.000%: −$108.28
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$169.5
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; Injective: no order-book sample. 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 Gate live order book, 1 min ago	8.42 bp	42.9 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	41.110	−1.083%	$4K	$92	12x
Bybit SMCIUSDT	0.0000%	8h	41.540	−0.048%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.580	+0.048%	$690K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	41.560	long leg	$1.6M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.526	−0.082%	$1.3M	$504K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.590	+0.072%	$1.6M	$249K	10x	as long as short
QFEX SMCI-USD	+0.0021%	1h	41.590	+0.072%	$1.1M	$1.9M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.583	+0.055%	$32K	$5K	10x	as long as short
Variational Omni SMCI	+0.0044%	8h	41.592	+0.078%	$98K	$110K	—	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.580	+0.048%	$146	$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	41.570	+0.024%	$465K	$476K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.620	+0.144%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0122%	8h	41.590	+0.072%	$114	$158K	10x	as long as short
BloFin SMCI-USDT	+0.0153%	8h	41.580	+0.048%	$80K	$9K	20x	as long as short
Extended SMCI-USD	+0.0168%	1h	41.599	+0.095%	$580	$10K	10x	as long as short
Binance SMCIUSDT	+0.0168%	8h	41.610	+0.119%	$3.4M	$5.2M	20x	as long as short
Paragon para:SMCI	+0.1056%	1h	41.537	−0.056%	$159K	$265K	10x	as long as short