Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1051%/8h= +115.1% APRpaid last 24h +0.082%

Price spread now: Paragon against Gate+0.154%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1251.251% of the position

Long on Gate Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.269%+$27 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.154%, 7d avg +0.067%

Together, before fees+0.135%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Paragon is 0.087% dearer against Gate than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.067%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.269% in total (about 14.0% 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	Gate SMCI_USDT	41.500	0	get 0.0000% / 8h	6h 37m	$1.6M	$1.6M	20x
Short	Paragon para:SMCI	41.564	0.1051	get 0.0131% / 1h	37m 21s	$160K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now +0.154%Rate

Funding earned: $220.74
Price spread: +0.154% → +0.067%: $8.7
Slippage, 4 orders: −$100.1
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paragon: 5 bp × 2 orders: −$10
Net: $104.34
Costs to cover: 1.251%
Break-even: 3.7 days

Slippage from Gate: live order book, 5 min ago; Paragon: live order book, 8 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 Gate live order book, 5 min ago	10.85 bp	37.7 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 8 min ago	28.97 bp	34.0 bp −$34	108.8 bp −$1,088	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	41.150	−0.843%	$4K	$94	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.480	−0.048%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.540	+0.096%	$688K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	41.500	long leg	$1.6M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.503	+0.007%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.550	+0.120%	$1.6M	$247K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.514	+0.034%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0043%	1h	41.520	+0.048%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.520	+0.048%	$135	$3K	10x	as long as short
Variational Omni SMCI	+0.0077%	8h	41.604	+0.250%	$97K	$109K	—	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	41.480	−0.048%	$462K	$508K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.590	+0.217%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0129%	8h	41.521	+0.050%	$855	$153K	10x	as long as short
Extended SMCI-USD	+0.0216%	1h	41.520	+0.048%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0218%	8h	41.490	−0.024%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDT	+0.0230%	8h	41.590	+0.217%	$80K	$9K	20x	as long as short
Paragon para:SMCIshort	+0.1051%	1h	41.564	+0.154%	$160K	$265K	10x