Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.015%

Price spread now: QFEX against Gate−0.096%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2042.036% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 7 days+0.128%+$13 · spread now −0.096%, 7d avg 0.000%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.096% cheaper against Gate than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of 0.000%). If the spread goes back, that is −$10 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SMCI_USDT	41.630	0	get 0.0000% / 8h	7h 23m	$1.6M	$1.7M	20x
Short	QFEX SMCI-USD	41.590	0.0023	get 0.0003% / 1h	23m 01s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.096%Rate

Funding earned: $4.77
Price spread: −0.096% → 0.000%: −$9.65
Slippage, 4 orders: −$178.6
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$208.48
Costs to cover: 2.036%
Break-even: 312.9 days

Slippage from Gate: live order book, 4 min ago; QFEX: live order book, 4 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, 4 min ago	16.80 bp	137.4 bp −$137	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	3.60 bp	8.6 bp −$9	17.9 bp −$179	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	−1.153%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.600	−0.072%	$1.0M	$656K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.600	−0.072%	$694K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	41.630	long leg	$1.6M	$1.7M	20x
Bitget SMCIUSDT	0.0000%	8h	41.598	−0.077%	$1.3M	$508K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.660	+0.072%	$1.6M	$247K	10x	as long as short
QFEX SMCI-USDshort	+0.0023%	1h	41.590	−0.096%	$1.1M	$2.3M	10x
Lighter RH SMCI	+0.0032%	1h	41.597	−0.079%	$32K	$5K	10x	as long as short
Paragon para:SMCI	+0.0064%	1h	41.561	−0.167%	$160K	$265K	10x	as long as short
Variational Omni SMCI	+0.0093%	8h	41.683	+0.128%	$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	41.560	−0.168%	$462K	$526K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.680	+0.120%	$8K	$284K	10x	as long as short
SoDEX SMCI-USD	+0.0162%	1h	41.630	0.000%	$136	$3K	10x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.622	−0.019%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0240%	8h	41.633	+0.008%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0267%	8h	41.650	+0.048%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0458%	8h	41.661	+0.074%	$642	$154K	10x	as long as short