Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Variational Omni against Gate−0.065%7-day average +0.053% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.065%, 7d avg +0.053%

Together, before fees+0.048%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.118% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SMCI_USDT	40.910	0	get 0.0000% / 8h	2h 25m	$1.5M	$1.6M	20x
Short	Variational Omni SMCI	40.883	0	get 0.0000% / 8h	2h 25m	$116K	$130K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → +0.053%: −$11.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.83
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; Variational Omni: RFQ quote, 63 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 Gate live order book, 1 min ago	13.45 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 63 min ago	5.71 bp	doesn't fit	89.1 bp −$891	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	40.600	−0.758%	$4K	$91	12x	as long as short
Bitget SMCIUSDT	−0.0126%	8h	40.929	+0.046%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.900	−0.024%	$996K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.900	−0.024%	$679K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	40.910	long leg	$1.5M	$1.6M	20x
Variational Omni SMCIshort	0.0000%	8h	40.883	−0.065%	$116K	$130K	—
Phemex SMCIUSDT	0.0000%	8h	40.900	−0.024%	$1.6M	$260K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.902	−0.020%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.890	−0.049%	$150	$3K	10x	as long as short
Binance SMCIUSDT	+0.0051%	8h	40.910	−0.001%	$3.4M	$5.3M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SMCI-USD	+0.0056%	1h	40.887	−0.057%	$573	$10K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	40.910	0.000%	$1.1M	$1.8M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.898	−0.031%	$157K	$266K	10x	as long as short
BloFin SMCI-USDT	+0.0067%	8h	40.950	+0.098%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0073%	8h	40.990	+0.196%	$427	$166K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.890	−0.049%	$456K	$465K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.910	0.000%	$8K	$285K	10x	as long as short