Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.096%

Price spread now: Injective against HTX−1.038%7-day average — · you buy dearer than you sell

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

Long on HTX 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 −$10 a day on $10k at the current rate, and Injective is 1.038% cheaper against HTX than usual: you would sell low and buy high (−$104 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	HTX SMCI-USDT	41.430	0.0100	pay 0.0100% / 8h	36m 17s	$8K	$284K	10x
Short	Injective SMCI/USDC PERP	41.000	−0.0220	pay 0.0028% / 1h	36m 17s	$4K	$96	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now −1.038%Rate

Funding earned: −$67.2
Price spread: −1.038% → 0.000%: −$103.79
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$183.01
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 41 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 HTX live order book, 41 min ago	21.76 bp	49.5 bp −$50	84.4 bp −$844	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	41.000	−1.038%	$4K	$96	12x
Bybit SMCIUSDT	0.0000%	8h	41.400	−0.072%	$1.0M	$670K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.430	0.000%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.400	−0.072%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.399	−0.075%	$1.3M	$533K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.430	0.000%	$1.6M	$265K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.405	−0.060%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.420	−0.024%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0051%	1h	41.400	−0.072%	$124	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.375	−0.133%	$159K	$265K	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	41.390	−0.097%	$461K	$540K	20x	as long as short
HTX SMCI-USDTlong	+0.0100%	8h	41.430	long leg	$8K	$284K	10x
Variational Omni SMCI	+0.0107%	8h	41.425	−0.011%	$96K	$109K	—	as long as short
BloFin SMCI-USDT	+0.0248%	8h	41.410	−0.048%	$79K	$9K	20x	as long as short
Extended SMCI-USD	+0.0256%	1h	41.424	−0.015%	$578	$10K	10x	as long as short
Binance SMCIUSDT	+0.0258%	8h	41.430	+0.001%	$3.4M	$5.5M	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0404%	8h	41.408	−0.052%	$749	$157K	10x	as long as short