Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.066%

Price spread now: Bitget against Injective+1.029%91s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bitget

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 1.029% dearer against Injective than usual: you sell high and buy low: +$103 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SMCI/USDC PERP	40.640	−0.0220	get 0.0028% / 1h	43m 43s	$4K	$89	12x
Short	Bitget SMCIUSDT	41.058	−0.0129	pay 0.0129% / 8h	1h 43m	$1.3M	$466K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +1.029%Rate

Funding earned: $19.11
Price spread: +1.029% → 0.000%: $102.85
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $109.94
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	5.85 bp	57.1 bp −$57	86.7 bp −$867	doesn't fit	doesn't fit

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 PERPlong	−0.0220%	1h	40.640	long leg	$4K	$89	12x
Bitget SMCIUSDTshort	−0.0129%	8h	41.058	+1.029%	$1.3M	$466K	20x
Bybit SMCIUSDT	0.0000%	8h	40.990	+0.861%	$998K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.080	+1.083%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.020	+0.935%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.023	+0.942%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.040	+0.984%	$1.6M	$263K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.996	+0.876%	$32K	$5K	10x	as long as short
Binance SMCIUSDT	+0.0037%	8h	41.037	+0.978%	$3.4M	$5.4M	20x	as long as short
Extended SMCI-USD	+0.0040%	1h	41.031	+0.962%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SMCI-USDT	+0.0050%	8h	41.050	+1.009%	$80K	$9K	20x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.010	+0.910%	$137	$3K	10x	as long as short
QFEX SMCI-USD	+0.0075%	1h	41.010	+0.910%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0085%	8h	41.079	+1.081%	$596	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.000	+0.886%	$459K	$486K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.020	+0.935%	$8K	$285K	10x	as long as short
Paragon para:SMCI	+0.0104%	1h	40.980	+0.838%	$157K	$266K	10x	as long as short