Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0438%/8h= +47.9% APRpaid last 24h +0.093%

Price spread now: BloFin against Injective+1.166%7-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 BloFin

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 +$13 a day on $10k at the current rate, and BloFin is 1.166% dearer against Injective than usual: you sell high and buy low: +$117 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SMCI/USDC PERP	41.170	−0.0220	get 0.0028% / 1h	45m 39s	$4K	$95	12x
Short	BloFin SMCI-USDT	41.650	0.0218	get 0.0218% / 8h	7h 45m	$79K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +1.166%Rate

Funding earned: $91.95
Price spread: +1.166% → 0.000%: $116.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $196.52
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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	41.170	long leg	$4K	$95	12x
Bybit SMCIUSDT	0.0000%	8h	41.690	+1.263%	$1.0M	$665K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.740	+1.385%	$695K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.690	+1.263%	$1.6M	$1.7M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.682	+1.244%	$1.3M	$512K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.720	+1.336%	$1.6M	$253K	10x	as long as short
QFEX SMCI-USD	+0.0023%	1h	41.740	+1.385%	$1.1M	$2.3M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.695	+1.275%	$32K	$5K	10x	as long as short
Variational Omni SMCI	+0.0055%	8h	41.744	+1.393%	$97K	$109K	—	as long as short
Paragon para:SMCI	+0.0060%	1h	41.660	+1.190%	$160K	$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	41.640	+1.142%	$464K	$531K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.720	+1.336%	$8K	$284K	10x	as long as short
Extended SMCI-USD	+0.0216%	1h	41.705	+1.299%	$583	$10K	10x	as long as short
BloFin SMCI-USDTshort	+0.0218%	8h	41.650	+1.166%	$79K	$9K	20x
Binance SMCIUSDT	+0.0219%	8h	41.714	+1.320%	$3.4M	$5.2M	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0400%	8h	41.643	+1.149%	$749	$156K	10x	as long as short
SoDEX SMCI-USD	+0.0430%	1h	41.720	+1.336%	$124	$3K	10x	as long as short