Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.096%

Price spread now: KuCoin against Injective+0.921%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 KuCoin

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 +$10 a day on $10k at the current rate, and KuCoin is 0.921% dearer against Injective than usual: you sell high and buy low: +$92 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	41.240	−0.0220	get 0.0028% / 1h	58m 43s	$4K	$93	12x
Short	KuCoin SMCIUSDTM	41.620	0.0100	get 0.0100% / 8h	6h 58m	$463K	$518K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.921%Rate

Funding earned: $67.2
Price spread: +0.921% → 0.000%: $92.14
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $147.32
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 54 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 KuCoin live order book, 54 min ago	18.06 bp	204.4 bp −$204	doesn't fit	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	41.240	long leg	$4K	$93	12x
Bybit SMCIUSDT	0.0000%	8h	41.610	+0.897%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.660	+1.018%	$694K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.630	+0.946%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.625	+0.934%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.660	+1.018%	$1.6M	$246K	10x	as long as short
QFEX SMCI-USD	+0.0023%	1h	41.650	+0.994%	$1.1M	$2.2M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.636	+0.960%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.650	+0.994%	$137	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.610	+0.897%	$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 SMCIUSDTMshort	+0.0100%	8h	41.620	+0.921%	$463K	$518K	20x
HTX SMCI-USDT	+0.0100%	8h	41.650	+0.994%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+1.025%	$97K	$109K	—	as long as short
Extended SMCI-USD	+0.0240%	1h	41.620	+0.920%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0241%	8h	41.618	+0.915%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+1.091%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0314%	8h	41.651	+0.998%	$422	$154K	10x	as long as short