Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: OKX against Injective+1.501%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 OKX

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 +$7 a day on $10k at the current rate, and OKX is 1.501% dearer against Injective than usual: you sell high and buy low: +$150 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	40.650	−0.0220	get 0.0028% / 1h	59m 23s	$4K	$80	12x
Short	OKX SMCI-USDT-SWAP	41.260	0	get 0.0000% / 8h	5h 59m	$674K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +1.501%Rate

Funding earned: $46.2
Price spread: +1.501% → 0.000%: $150.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $186.24
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	2.43 bp	30.4 bp −$30	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 exchanges

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	40.650	long leg	$4K	$80	12x
Bybit SMCIUSDT	0.0000%	8h	41.250	+1.476%	$1.0M	$296K	25x	as long as short
OKX SMCI-USDT-SWAPshort	0.0000%	8h	41.260	+1.501%	$674K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.210	+1.378%	$1.5M	$1.4M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.232	+1.432%	$1.3M	$472K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.260	+1.501%	$1.6M	$264K	10x	as long as short
Paragon para:SMCI	+0.0027%	1h	41.170	+1.279%	$158K	$240K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.244	+1.461%	$40K	$14K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	41.280	+1.550%	$1.1M	$1.7M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.140	+1.205%	$462K	$614K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDT	+0.0100%	8h	41.280	+1.550%	$8K	$291K	10x	as long as short
Variational Omni SMCI	+0.0320%	8h	41.250	+1.477%	$151K	$160K	—	as long as short
BloFin SMCI-USDT	+0.0425%	8h	41.220	+1.402%	$80K	$9K	20x	as long as short
Extended SMCI-USD	+0.0440%	1h	41.266	+1.516%	$577	—	10x	as long as short
Binance SMCIUSDT	+0.0441%	8h	41.280	+1.550%	$3.4M	$5.3M	20x	as long as short
SoDEX SMCI-USD	+0.0591%	1h	41.250	+1.476%	$130	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.1356%	8h	41.214	+1.387%	$422	$165K	10x	as long as short