Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.096%

Price spread now: Injective against KuCoin−1.288%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 1.288% cheaper against KuCoin than usual: you would sell low and buy high (−$129 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	KuCoin SMCIUSDTM	41.160	0.0100	pay 0.0100% / 8h	2h 07m	$462K	$472K	20x
Short	Injective SMCI/USDC PERP	40.630	−0.0220	pay 0.0028% / 1h	7m 18s	$4K	$93	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −1.288%Rate

Funding earned: −$67.2
Price spread: −1.288% → 0.000%: −$128.77
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$207.99
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 51 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 KuCoin live order book, 51 min ago	14.62 bp	223.1 bp −$223	doesn't fit	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	40.630	−1.288%	$4K	$93	12x
Bitget SMCIUSDT	−0.0163%	8h	41.160	0.000%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.130	−0.073%	$1.0M	$292K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.200	+0.097%	$687K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.160	0.000%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.183	+0.055%	$117K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.170	+0.024%	$1.6M	$262K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.178	+0.044%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	41.190	+0.073%	$1.1M	$1.8M	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.128	−0.078%	$158K	$266K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SMCIUSDT	+0.0063%	8h	41.190	+0.073%	$3.4M	$5.4M	20x	as long as short
Extended SMCI-USD	+0.0064%	1h	41.178	+0.044%	$576	—	10x	as long as short
BloFin SMCI-USDT	+0.0075%	8h	41.180	+0.049%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0092%	8h	41.160	0.000%	$103	$167K	10x	as long as short
KuCoin SMCIUSDTMlong	+0.0100%	8h	41.160	long leg	$462K	$472K	20x
HTX SMCI-USDT	+0.0100%	8h	41.200	+0.097%	$8K	$285K	10x	as long as short
SoDEX SMCI-USD	+0.0135%	1h	41.190	+0.073%	$144	$3K	10x	as long as short