Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Bitget against Lighter RH−0.022%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.022% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 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	Lighter RH SMCI	41.401	0.0032	pay 0.0004% / 1h	12m 40s	$32K	$5K	10x
Short	Bitget SMCIUSDT	41.392	0	get 0.0000% / 8h	12m 40s	$1.3M	$529K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter RH. 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 Lighter RHbpFee BitgetbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$6.72
Price spread: −0.022% → 0.000%: −$2.17
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$20.89
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter RH: no order-book sample; Bitget: live order book, 4 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 Lighter RH no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	7.85 bp	37.8 bp −$38	41.6 bp −$416	doesn't fit	doesn't fit

Lighter RH: 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 PERP	−0.0220%	1h	41.010	−0.944%	$4K	$99	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.390	−0.027%	$1.0M	$669K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+0.046%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.380	−0.051%	$1.6M	$1.8M	20x	as long as short
Bitget SMCIUSDTshort	0.0000%	8h	41.392	−0.022%	$1.3M	$529K	20x
Phemex SMCIUSDT	0.0000%	8h	41.400	−0.002%	$1.6M	$261K	10x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	41.401	long leg	$32K	$5K	10x
QFEX SMCI-USD	+0.0041%	1h	41.410	+0.022%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.390	−0.027%	$123	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.380	−0.051%	$159K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SMCI	+0.0090%	8h	41.419	+0.043%	$96K	$109K	—	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.400	−0.002%	$462K	$536K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.400	−0.002%	$8K	$284K	10x	as long as short
BloFin SMCI-USDT	+0.0201%	8h	41.430	+0.070%	$79K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0228%	8h	41.407	+0.013%	$3.4M	$5.5M	20x	as long as short
Extended SMCI-USD	+0.0232%	1h	41.398	−0.007%	$580	$10K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0362%	8h	41.408	+0.017%	$728	$156K	10x	as long as short