Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: KuCoin against Lighter RH+0.027%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.027% dearer against Lighter RH than usual: you sell high and buy low: +$3 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	Lighter RH SMCI	40.889	0.0032	pay 0.0004% / 1h	31m 27s	$40K	$13K	10x
Short	KuCoin SMCIUSDTM	40.900	0.0100	get 0.0100% / 8h	31m 27s	$460K	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.027%Rate

Funding earned: $14.28
Price spread: +0.027% → 0.000%: $2.69
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $4.97
Costs to cover: 0.120%
Break-even: 4.6 days

Slippage unknown: Lighter RH: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	12.23 bp	325.8 bp −$326	doesn't fit	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	40.570	−0.780%	$4K	$88	12x	as long as short
Bitget SMCIUSDT	−0.0151%	8h	40.935	+0.112%	$1.3M	$502K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.920	+0.076%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.940	+0.125%	$677K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	+0.076%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.947	+0.142%	$125K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.950	+0.149%	$1.6M	$259K	10x	as long as short
Extended SMCI-USD	+0.0008%	1h	40.939	+0.123%	$573	—	10x	as long as short
Binance SMCIUSDT	+0.0009%	8h	40.950	+0.149%	$3.4M	$5.3M	20x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	40.889	long leg	$40K	$13K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SMCI-USDT	+0.0034%	8h	41.000	+0.271%	$79K	$9K	20x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.950	+0.149%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0085%	8h	40.959	+0.171%	$487	$169K	10x	as long as short
SoDEX SMCI-USD	+0.0099%	1h	40.930	+0.100%	$131	$3K	10x	as long as short
KuCoin SMCIUSDTMshort	+0.0100%	8h	40.900	+0.027%	$460K	$504K	20x
HTX SMCI-USDT	+0.0100%	8h	40.970	+0.198%	$8K	$287K	10x	as long as short
Paragon para:SMCI	+0.0119%	1h	40.884	−0.011%	$157K	$266K	10x	as long as short