Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX−0.048%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1951.951% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now −0.048%, 7d avg +0.006%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.054% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SMCI-USDT-SWAP	41.600	0	get 0.0000% / 8h	6h 57m	$693K	$1.1M	20x
Short	Bybit SMCIUSDT	41.580	0	get 0.0000% / 8h	6h 57m	$1.0M	$648K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.006%: −$5.42
Slippage, 4 orders: −$174.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$200.53
Costs to cover: 1.951%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 3 min ago.

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 OKX live order book, 4 min ago	6.00 bp	20.6 bp −$21	4100.3 bp −$41.0K	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.60 bp	96.6 bp −$97	213.2 bp −$2,132	doesn't fit	doesn't fit

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	41.240	−0.865%	$4K	$93	12x	as long as short
Bybit SMCIUSDTshort	0.0000%	8h	41.580	−0.048%	$1.0M	$648K	25x
OKX SMCI-USDT-SWAPlong	0.0000%	8h	41.600	long leg	$693K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.580	−0.048%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.600	0.000%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.600	0.000%	$1.6M	$245K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.573	−0.065%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0043%	1h	41.570	−0.072%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.590	−0.024%	$138	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.566	−0.082%	$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 SMCIUSDTM	+0.0100%	8h	41.590	−0.024%	$463K	$518K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.610	+0.024%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.151%	$97K	$109K	—	as long as short
Binance SMCIUSDT	+0.0238%	8h	41.596	−0.009%	$3.4M	$5.1M	20x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.590	−0.023%	$583	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0255%	8h	41.580	−0.048%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0282%	8h	41.652	+0.126%	$422	$154K	10x	as long as short