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: Phemex against OKX+0.096%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1761.755% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now +0.096%, 7d avg +0.007%

Together, before fees−0.122%−$12 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: Phemex is 0.089% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SMCI-USDT-SWAP	41.580	0	get 0.0000% / 8h	4h 34m	$690K	$1.1M	20x
Short	Phemex SMCIUSDT	41.620	0	get 0.0000% / 8h	4h 34m	$1.6M	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.007%: $8.94
Slippage, 4 orders: −$153.53
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$166.59
Costs to cover: 1.755%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 4 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, 2 min ago	2.41 bp	48.0 bp −$48	4555.5 bp −$45.6K	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.60 bp	55.4 bp −$55	doesn't fit	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	41.110	−1.130%	$4K	$92	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.540	−0.096%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAPlong	0.0000%	8h	41.580	long leg	$690K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	41.560	−0.048%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.528	−0.125%	$1.3M	$504K	20x	as long as short
Phemex SMCIUSDTshort	0.0000%	8h	41.620	+0.096%	$1.6M	$249K	10x
QFEX SMCI-USD	+0.0021%	1h	41.550	−0.072%	$1.1M	$1.9M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.585	+0.012%	$32K	$5K	10x	as long as short
Variational Omni SMCI	+0.0042%	8h	41.603	+0.055%	$98K	$110K	—	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.580	0.000%	$146	$3K	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	41.570	−0.024%	$464K	$479K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.620	+0.096%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0133%	8h	41.590	+0.024%	$109	$158K	10x	as long as short
Extended SMCI-USD	+0.0168%	1h	41.600	+0.049%	$580	$10K	10x	as long as short
Binance SMCIUSDT	+0.0170%	8h	41.611	+0.073%	$3.4M	$5.2M	20x	as long as short
BloFin SMCI-USDT	+0.0185%	8h	41.630	+0.120%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.1019%	1h	41.537	−0.104%	$159K	$265K	10x	as long as short