Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.058%

Price spread now: BloFin against Paragon+0.147%7-day average — · you sell dearer than you buy

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

Long on Paragon Short on BloFin

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—needs both histories

The price spread pays, funding is against you. BloFin is 0.147% dearer against Paragon than usual: you sell high and buy low (spread +0.147% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:SMCI	40.940	0.0060	pay 0.0008% / 1h	23m 04s	$157K	$266K	10x
Short	BloFin SMCI-USDT	41.000	0.0035	get 0.0035% / 8h	1h 23m	$80K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Paragon. 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 ParagonbpFee BloFinbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$5.23
Price spread: +0.147% → 0.000%: $14.66
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$12.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 42 min ago; BloFin: 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 Paragon live order book, 42 min ago	28.73 bp	33.9 bp −$34	134.4 bp −$1,344	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	40.530	−1.001%	$4K	$90	12x	as long as short
Bitget SMCIUSDT	−0.0185%	8h	40.983	+0.105%	$1.3M	$502K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.980	+0.098%	$998K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.950	+0.024%	$683K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.970	+0.073%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.973	+0.080%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.990	+0.122%	$1.6M	$261K	10x	as long as short
Binance SMCIUSDT	+0.0013%	8h	40.990	+0.122%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0016%	1h	40.980	+0.098%	$573	—	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.986	+0.112%	$32K	$5K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SMCI-USDTshort	+0.0035%	8h	41.000	+0.147%	$80K	$9K	20x
SoDEX SMCI-USD	+0.0050%	1h	40.990	+0.122%	$130	$3K	10x	as long as short
Paragon para:SMCIlong	+0.0060%	1h	40.940	long leg	$157K	$266K	10x
QFEX SMCI-USD	+0.0075%	1h	40.990	+0.122%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0077%	8h	40.960	+0.049%	$272	$168K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.940	0.000%	$460K	$488K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.010	+0.171%	$8K	$285K	10x	as long as short