Funding you earn now, next payment 04:00 UTC−0.1134%/8h= −124.2% APRpaid last 24h −0.097%
Price spread now: Bybit against Paragon+0.072%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$256as in the Funding arb table
Net, price: spread back to 7d avg − costs−$215as in the Price arb table
costs, in and out, $10k−$2242.244% of the position
Funding, last 7 days−0.312%−$31 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.072%, 7d avg −0.026%
=The price spread pays, funding is against you. Bybit is 0.098% dearer against Paragon than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.026%): +$10 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.312% in total) that is about 2.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.312% in total (about -16.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:SMCI | 41.480 | 0.1134 | pay 0.0142% / 1h | 10m 41s | $159K | $265K | 10x |
| Short | Bybit SMCIUSDT | 41.510 | 0 | get 0.0000% / 8h | 4h 10m | $1.0M | $647K | 25x |
Paragon para:SMCI
Bybit SMCIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$238.17
- Price spread: +0.072% → −0.026%
- $9.79
- Slippage, 4 orders
- −$203.36
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$452.74
- Costs to cover
- 2.244%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 15 min ago; Bybit: live order book, 5 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 Paragon live order book, 15 min ago | 53.49 bp | 62.2 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 3.61 bp | 82.6 bp −$83 | 208.0 bp −$2,080 | 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 | 41.120 | −0.868% | $4K | $95 | 12x | as long as short |
| Bybit SMCIUSDTshort | 0.0000% | 8h | 41.510 | +0.072% | $1.0M | $647K | 25x | |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.580 | +0.241% | $690K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.530 | +0.121% | $1.6M | $1.6M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.540 | +0.145% | $1.3M | $503K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.540 | +0.145% | $1.6M | $250K | 10x | as long as short |
| QFEX SMCI-USD | +0.0021% | 1h | 41.490 | +0.024% | $1.1M | $1.9M | 10x | as long as short |
| Variational Omni SMCI | +0.0030% | 8h | 41.528 | +0.115% | $98K | $110K | — | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.513 | +0.080% | $32K | $5K | 10x | as long as short |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.520 | +0.096% | $148 | $3K | 10x | as long as short |
Injective SMCI/USDC PERP
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Bitget SMCIUSDT
Phemex SMCIUSDT
QFEX SMCI-USD
Variational Omni SMCI
Lighter RH SMCI
SoDEX SMCI-USDShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.520 | +0.096% | $463K | $481K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.550 | +0.169% | $8K | $285K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0120% | 8h | 41.558 | +0.188% | $307 | $160K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0121% | 8h | 41.550 | +0.169% | $79K | $9K | 20x | as long as short |
| Extended SMCI-USD | +0.0144% | 1h | 41.528 | +0.117% | $582 | $10K | 10x | as long as short |
| Binance SMCIUSDT | +0.0148% | 8h | 41.528 | +0.116% | $3.4M | $5.2M | 20x | as long as short |
| Paragon para:SMCIlong | +0.1134% | 1h | 41.480 | long leg | $159K | $265K | 10x |
KuCoin SMCIUSDTM
HTX SMCI-USDT
GRVT SMCI_USDT_Perp
BloFin SMCI-USDT
Extended SMCI-USD
Binance SMCIUSDT