SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0280%/8h= −30.7% APRnext payment −$0.35 per $10,000 · paid last 24h −0.159%

Price spread now: Injective against Paragon−0.993%95s7-day average — · you buy dearer than you sell

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

Long on Paragon Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Injective is 0.993% cheaper against Paragon than usual: you would sell low and buy high (−$99 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:SMCI	41.139	0.0060	pay 0.0008% / 1h	45m 34s	$158K	$265K	10x
Short	Injective SMCI/USDC PERP	40.730	−0.0220	pay 0.0028% / 1h	45m 34s	$4K	$90	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.993%Rate

Funding earned: −$58.8
Price spread: −0.993% → 0.000%: −$99.35
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$168.17
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 30 min ago; Injective: 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, 30 min ago	28.75 bp	33.9 bp −$34	133.6 bp −$1,336	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	40.730	−0.993%	$4K	$90	12x
Bybit SMCIUSDT	0.0000%	8h	41.150	+0.027%	$1.0M	$306K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.190	+0.125%	$688K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.160	+0.052%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.181	+0.103%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.183	+0.107%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.180	+0.100%	$1.6M	$258K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.161	+0.054%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	41.180	+0.100%	$1.1M	$1.8M	10x	as long as short
BloFin SMCI-USDT	+0.0058%	8h	41.220	+0.198%	$80K	$9K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:SMCIlong	+0.0060%	1h	41.139	long leg	$158K	$265K	10x
SoDEX SMCI-USD	+0.0066%	1h	41.170	+0.076%	$151	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0067%	8h	41.174	+0.087%	$313	$165K	10x	as long as short
Extended SMCI-USD	+0.0072%	1h	41.176	+0.090%	$576	$10K	10x	as long as short
Binance SMCIUSDT	+0.0074%	8h	41.186	+0.115%	$3.4M	$5.3M	20x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.140	+0.003%	$459K	$468K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.190	+0.125%	$8K	$284K	10x	as long as short