SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0037%/8h= −4.1% APRnext payment −$0.05 per $10,000 · paid last 24h −0.076%

Price spread now: QFEX against Paragon+0.049%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$810.813% of the position

Long on Paragon Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.049%, 7d avg −0.035%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.084% dearer against Paragon than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of −0.035%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days. Mind the row above: over the last 3 days funding on this pair paid +0.086%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:SMCI	41.630	0.0060	pay 0.0008% / 1h	59m 01s	$160K	$265K	10x
Short	QFEX SMCI-USD	41.650	0.0023	get 0.0003% / 1h	59m 01s	$1.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$7.83
Price spread: +0.049% → −0.035%: $8.38
Slippage, 4 orders: −$61.34
Fee Paragon: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$80.79
Costs to cover: 0.813%
Break-even: never at this rate

Slippage from Paragon: live order book, 56 min ago; QFEX: live order book, 8 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, 56 min ago	25.27 bp	30.3 bp −$30	132.5 bp −$1,325	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	3.60 bp	9.6 bp −$10	20.7 bp −$207	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	−0.936%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.630	+0.001%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.660	+0.073%	$694K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.630	+0.001%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.639	+0.023%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.660	+0.073%	$1.6M	$246K	10x	as long as short
QFEX SMCI-USDshort	+0.0023%	1h	41.650	+0.049%	$1.1M	$2.2M	10x
Lighter RH SMCI	+0.0032%	1h	41.647	+0.042%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.650	+0.049%	$137	$3K	10x	as long as short
Paragon para:SMCIlong	+0.0060%	1h	41.630	long leg	$160K	$265K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.620	−0.023%	$463K	$518K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.650	+0.049%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.080%	$97K	$109K	—	as long as short
Extended SMCI-USD	+0.0240%	1h	41.620	−0.024%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0243%	8h	41.645	+0.036%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+0.145%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0314%	8h	41.651	+0.053%	$422	$154K	10x	as long as short