SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0219%/8h= +24.0% APRnext payment +$2.19 per $10,000 · paid last 24h +0.032%

Price spread now: Binance against Phemex+0.024%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1061.064% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 2 days (all we have)−0.044%−$4 · spread now +0.024%, 7d avg +0.006%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.19 per $10,000. 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	Phemex SMCIUSDT	41.710	0	get 0.0000% / 8h	7h 45m	$1.6M	$253K	10x
Short	Binance SMCIUSDT	41.720	0.0219	get 0.0219% / 8h	7h 45m	$3.4M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.024%Rate

Funding earned: $46.06
Price spread: +0.024% → +0.006%: $1.85
Slippage, 4 orders: −$84.4
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.5
Costs to cover: 1.064%
Break-even: 15.9 days

Slippage from Phemex: live order book, 3 min ago; Binance: 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 Phemex live order book, 3 min ago	2.40 bp	37.8 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.40 bp	13.3 bp −$13	47.3 bp −$473	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	41.170	−1.295%	$4K	$95	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.700	−0.024%	$1.0M	$665K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.740	+0.072%	$695K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.690	−0.048%	$1.6M	$1.7M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.682	−0.067%	$1.3M	$512K	20x	as long as short
Phemex SMCIUSDTlong	0.0000%	8h	41.710	long leg	$1.6M	$253K	10x
QFEX SMCI-USD	+0.0023%	1h	41.720	+0.024%	$1.1M	$2.3M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.696	−0.034%	$32K	$5K	10x	as long as short
Variational Omni SMCI	+0.0055%	8h	41.744	+0.080%	$97K	$109K	—	as long as short
Paragon para:SMCI	+0.0060%	1h	41.660	−0.120%	$160K	$265K	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	41.650	−0.144%	$464K	$530K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.670	−0.096%	$8K	$284K	10x	as long as short
Extended SMCI-USD	+0.0216%	1h	41.711	+0.003%	$583	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0217%	8h	41.710	0.000%	$79K	$9K	20x	as long as short
Binance SMCIUSDTshort	+0.0219%	8h	41.720	+0.024%	$3.4M	$5.2M	20x
GRVT SMCI_USDT_Perp	+0.0400%	8h	41.643	−0.161%	$749	$156K	10x	as long as short
SoDEX SMCI-USD	+0.0407%	1h	41.700	−0.024%	$125	$3K	10x	as long as short