Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Phemex−0.031%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Lighter RH

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—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.031% cheaper against Phemex than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SMCIUSDT	41.660	0	get 0.0000% / 8h	6h 59m	$1.6M	$246K	10x
Short	Lighter RH SMCI	41.647	0.0032	get 0.0004% / 1h	59m 00s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.031%Rate

Funding earned: $6.72
Price spread: −0.031% → 0.000%: −$3.12
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$8.4
Costs to cover: 0.120%
Break-even: 15.8 days

Slippage unknown: Phemex: live order book, 4 min ago; Lighter RH: 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 Phemex live order book, 4 min ago	2.40 bp	47.0 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH no order-book sample	—	—	—	—	—

Lighter RH: 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	41.240	−1.008%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.630	−0.072%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.660	0.000%	$694K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.630	−0.072%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.639	−0.050%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDTlong	0.0000%	8h	41.660	long leg	$1.6M	$246K	10x
QFEX SMCI-USD	+0.0023%	1h	41.650	−0.024%	$1.1M	$2.2M	10x	as long as short
Lighter RH SMCIshort	+0.0032%	1h	41.647	−0.031%	$32K	$5K	10x
SoDEX SMCI-USD	+0.0050%	1h	41.650	−0.024%	$137	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.630	−0.073%	$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	41.620	−0.096%	$463K	$518K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.650	−0.024%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.007%	$97K	$109K	—	as long as short
Extended SMCI-USD	+0.0240%	1h	41.620	−0.097%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0243%	8h	41.645	−0.037%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+0.072%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0314%	8h	41.651	−0.021%	$422	$154K	10x	as long as short