Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.015%

Price spread now: Bitget against QFEX−0.061%7-day average +0.047% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days+0.136%+$14 · spread now −0.061%, 7d avg +0.047%

Together, before fees+0.115%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.108% cheaper against QFEX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.047%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.250	0.0032	pay 0.0004% / 1h	14m 35s	$1.1M	$1.8M	10x
Short	Bitget SMCIUSDT	41.225	0	get 0.0000% / 8h	3h 14m	$1.3M	$501K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$6.67
Price spread: −0.061% → +0.047%: −$10.76
Slippage, 4 orders: −$49.36
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$88.79
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Bitget: live order book, 2 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 QFEX live order book, 2 min ago	2.42 bp	12.7 bp −$13	22.1 bp −$221	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	9.82 bp	19.4 bp −$19	281.0 bp −$2,810	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	40.820	−1.042%	$4K	$92	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.210	−0.097%	$1.0M	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.270	+0.048%	$686K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.220	−0.073%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDTshort	0.0000%	8h	41.225	−0.061%	$1.3M	$501K	20x
Variational Omni SMCI	0.0000%	8h	41.253	+0.007%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.260	+0.024%	$1.6M	$256K	10x	as long as short
QFEX SMCI-USDlong	+0.0032%	1h	41.250	long leg	$1.1M	$1.8M	10x
Lighter RH SMCI	+0.0032%	1h	41.230	−0.048%	$32K	$5K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0037%	8h	41.209	−0.101%	$186	$165K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	41.250	0.000%	$144	$3K	10x	as long as short
Extended SMCI-USD	+0.0080%	1h	41.218	−0.077%	$576	$10K	10x	as long as short
Binance SMCIUSDT	+0.0084%	8h	41.248	−0.004%	$3.4M	$5.3M	20x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.200	−0.121%	$461K	$474K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.280	+0.073%	$8K	$286K	10x	as long as short
BloFin SMCI-USDT	+0.0105%	8h	41.280	+0.073%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0219%	1h	41.224	−0.063%	$158K	$265K	10x	as long as short