Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h +0.012%

Price spread now: BloFin against QFEX−0.073%7-day average — · you buy dearer than you sell

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

Long on QFEX Short on BloFin

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 −$3 a day on $10k at the current rate, and BloFin is 0.073% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.900	0.0067	pay 0.0008% / 1h	4m 08s	$1.1M	$1.8M	10x
Short	BloFin SMCI-USDT	40.870	−0.0028	pay 0.0028% / 8h	4m 08s	$79K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$19.92
Price spread: −0.073% → 0.000%: −$7.33
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; BloFin: 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 QFEX live order book, 3 min ago	3.67 bp	9.4 bp −$9	18.5 bp −$185	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	40.460	−1.076%	$4K	$90	12x	as long as short
Bitget SMCIUSDT	−0.0150%	8h	40.891	−0.022%	$1.3M	$501K	20x	as long as short
BloFin SMCI-USDTshort	−0.0028%	8h	40.870	−0.073%	$79K	$9K	20x
Extended SMCI-USD	0.0000%	1h	40.899	−0.003%	$573	—	10x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.840	−0.147%	$995K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.880	−0.049%	$675K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.870	−0.073%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.894	−0.013%	$124K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.910	+0.024%	$1.6M	$259K	10x	as long as short
Binance SMCIUSDT	+0.0001%	8h	40.910	+0.024%	$3.4M	$5.3M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.870	−0.073%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.900	0.000%	$132	$3K	10x	as long as short
QFEX SMCI-USDlong	+0.0067%	1h	40.900	long leg	$1.1M	$1.8M	10x
GRVT SMCI_USDT_Perp	+0.0076%	8h	40.879	−0.051%	$457	$170K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.850	−0.122%	$459K	$525K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.920	+0.049%	$8K	$287K	10x	as long as short
Paragon para:SMCI	+0.0256%	1h	40.853	−0.115%	$157K	$264K	10x	as long as short