Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.015%

Price spread now: Gate against QFEX+0.120%7-day average 0.000% · 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−$192as in the Price arb table

costs, in and out, $10k−$2042.036% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days−0.152%−$15 · spread now +0.120%, 7d avg 0.000%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.121% dearer against QFEX than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of 0.000%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.590	0.0023	pay 0.0003% / 1h	23m 28s	$1.1M	$2.3M	10x
Short	Gate SMCI_USDT	41.640	0	get 0.0000% / 8h	7h 23m	$1.6M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.120%Rate

Funding earned: −$4.77
Price spread: +0.120% → 0.000%: $12.06
Slippage, 4 orders: −$178.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$196.32
Costs to cover: 2.036%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	3.60 bp	8.8 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	16.80 bp	48.8 bp −$49	doesn't fit	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	41.150	−1.058%	$4K	$96	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.600	+0.024%	$1.0M	$657K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.600	+0.024%	$694K	$1.1M	20x	as long as short
Gate SMCI_USDTshort	0.0000%	8h	41.640	+0.120%	$1.6M	$1.7M	20x
Bitget SMCIUSDT	0.0000%	8h	41.593	+0.007%	$1.3M	$508K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.630	+0.096%	$1.6M	$247K	10x	as long as short
QFEX SMCI-USDlong	+0.0023%	1h	41.590	long leg	$1.1M	$2.3M	10x
Lighter RH SMCI	+0.0032%	1h	41.596	+0.014%	$32K	$5K	10x	as long as short
Paragon para:SMCI	+0.0064%	1h	41.561	−0.071%	$160K	$265K	10x	as long as short
Variational Omni SMCI	+0.0093%	8h	41.683	+0.224%	$97K	$109K	—	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	41.550	−0.096%	$463K	$526K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.640	+0.120%	$8K	$284K	10x	as long as short
SoDEX SMCI-USD	+0.0182%	1h	41.590	0.000%	$136	$3K	10x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.587	−0.006%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0240%	8h	41.604	+0.033%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0270%	8h	41.680	+0.216%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0458%	8h	41.661	+0.171%	$642	$154K	10x	as long as short