Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.015%

Price spread now: KuCoin against QFEX0.000%7-day average −0.050% · 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−$431as in the Price arb table

costs, in and out, $10k−$4374.365% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now 0.000%, 7d avg −0.050%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.050% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.500	0.0048	pay 0.0006% / 1h	21m 51s	$1.1M	$2.1M	10x
Short	KuCoin SMCIUSDTM	41.500	0.0100	get 0.0100% / 8h	5h 21m	$462K	$484K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.95
Price spread: 0.000% → −0.050%: $5.04
Slippage, 4 orders: −$414.54
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$420.54
Costs to cover: 4.365%
Break-even: 275.7 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 1 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, 5 min ago	3.61 bp	8.6 bp −$9	16.1 bp −$161	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	14.46 bp	247.9 bp −$248	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	41.130	−0.892%	$4K	$94	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.500	0.000%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.520	+0.048%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.510	+0.024%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.514	+0.034%	$1.3M	$505K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.520	+0.048%	$1.6M	$248K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.503	+0.007%	$32K	$5K	10x	as long as short
QFEX SMCI-USDlong	+0.0048%	1h	41.500	long leg	$1.1M	$2.1M	10x
SoDEX SMCI-USD	+0.0050%	1h	41.510	+0.024%	$143	$3K	10x	as long as short
Variational Omni SMCI	+0.0051%	8h	41.506	+0.016%	$98K	$110K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTMshort	+0.0100%	8h	41.500	0.000%	$462K	$484K	20x
HTX SMCI-USDT	+0.0100%	8h	41.540	+0.096%	$8K	$284K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0115%	8h	41.520	+0.048%	$502	$155K	10x	as long as short
Binance SMCIUSDT	+0.0175%	8h	41.520	+0.048%	$3.4M	$5.2M	20x	as long as short
Extended SMCI-USD	+0.0176%	1h	41.509	+0.022%	$580	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0198%	8h	41.540	+0.096%	$33K	$9K	20x	as long as short
Paragon para:SMCI	+0.1311%	1h	41.500	−0.001%	$159K	$265K	10x	as long as short