Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.016%

Price spread now: Variational Omni against SoDEX+0.055%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.055% dearer against SoDEX than usual: you sell high and buy low (spread +0.055% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SMCI-USD	41.160	0.0106	pay 0.0013% / 1h	10m 32s	$150	$3K	10x
Short	Variational Omni SMCI	41.183	0	get 0.0000% / 8h	2h 10m	$117K	$127K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now +0.055%Rate

Funding earned: −$22.3
Price spread: +0.055% → 0.000%: $5.54
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.77
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 14 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 14 min ago	5.75 bp	doesn't fit	94.6 bp −$946	doesn't fit	doesn't fit

SoDEX: 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	40.630	−1.288%	$4K	$93	12x	as long as short
Bitget SMCIUSDT	−0.0167%	8h	41.145	−0.036%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.100	−0.146%	$1.0M	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.170	+0.024%	$683K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.130	−0.073%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCIshort	0.0000%	8h	41.183	+0.055%	$117K	$127K	—
Phemex SMCIUSDT	0.0000%	8h	41.170	+0.024%	$1.6M	$260K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.143	−0.041%	$32K	$5K	10x	as long as short
BloFin SMCI-USDT	+0.0046%	8h	41.130	−0.073%	$79K	$9K	20x	as long as short
Extended SMCI-USD	+0.0056%	1h	41.159	−0.003%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SMCI-USD	+0.0056%	1h	41.150	−0.024%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0057%	8h	41.037	−0.298%	$113	$167K	10x	as long as short
Binance SMCIUSDT	+0.0057%	8h	41.170	+0.024%	$3.4M	$5.3M	20x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.096	−0.155%	$158K	$266K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.110	−0.121%	$460K	$472K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.210	+0.121%	$8K	$285K	10x	as long as short
SoDEX SMCI-USDlong	+0.0106%	1h	41.160	long leg	$150	$3K	10x