Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: OKX against Variational Omni+0.012%7-day average −0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.296%+$30 · spread now +0.012%, 7d avg −0.021%

Together, before fees+0.273%+ Points / potential airdropVariational Omni: Active · farm board+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.034% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SMCI	40.845	0	get 0.0000% / 8h	6m 24s	$124K	$134K	—
Short	OKX SMCI-USDT-SWAP	40.850	0	get 0.0000% / 8h	6m 24s	$674K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Variational Omni. 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 Variational OmnibpFee OKXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.021%: $3.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$6.64
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 8 min ago; OKX: live order book, 5 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 Variational Omni RFQ quote, 8 min ago	5.75 bp	doesn't fit	77.1 bp −$771	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	6.12 bp	44.6 bp −$45	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	40.460	−0.942%	$4K	$90	12x	as long as short
Bitget SMCIUSDT	−0.0154%	8h	40.874	+0.071%	$1.3M	$501K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.880	+0.086%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.890	+0.110%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.830	−0.036%	$995K	$293K	25x	as long as short
OKX SMCI-USDT-SWAPshort	0.0000%	8h	40.850	+0.012%	$674K	$1.1M	20x
Gate SMCI_USDT	0.0000%	8h	40.850	+0.012%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCIlong	0.0000%	8h	40.845	long leg	$124K	$134K	—
Phemex SMCIUSDT	0.0000%	8h	40.880	+0.086%	$1.6M	$258K	10x	as long as short
BloFin SMCI-USDT	+0.0020%	8h	40.870	+0.061%	$79K	$9K	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	40.865	+0.049%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.860	+0.037%	$132	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0067%	8h	40.849	+0.009%	$148	$170K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.890	+0.110%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.850	+0.012%	$459K	$522K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.870	+0.061%	$8K	$287K	10x	as long as short
Paragon para:SMCI	+0.0259%	1h	40.863	+0.043%	$157K	$266K	10x	as long as short