Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.098%

Price spread now: Injective against Binance−0.782%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

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 −$8 a day on $10k at the current rate, and Injective is 0.782% cheaper against Binance than usual: you would sell low and buy high (−$78 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	Binance SMCIUSDT	40.920	0.0050	pay 0.0050% / 8h	2h 24m	$3.4M	$5.3M	20x
Short	Injective SMCI/USDC PERP	40.600	−0.0220	pay 0.0028% / 1h	24m 41s	$4K	$91	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −0.782%Rate

Funding earned: −$56.68
Price spread: −0.782% → 0.000%: −$78.2
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$144.9
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 min ago; Injective: 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 Binance live order book, 13 min ago	3.65 bp	12.0 bp −$12	60.4 bp −$604	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	40.600	−0.782%	$4K	$91	12x
Bitget SMCIUSDT	−0.0150%	8h	40.929	+0.022%	$1.3M	$501K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.890	−0.073%	$995K	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.910	−0.024%	$679K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.930	+0.024%	$1.5M	$1.6M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.883	−0.090%	$116K	$130K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.930	+0.024%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.899	−0.051%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0048%	1h	40.919	−0.003%	$573	$10K	10x	as long as short
Binance SMCIUSDTlong	+0.0050%	8h	40.920	long leg	$3.4M	$5.3M	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	40.920	0.000%	$151	$3K	10x	as long as short
QFEX SMCI-USD	+0.0056%	1h	40.920	0.000%	$1.1M	$1.8M	10x	as long as short
BloFin SMCI-USDT	+0.0060%	8h	40.940	+0.049%	$79K	$9K	20x	as long as short
Paragon para:SMCI	+0.0060%	1h	40.909	−0.028%	$157K	$266K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0073%	8h	40.990	+0.171%	$427	$166K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.890	−0.073%	$456K	$465K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.900	−0.049%	$8K	$285K	10x	as long as short