Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1226%/8h= +134.3% APRpaid last 24h +0.059%

Price spread now: Paragon against Binance−0.050%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$970.973% of the position

Long on Binance Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.223%+$22 on $10k

Price spread, last 2 days (all we have)−0.165%−$17 · spread now −0.050%, 7d avg −0.141%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Paragon is 0.091% dearer against Binance than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.141%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.223% in total (about 11.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SMCIUSDT	41.520	0.0203	pay 0.0203% / 8h	5h 50m	$3.4M	$5.1M	20x
Short	Paragon para:SMCI	41.499	0.1429	get 0.0179% / 1h	50m 09s	$159K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.050%Rate

Funding earned: $257.55
Price spread: −0.050% → −0.141%: $9.08
Slippage, 4 orders: −$77.34
Fee Binance: 5 bp × 2 orders: −$10
Fee Paragon: 5 bp × 2 orders: −$10
Net: $169.29
Costs to cover: 0.973%
Break-even: 2.4 days

Slippage from Binance: live order book, 3 min ago; Paragon: live order book, 55 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 Binance live order book, 3 min ago	2.41 bp	14.3 bp −$14	47.7 bp −$477	doesn't fit	doesn't fit
Sell Paragon live order book, 55 min ago	28.97 bp	34.0 bp −$34	108.8 bp −$1,088	doesn't fit	doesn't fit

SMCI on 16 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	−0.891%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.500	−0.048%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.560	+0.096%	$690K	$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	41.522	+0.005%	$1.3M	$505K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.520	0.000%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.494	−0.063%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.510	−0.024%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.510	−0.024%	$142	$3K	10x	as long as short
Variational Omni SMCI	+0.0066%	8h	41.532	+0.029%	$98K	$110K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.500	−0.048%	$462K	$499K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.520	0.000%	$8K	$285K	10x	as long as short
Extended SMCI-USD	+0.0200%	1h	41.509	−0.026%	$580	$10K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0202%	8h	41.545	+0.061%	$29	$154K	10x	as long as short
Binance SMCIUSDTlong	+0.0203%	8h	41.520	long leg	$3.4M	$5.1M	20x
Paragon para:SMCIshort	+0.1429%	1h	41.499	−0.050%	$159K	$265K	10x