Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h −0.097%

Price spread now: Injective against BloFin−0.708%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 −$9 a day on $10k at the current rate, and Injective is 0.708% cheaper against BloFin than usual: you would sell low and buy high (−$71 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	BloFin SMCI-USDT	40.940	0.0321	pay 0.0321% / 8h	6h 15m	$79K	$9K	20x
Short	Injective SMCI/USDC PERP	40.650	0.0033	get 0.0004% / 1h	15m 05s	$4K	$84	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.708%Rate

Funding earned: −$60.41
Price spread: −0.708% → 0.000%: −$70.84
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$143.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

BloFin and 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 exchanges

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
Bybit SMCIUSDT	0.0000%	8h	40.900	−0.098%	$996K	$296K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.920	−0.049%	$667K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	−0.049%	$1.5M	$1.4M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	40.897	−0.105%	$1.3M	$472K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.960	+0.049%	$1.6M	$260K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.950	+0.024%	$40K	$14K	10x	as long as short
Injective SMCI/USDC PERPshort	+0.0033%	1h	40.650	−0.708%	$4K	$84	12x
Paragon para:SMCI	+0.0060%	1h	40.880	−0.146%	$157K	$240K	10x	as long as short
QFEX SMCI-USD	+0.0067%	1h	40.950	+0.024%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.900	−0.098%	$458K	$601K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDT	+0.0100%	8h	40.960	+0.049%	$8K	$291K	10x	as long as short
Variational Omni SMCI	+0.0212%	8h	40.971	+0.076%	$150K	$160K	—	as long as short
BloFin SMCI-USDTlong	+0.0321%	8h	40.940	long leg	$79K	$9K	20x
Extended SMCI-USD	+0.0328%	1h	40.957	+0.043%	$574	—	10x	as long as short
Binance SMCIUSDT	+0.0330%	8h	40.970	+0.073%	$3.4M	$5.3M	20x	as long as short
SoDEX SMCI-USD	+0.0407%	1h	40.950	+0.024%	$134	$3K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.1275%	8h	40.915	−0.062%	$521	$166K	10x	as long as short