Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Gate−0.271%7-day average — · you buy dearer than you sell

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

Long on Gate 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 −$7 a day on $10k at the current rate, and Injective is 0.271% cheaper against Gate than usual: you would sell low and buy high (−$27 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	Gate SMCI_USDT	40.570	0	get 0.0000% / 8h	7h 20m	$1.5M	$1.4M	20x
Short	Injective SMCI/USDC PERP	40.460	−0.0220	pay 0.0028% / 1h	20m 52s	$4K	$86	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.271%Rate

Funding earned: −$46.2
Price spread: −0.271% → 0.000%: −$27.11
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$88.33
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	16.03 bp	138.2 bp −$138	doesn't fit	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	40.460	−0.271%	$4K	$86	12x
Bitget SMCIUSDT	−0.0064%	8h	40.571	+0.002%	$1.2M	$510K	20x	as long as short
BloFin SMCI-USDT	−0.0009%	8h	40.600	+0.074%	$80K	$9K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.622	+0.127%	$569	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.633	+0.156%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.570	0.000%	$988K	$299K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.600	+0.074%	$675K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	40.570	long leg	$1.5M	$1.4M	20x
Variational Omni SMCI	0.0000%	8h	40.644	+0.183%	$149K	$160K	—	as long as short
GRVT SMCI_USDT_Perp	0.0000%	8h	40.491	−0.194%	$518	$169K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex SMCIUSDT	0.0000%	8h	40.600	+0.074%	$1.6M	$259K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.551	−0.047%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.590	+0.049%	$136	$3K	10x	as long as short
QFEX SMCI-USD	+0.0054%	1h	40.590	+0.049%	$1.1M	$1.7M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.510	−0.148%	$456K	$547K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.630	+0.148%	$8K	$289K	10x	as long as short
Paragon para:SMCI	+0.0635%	1h	40.510	−0.148%	$156K	$241K	10x	as long as short