Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.127%

Price spread now: Paragon against Gate0.000%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs−$281as in the Price arb table

costs, in and out, $10k−$2742.738% of the position

Long on Gate Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.270%+$27 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now 0.000%, 7d avg +0.069%

Together, before fees+0.321%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.069% cheaper against Gate than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.069%). If the spread goes back, that is −$7 on $10k: about 3.8 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.270% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SMCI_USDT	41.380	0	get 0.0000% / 8h	12m 22s	$1.6M	$1.8M	20x
Short	Paragon para:SMCI	41.380	0.0060	get 0.0008% / 1h	12m 22s	$159K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now 0.000%Rate

Funding earned: $12.6
Price spread: 0.000% → +0.069%: −$6.9
Slippage, 4 orders: −$248.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$268.07
Costs to cover: 2.738%
Break-even: 155.9 days

Slippage from Gate: live order book, 5 min ago; Paragon: live order book, 53 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 Gate live order book, 5 min ago	6.04 bp	160.8 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 53 min ago	28.89 bp	33.9 bp −$34	57.0 bp −$570	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	41.010	−0.894%	$4K	$99	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.390	+0.024%	$1.0M	$669K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.420	+0.097%	$689K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	41.380	long leg	$1.6M	$1.8M	20x
Bitget SMCIUSDT	0.0000%	8h	41.392	+0.029%	$1.3M	$529K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.400	+0.048%	$1.6M	$261K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.401	+0.051%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.410	+0.072%	$1.1M	$2.3M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.390	+0.024%	$123	$3K	10x	as long as short
Paragon para:SMCIshort	+0.0060%	1h	41.380	0.000%	$159K	$265K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SMCI	+0.0090%	8h	41.419	+0.094%	$96K	$109K	—	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.400	+0.048%	$462K	$536K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.400	+0.048%	$8K	$284K	10x	as long as short
BloFin SMCI-USDT	+0.0201%	8h	41.430	+0.121%	$79K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0228%	8h	41.406	+0.062%	$3.4M	$5.5M	20x	as long as short
Extended SMCI-USD	+0.0232%	1h	41.398	+0.044%	$580	$10K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0362%	8h	41.408	+0.068%	$728	$156K	10x	as long as short