Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.015%

Price spread now: QFEX against Gate+0.024%55s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1091.094% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 7 days+0.007%+$1 · spread now +0.024%, 7d avg 0.000%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.024% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of 0.000%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SMCI_USDT	41.580	0	get 0.0000% / 8h	6h 57m	$1.6M	$1.6M	20x
Short	QFEX SMCI-USD	41.590	0.0043	get 0.0005% / 1h	57m 45s	$1.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $9
Price spread: +0.024% → 0.000%: $2.37
Slippage, 4 orders: −$84.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$98.02
Costs to cover: 1.094%
Break-even: 83.2 days

Slippage from Gate: live order book, 5 min ago; QFEX: live order book, 9 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	9.61 bp	45.3 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	3.60 bp	9.6 bp −$10	20.7 bp −$207	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	41.240	−0.818%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.580	0.000%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.600	+0.048%	$693K	$1.1M	20x	as long as short
Gate SMCI_USDTlong	0.0000%	8h	41.580	long leg	$1.6M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.600	+0.048%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.590	+0.024%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.570	−0.024%	$32K	$5K	10x	as long as short
QFEX SMCI-USDshort	+0.0043%	1h	41.590	+0.024%	$1.1M	$2.2M	10x
SoDEX SMCI-USD	+0.0050%	1h	41.600	+0.048%	$138	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.566	−0.034%	$160K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.580	0.000%	$463K	$518K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.600	+0.048%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.199%	$97K	$109K	—	as long as short
Binance SMCIUSDT	+0.0238%	8h	41.591	+0.026%	$3.4M	$5.1M	20x	as long as short
Extended SMCI-USD	+0.0240%	1h	41.575	−0.013%	$583	$10K	10x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+0.265%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0314%	8h	41.651	+0.172%	$422	$154K	10x	as long as short