Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.015%

Price spread now: QFEX against HTX−0.024%7-day average −0.048% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$990.994% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.024%, 7d avg −0.048%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.023% dearer against HTX than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.048%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 4 days (−0.087% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SMCI-USDT	40.990	0.0100	pay 0.0100% / 8h	1h 39m	$8K	$285K	10x
Short	QFEX SMCI-USD	40.980	0.0075	get 0.0009% / 1h	39m 55s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$5.21
Price spread: −0.024% → −0.048%: $2.34
Slippage, 4 orders: −$77.39
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$102.26
Costs to cover: 0.994%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; QFEX: live order book, 2 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 HTX live order book, 2 min ago	20.73 bp	38.2 bp −$38	72.3 bp −$723	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	3.66 bp	11.1 bp −$11	17.8 bp −$178	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	40.640	−0.854%	$4K	$89	12x	as long as short
Bitget SMCIUSDT	−0.0133%	8h	41.014	+0.059%	$1.3M	$465K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.970	−0.049%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.980	−0.024%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.960	−0.073%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.007%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.980	−0.024%	$1.6M	$263K	10x	as long as short
Binance SMCIUSDT	+0.0031%	8h	40.990	0.000%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.975	−0.037%	$32K	$5K	10x	as long as short
Extended SMCI-USD	+0.0032%	1h	40.980	−0.024%	$576	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX SMCI-USD	+0.0050%	1h	40.970	−0.049%	$134	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0056%	8h	41.030	+0.098%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.0073%	1h	40.962	−0.069%	$157K	$266K	10x	as long as short
QFEX SMCI-USDshort	+0.0075%	1h	40.980	−0.024%	$1.1M	$1.8M	10x
GRVT SMCI_USDT_Perp	+0.0079%	8h	41.010	+0.049%	$584	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.970	−0.049%	$459K	$485K	20x	as long as short
HTX SMCI-USDTlong	+0.0100%	8h	40.990	long leg	$8K	$285K	10x