Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0294%/8h= +32.2% APRpaid last 24h +0.098%

Price spread now: Binance against Injective+1.016%77s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Binance is 1.016% dearer against Injective than usual: you sell high and buy low: +$102 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 77 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	Injective SMCI/USDC PERP	40.800	−0.0220	get 0.0028% / 1h	5m 58s	$4K	$94	12x
Short	Binance SMCIUSDT	41.215	0.0074	get 0.0074% / 8h	3h 05m	$3.4M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +1.016%Rate

Funding earned: $61.67
Price spread: +1.016% → 0.000%: $101.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $153.25
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 2 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.21 bp	15.9 bp −$16	54.2 bp −$542	doesn't fit	doesn't fit

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 PERPlong	−0.0220%	1h	40.800	long leg	$4K	$94	12x
Bybit SMCIUSDT	0.0000%	8h	41.170	+0.907%	$1.0M	$307K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.200	+0.980%	$688K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.180	+0.931%	$1.5M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.189	+0.953%	$1.3M	$501K	20x	as long as short
Variational Omni SMCI	0.0000%	8h	41.218	+1.024%	$107K	$120K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.210	+1.005%	$1.6M	$256K	10x	as long as short
QFEX SMCI-USD	+0.0032%	1h	41.170	+0.907%	$1.1M	$1.8M	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.173	+0.914%	$32K	$5K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0039%	8h	41.148	+0.853%	$270	$165K	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	41.180	+0.931%	$147	$3K	10x	as long as short
Extended SMCI-USD	+0.0072%	1h	41.189	+0.955%	$576	$10K	10x	as long as short
Binance SMCIUSDTshort	+0.0074%	8h	41.215	+1.016%	$3.4M	$5.3M	20x
BloFin SMCI-USDT	+0.0082%	8h	41.160	+0.882%	$79K	$9K	20x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.150	+0.858%	$459K	$474K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.230	+1.054%	$8K	$285K	10x	as long as short
Paragon para:SMCI	+0.0183%	1h	41.137	+0.826%	$158K	$265K	10x	as long as short