Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Bitget against Injective+0.994%7-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 Bitget

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 +$7 a day on $10k at the current rate, and Bitget is 0.994% dearer against Injective than usual: you sell high and buy low: +$99 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SMCI/USDC PERP	40.730	−0.0220	get 0.0028% / 1h	30m 42s	$4K	$99	12x
Short	Bitget SMCIUSDT	41.135	0	get 0.0000% / 8h	3h 30m	$1.3M	$584K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.994%Rate

Funding earned: $46.2
Price spread: +0.994% → 0.000%: $99.44
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $133.62
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	4.13 bp	30.3 bp −$30	45.8 bp −$458	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	40.730	long leg	$4K	$99	12x
Extended SMCI-USD	0.0000%	1h	41.172	+1.085%	$576	$10K	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	41.176	+1.094%	$3.4M	$5.7M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.120	+0.958%	$1.0M	$659K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.170	+1.080%	$699K	$1.2M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.130	+0.982%	$1.6M	$1.9M	20x	as long as short
Bitget SMCIUSDTshort	0.0000%	8h	41.135	+0.994%	$1.3M	$584K	20x
Variational Omni SMCI	0.0000%	8h	41.141	+1.008%	$67K	$221K	—	as long as short
GRVT SMCI_USDT_Perp	0.0000%	8h	41.190	+1.129%	$75	$157K	10x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.170	+1.080%	$1.6M	$279K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SMCI-USDT	+0.0007%	8h	41.180	+1.105%	$79K	$9K	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.159	+1.053%	$32K	$7K	10x	as long as short
QFEX SMCI-USD	+0.0041%	1h	41.170	+1.080%	$1.1M	$2.1M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.160	+1.056%	$123	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.123	+0.966%	$158K	$264K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.100	+0.908%	$458K	$558K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.230	+1.228%	$8K	$290K	10x	as long as short