Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Lighter RH against KuCoin+0.036%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

The price spread pays, funding is against you. Lighter RH is 0.036% dearer against KuCoin than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SMCIUSDTM	41.510	0.0100	pay 0.0100% / 8h	6h 12m	$463K	$501K	20x
Short	Lighter RH SMCI	41.525	0.0032	get 0.0004% / 1h	12m 54s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against KuCoin. 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 KuCoinbpFee Lighter RHbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$14.28
Price spread: +0.036% → 0.000%: $3.61
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$22.67
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 25 min ago; Lighter RH: no order-book sample. 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 KuCoin live order book, 25 min ago	20.51 bp	219.2 bp −$219	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH no order-book sample	—	—	—	—	—

Lighter RH: 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 16 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	41.040	−1.132%	$4K	$95	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.520	+0.024%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.580	+0.169%	$690K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.540	+0.072%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.537	+0.065%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.540	+0.072%	$1.6M	$248K	10x	as long as short
Lighter RH SMCIshort	+0.0032%	1h	41.525	+0.036%	$32K	$5K	10x
QFEX SMCI-USD	+0.0043%	1h	41.530	+0.048%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0054%	1h	41.530	+0.048%	$143	$3K	10x	as long as short
Variational Omni SMCI	+0.0064%	8h	41.562	+0.126%	$98K	$110K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTMlong	+0.0100%	8h	41.510	long leg	$463K	$501K	20x
HTX SMCI-USDT	+0.0100%	8h	41.540	+0.072%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0207%	8h	41.559	+0.118%	$611	$155K	10x	as long as short
Binance SMCIUSDT	+0.0214%	8h	41.539	+0.071%	$3.4M	$5.2M	20x	as long as short
Extended SMCI-USD	+0.0216%	1h	41.530	+0.047%	$583	$10K	10x	as long as short
Paragon para:SMCI	+0.1256%	1h	41.510	−0.001%	$159K	$265K	10x	as long as short