Funding arb · Price arb /

SMCI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h −0.010%

Price spread now: Bitget against Lighter RH+0.095%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 6 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. Bitget is 0.095% dearer against Lighter RH than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SMCI	40.975	0.0032	pay 0.0004% / 1h	40m 15s	$32K	$5K	10x
Short	Bitget SMCIUSDT	41.014	−0.0133	pay 0.0133% / 8h	1h 40m	$1.3M	$465K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter RH. 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 Lighter RHbpFee BitgetbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$34.65
Price spread: +0.095% → 0.000%: $9.52
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$37.13
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter RH: 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 Lighter RH no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	3.66 bp	44.9 bp −$45	87.1 bp −$871	doesn't fit	doesn't fit

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 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	−0.818%	$4K	$89	12x	as long as short
Bitget SMCIUSDTshort	−0.0133%	8h	41.014	+0.095%	$1.3M	$465K	20x
Bybit SMCIUSDT	0.0000%	8h	40.970	−0.012%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.980	+0.012%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.960	−0.037%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.044%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.980	+0.012%	$1.6M	$263K	10x	as long as short
Binance SMCIUSDT	+0.0031%	8h	40.990	+0.037%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCIlong	+0.0032%	1h	40.975	long leg	$32K	$5K	10x
Extended SMCI-USD	+0.0032%	1h	40.981	+0.015%	$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	−0.012%	$134	$3K	10x	as long as short
BloFin SMCI-USDT	+0.0056%	8h	41.030	+0.134%	$80K	$9K	20x	as long as short
Paragon para:SMCI	+0.0073%	1h	40.962	−0.033%	$157K	$266K	10x	as long as short
QFEX SMCI-USD	+0.0075%	1h	40.980	+0.012%	$1.1M	$1.8M	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0079%	8h	41.010	+0.085%	$584	$169K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.970	−0.012%	$459K	$485K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.990	+0.037%	$8K	$285K	10x	as long as short