Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.085%

Price spread now: Bitget against Paragon+0.034%46s7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1341.336% of the position

Long on Paragon Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.034%, 7d avg −0.012%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.046% dearer against Paragon than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.012%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 18 hours. The two prices were read 46 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	Paragon para:SMCI	40.924	0.0068	pay 0.0009% / 1h	37m 51s	$157K	$266K	10x
Short	Bitget SMCIUSDT	40.938	−0.0138	pay 0.0138% / 8h	1h 37m	$1.3M	$465K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Paragon. 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 ParagonbpFee BitgetbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$43.28
Price spread: +0.034% → −0.012%: $4.59
Slippage, 4 orders: −$111.64
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$172.33
Costs to cover: 1.336%
Break-even: never at this rate

Slippage from Paragon: live order book, 28 min ago; Bitget: live order book, 3 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 Paragon live order book, 28 min ago	28.73 bp	33.9 bp −$34	134.4 bp −$1,344	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.66 bp	44.9 bp −$45	87.1 bp −$871	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	−0.694%	$4K	$89	12x	as long as short
Bitget SMCIUSDTshort	−0.0138%	8h	40.938	+0.034%	$1.3M	$465K	20x
Bybit SMCIUSDT	0.0000%	8h	40.910	−0.035%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.940	+0.039%	$684K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.940	+0.039%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.168%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.950	+0.063%	$1.6M	$262K	10x	as long as short
BloFin SMCI-USDT	+0.0030%	8h	41.040	+0.283%	$80K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0030%	8h	40.949	+0.061%	$3.4M	$5.4M	20x	as long as short
Lighter RH SMCI	+0.0032%	1h	40.903	−0.052%	$32K	$5K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SMCI-USD	+0.0032%	1h	40.940	+0.039%	$573	—	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.930	+0.014%	$135	$3K	10x	as long as short
Paragon para:SMCIlong	+0.0068%	1h	40.924	long leg	$157K	$266K	10x
GRVT SMCI_USDT_Perp	+0.0075%	8h	41.000	+0.185%	$123	$170K	10x	as long as short
QFEX SMCI-USD	+0.0075%	1h	40.980	+0.136%	$1.1M	$1.8M	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.930	+0.014%	$458K	$484K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.960	+0.087%	$8K	$285K	10x	as long as short