Funding you earn now, next payment 03:00 UTC−0.1279%/8h= −140.1% APRnext payment −$1.60 per $10,000 · paid last 24h −0.076%
Price spread now: QFEX against Paragon−0.023%7-day average −0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$880.876% of the position
Funding, last 4 days (all we have)+0.071%+$7 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.023%, 7d avg −0.033%
=The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: −$38 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.071%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.071% in total (about 7.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.60 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:SMCI | 41.500 | 0.1327 | pay 0.0166% / 1h | 25m 22s | $159K | $265K | 10x |
| Short | QFEX SMCI-USD | 41.490 | 0.0048 | get 0.0006% / 1h | 25m 22s | $1.1M | $2.1M | 10x |
Paragon para:SMCI
QFEX SMCI-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$268.69
- Price spread: −0.023% → −0.033%
- $1.01
- Slippage, 4 orders
- −$67.58
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$355.26
- Costs to cover
- 0.876%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 10 min ago; QFEX: live order book, 2 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, 10 min ago | 28.97 bp | 34.0 bp −$34 | 148.6 bp −$1,486 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 2 min ago | 3.61 bp | 11.0 bp −$11 | 18.9 bp −$189 | 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 | 41.130 | −0.891% | $4K | $94 | 12x | as long as short |
| Bybit SMCIUSDT | 0.0000% | 8h | 41.500 | +0.001% | $1.0M | $648K | 25x | as long as short |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.520 | +0.049% | $689K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.500 | +0.001% | $1.6M | $1.6M | 20x | as long as short |
| Bitget SMCIUSDT | 0.0000% | 8h | 41.501 | +0.003% | $1.3M | $505K | 20x | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.520 | +0.049% | $1.6M | $248K | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.499 | −0.001% | $32K | $5K | 10x | as long as short |
| QFEX SMCI-USDshort | +0.0048% | 1h | 41.490 | −0.023% | $1.1M | $2.1M | 10x | |
| SoDEX SMCI-USD | +0.0050% | 1h | 41.500 | +0.001% | $142 | $3K | 10x | as long as short |
| Variational Omni SMCI | +0.0051% | 8h | 41.506 | +0.017% | $98K | $110K | — | as long as short |
Injective SMCI/USDC PERP
Bybit SMCIUSDT
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Bitget SMCIUSDT
Phemex SMCIUSDT
Lighter RH SMCI
SoDEX SMCI-USD
Variational Omni SMCIShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.490 | −0.023% | $462K | $485K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.520 | +0.049% | $8K | $285K | 10x | as long as short |
| GRVT SMCI_USDT_Perp | +0.0115% | 8h | 41.520 | +0.049% | $502 | $155K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0179% | 8h | 41.490 | −0.023% | $80K | $9K | 20x | as long as short |
| Binance SMCIUSDT | +0.0181% | 8h | 41.515 | +0.037% | $3.4M | $5.2M | 20x | as long as short |
| Extended SMCI-USD | +0.0184% | 1h | 41.502 | +0.006% | $580 | $10K | 10x | as long as short |
| Paragon para:SMCIlong | +0.1327% | 1h | 41.500 | long leg | $159K | $265K | 10x |
KuCoin SMCIUSDTM
HTX SMCI-USDT
GRVT SMCI_USDT_Perp
BloFin SMCI-USDT
Binance SMCIUSDT
Extended SMCI-USD