SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0196%/8h= +21.5% APRnext payment +$1.96 per $10,000 · paid last 24h +0.032%

Price spread now: Binance against Phemex+0.022%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1391.390% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 2 days (all we have)−0.041%−$4 · spread now +0.022%, 7d avg +0.005%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.96 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	Phemex SMCIUSDT	41.480	0	get 0.0000% / 8h	5h 48m	$1.6M	$246K	10x
Short	Binance SMCIUSDT	41.489	0.0196	get 0.0196% / 8h	5h 48m	$3.4M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.022%Rate

Funding earned: $41.26
Price spread: +0.022% → +0.005%: $1.67
Slippage, 4 orders: −$117.02
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$96.08
Costs to cover: 1.390%
Break-even: 23.3 days

Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 4 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 Phemex live order book, 5 min ago	3.61 bp	48.9 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.41 bp	15.1 bp −$15	56.2 bp −$562	doesn't fit	doesn't fit

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	41.150	−0.796%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.480	0.000%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.520	+0.096%	$690K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.490	+0.024%	$1.6M	$1.6M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.520	+0.096%	$1.3M	$505K	20x	as long as short
Phemex SMCIUSDTlong	0.0000%	8h	41.480	long leg	$1.6M	$246K	10x
Lighter RH SMCI	+0.0032%	1h	41.490	+0.024%	$32K	$5K	10x	as long as short
QFEX SMCI-USD	+0.0048%	1h	41.470	−0.024%	$1.1M	$2.2M	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	41.490	+0.024%	$143	$3K	10x	as long as short
Variational Omni SMCI	+0.0066%	8h	41.532	+0.125%	$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 SMCIUSDTM	+0.0100%	8h	41.480	0.000%	$462K	$498K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.490	+0.024%	$8K	$285K	10x	as long as short
GRVT SMCI_USDT_Perp	+0.0188%	8h	41.549	+0.167%	$587	$154K	10x	as long as short
Binance SMCIUSDTshort	+0.0196%	8h	41.489	+0.022%	$3.4M	$5.2M	20x
Extended SMCI-USD	+0.0200%	1h	41.481	+0.002%	$580	$10K	10x	as long as short
Paragon para:SMCI	+0.1388%	1h	41.490	+0.024%	$159K	$265K	10x	as long as short