Funding you earn now, next payment 06:00 UTC−0.0225%/8h= −24.7% APRpaid last 24h −0.015%
Price spread now: Bitget against QFEX−0.100%46s7-day average +0.045% · 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—prices read too far apart to compare
costs, in and out, $10k−$1121.122% of the position
Funding, last 4 days (all we have)−0.022%−$2 on $10k
+Price spread, last 7 days+0.134%+$13 · spread now −0.100%, 7d avg +0.045%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.145% cheaper against QFEX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.045%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.022% in total (about -2.2% a year). A funding rate is set anew for every payment. 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 | QFEX SMCI-USD | 41.190 | 0.0056 | pay 0.0007% / 1h | 10m 42s | $1.1M | $1.8M | 10x |
| Short | Bitget SMCIUSDT | 41.149 | −0.0169 | pay 0.0169% / 8h | 2h 10m | $1.3M | $501K | 20x |
QFEX SMCI-USD
Bitget SMCIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against QFEX. 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
- −$47.32
- Price spread: −0.100% → +0.045%
- −$14.48
- Slippage, 4 orders
- −$90.22
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$174.02
- Costs to cover
- 1.122%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 1 min ago; Bitget: live order book, 1 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 QFEX live order book, 1 min ago | 3.64 bp | 8.6 bp −$9 | 16.9 bp −$169 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 8.99 bp | 76.9 bp −$77 | doesn't fit | 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 | 40.630 | −1.360% | $4K | $93 | 12x | as long as short |
| Bitget SMCIUSDTshort | −0.0169% | 8h | 41.149 | −0.100% | $1.3M | $501K | 20x | |
| Bybit SMCIUSDT | 0.0000% | 8h | 41.100 | −0.218% | $1.0M | $307K | 25x | as long as short |
| OKX SMCI-USDT-SWAP | 0.0000% | 8h | 41.170 | −0.049% | $683K | $1.1M | 20x | as long as short |
| Gate SMCI_USDT | 0.0000% | 8h | 41.120 | −0.170% | $1.5M | $1.6M | 20x | as long as short |
| Variational Omni SMCI | 0.0000% | 8h | 41.183 | −0.017% | $117K | $127K | — | as long as short |
| Phemex SMCIUSDT | 0.0000% | 8h | 41.170 | −0.049% | $1.6M | $260K | 10x | as long as short |
| Lighter RH SMCI | +0.0032% | 1h | 41.143 | −0.114% | $32K | $5K | 10x | as long as short |
| BloFin SMCI-USDT | +0.0046% | 8h | 41.130 | −0.146% | $79K | $9K | 20x | as long as short |
| Extended SMCI-USD | +0.0056% | 1h | 41.158 | −0.077% | $576 | — | 10x | as long as short |
Injective SMCI/USDC PERP
Bybit SMCIUSDT
OKX SMCI-USDT-SWAP
Gate SMCI_USDT
Variational Omni SMCI
Phemex SMCIUSDT
Lighter RH SMCI
BloFin SMCI-USDT
Extended SMCI-USDShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX SMCI-USDlong | +0.0056% | 1h | 41.190 | long leg | $1.1M | $1.8M | 10x | |
| GRVT SMCI_USDT_Perp | +0.0057% | 8h | 41.037 | −0.370% | $113 | $167K | 10x | as long as short |
| Binance SMCIUSDT | +0.0057% | 8h | 41.170 | −0.049% | $3.4M | $5.3M | 20x | as long as short |
| Paragon para:SMCI | +0.0060% | 1h | 41.096 | −0.228% | $158K | $266K | 10x | as long as short |
| KuCoin SMCIUSDTM | +0.0100% | 8h | 41.110 | −0.194% | $460K | $472K | 20x | as long as short |
| HTX SMCI-USDT | +0.0100% | 8h | 41.210 | +0.049% | $8K | $285K | 10x | as long as short |
| SoDEX SMCI-USD | +0.0106% | 1h | 41.160 | −0.073% | $150 | $3K | 10x | as long as short |
GRVT SMCI_USDT_Perp
Binance SMCIUSDT
Paragon para:SMCI
KuCoin SMCIUSDTM
HTX SMCI-USDT
SoDEX SMCI-USD