Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.015%

Price spread now: Gate against QFEX−0.024%7-day average 0.000% · 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−$112as in the Price arb table

costs, in and out, $10k−$1091.094% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.024%, 7d avg 0.000%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.024% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.590	0.0043	pay 0.0005% / 1h	58m 23s	$1.1M	$2.2M	10x
Short	Gate SMCI_USDT	41.580	0	get 0.0000% / 8h	6h 58m	$1.6M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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 QFEXbpFee GatebpOrdersPrice spread, now −0.024%Rate

Funding earned: −$9
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: −$84.39
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$120.76
Costs to cover: 1.094%
Break-even: never at this rate

Slippage from QFEX: live order book, 9 min ago; Gate: 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 QFEX live order book, 9 min ago	3.60 bp	11.2 bp −$11	21.5 bp −$215	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	9.61 bp	43.3 bp −$43	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	41.240	−0.842%	$4K	$93	12x	as long as short
Bybit SMCIUSDT	0.0000%	8h	41.590	0.000%	$1.0M	$648K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	41.600	+0.024%	$693K	$1.1M	20x	as long as short
Gate SMCI_USDTshort	0.0000%	8h	41.580	−0.024%	$1.6M	$1.6M	20x
Bitget SMCIUSDT	0.0000%	8h	41.601	+0.026%	$1.3M	$506K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.660	+0.168%	$1.6M	$246K	10x	as long as short
Lighter RH SMCI	+0.0032%	1h	41.636	+0.111%	$32K	$5K	10x	as long as short
QFEX SMCI-USDlong	+0.0043%	1h	41.590	long leg	$1.1M	$2.2M	10x
SoDEX SMCI-USD	+0.0050%	1h	41.650	+0.144%	$137	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.610	+0.048%	$160K	$265K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SMCIUSDTM	+0.0100%	8h	41.590	0.000%	$463K	$518K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	41.650	+0.144%	$8K	$284K	10x	as long as short
Variational Omni SMCI	+0.0104%	8h	41.663	+0.175%	$97K	$109K	—	as long as short
Extended SMCI-USD	+0.0240%	1h	41.602	+0.029%	$583	$10K	10x	as long as short
Binance SMCIUSDT	+0.0241%	8h	41.594	+0.009%	$3.4M	$5.1M	20x	as long as short
BloFin SMCI-USDT	+0.0264%	8h	41.690	+0.240%	$79K	$9K	20x	as long as short
GRVT SMCI_USDT_Perp	+0.0314%	8h	41.651	+0.148%	$422	$154K	10x	as long as short