Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.015%

Price spread now: HTX against QFEX+0.147%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$940.944% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.147%, 7d avg +0.048%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.099% dearer against QFEX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.880	0.0067	pay 0.0008% / 1h	59m 04s	$1.1M	$1.8M	10x
Short	HTX SMCI-USDT	40.940	0.0100	get 0.0100% / 8h	7h 59m	$8K	$287K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.147%Rate

Funding earned: $6.92
Price spread: +0.147% → +0.048%: $9.87
Slippage, 4 orders: −$72.4
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$77.61
Costs to cover: 0.944%
Break-even: 85.5 days

Slippage from QFEX: live order book, 3 min ago; HTX: live order book, 38 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, 3 min ago	3.67 bp	8.8 bp −$9	18.2 bp −$182	doesn't fit	doesn't fit
Sell HTX live order book, 38 min ago	20.75 bp	39.0 bp −$39	73.7 bp −$737	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	40.460	−1.027%	$4K	$86	12x	as long as short
Bitget SMCIUSDT	−0.0140%	8h	40.858	−0.054%	$1.3M	$493K	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.860	−0.049%	$996K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.860	−0.049%	$675K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.840	−0.098%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.889	+0.023%	$124K	$134K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.860	−0.049%	$1.6M	$257K	10x	as long as short
BloFin SMCI-USDT	+0.0008%	8h	40.920	+0.098%	$79K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0012%	8h	40.866	−0.035%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0016%	1h	40.840	−0.097%	$573	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.840	−0.098%	$40K	$13K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.850	−0.073%	$132	$3K	10x	as long as short
QFEX SMCI-USDlong	+0.0067%	1h	40.880	long leg	$1.1M	$1.8M	10x
GRVT SMCI_USDT_Perp	+0.0095%	8h	40.888	+0.020%	$415	$170K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	40.830	−0.122%	$458K	$530K	20x	as long as short
HTX SMCI-USDTshort	+0.0100%	8h	40.940	+0.147%	$8K	$287K	10x
Paragon para:SMCI	+0.2285%	1h	40.825	−0.135%	$157K	$264K	10x	as long as short