SMCI

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0015%/8h= +1.7% APRnext payment +$0.02 per $10,000 · paid last 24h −0.078%

Price spread now: Injective against QFEX−1.047%105s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 1.047% cheaper against QFEX than usual: you would sell low and buy high (spread −1.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$105 on $10k: about 8 months of funding at the current rate ($0 a day). The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	41.080	0.0018	pay 0.0002% / 1h	43m 26s	$1.1M	$1.8M	10x
Short	Injective SMCI/USDC PERP	40.650	0.0033	get 0.0004% / 1h	43m 26s	$4K	$76	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.047%Rate

Funding earned: $3.2
Price spread: −1.047% → 0.000%: −$104.67
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$111.49
Costs to cover: 0.100%
Break-even: 250.6 days

Slippage unknown: QFEX: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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, 2 min ago	2.43 bp	10.5 bp −$11	20.3 bp −$203	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SMCI on 17 exchanges

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
Bybit SMCIUSDT	0.0000%	8h	41.070	−0.024%	$998K	$294K	25x	as long as short
Gate SMCI_USDT	0.0000%	8h	41.060	−0.049%	$1.5M	$1.3M	20x	as long as short
Bitget SMCIUSDT	0.0000%	8h	41.062	−0.044%	$1.3M	$437K	20x	as long as short
Phemex SMCIUSDT	0.0000%	8h	41.100	+0.049%	$1.6M	$262K	10x	as long as short
QFEX SMCI-USDlong	+0.0018%	1h	41.080	long leg	$1.1M	$1.8M	10x
Lighter RH SMCI	+0.0032%	1h	41.045	−0.085%	$40K	$14K	10x	as long as short
Injective SMCI/USDC PERPshort	+0.0033%	1h	40.650	−1.047%	$4K	$76	12x
SoDEX SMCI-USD	+0.0050%	1h	41.060	−0.049%	$135	$3K	10x	as long as short
Paragon para:SMCI	+0.0060%	1h	41.031	−0.119%	$158K	$241K	10x	as long as short
KuCoin SMCIUSDTM	+0.0100%	8h	41.040	−0.097%	$460K	$682K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SMCI-USDT	+0.0100%	8h	41.120	+0.097%	$8K	$296K	10x	as long as short
OKX SMCI-USDT-SWAP	+0.0103%	8h	41.060	−0.049%	$666K	$1.1M	20x	as long as short
Variational Omni SMCI	+0.0558%	8h	41.040	−0.099%	$150K	$159K	—	as long as short
BloFin SMCI-USDT	+0.0638%	8h	41.040	−0.097%	$80K	$9K	20x	as long as short
Binance SMCIUSDT	+0.0639%	8h	41.100	+0.049%	$3.4M	$5.3M	20x	as long as short
Extended SMCI-USD	+0.0640%	1h	41.086	+0.015%	$574	—	10x	as long as short
GRVT SMCI_USDT_Perp	+0.1063%	8h	41.046	−0.082%	$236	$166K	10x	as long as short