SMH funding rates and arbitrage
Updated 2026-11-11 23:01 UTC
Best SMH arbitrage after every cost
No SMH pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
SMH funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Hyperliquid | para:SMH | 0.0813% | 1 h | +712.5% | −3.9% | $56.1K | 2026-11-12 00:00 |
| Crypto.com | SMHUSD-PERP | 0.0052% | 1 h | +45.5% | +39.5% | $2K | 2026-11-12 00:00 |
| Hyperliquid | xyz:SMH | 0.0014% | 1 h | +12.1% | +7.9% | $2.9M | 2026-11-12 00:00 |
| BingX | NCSKSMH2USD-USDT | 0.0105% | 8 h | +11.5% | +12.3% | $936.9K | 2026-11-12 00:00 |
| HTX | SMH-USDT | 0.0100% | 8 h | +10.9% | +11.0% | $14.5K | 2026-11-12 00:00 |
| OKX | SMH-USDT-SWAP | 0.0094% | 8 h | +10.3% | −0.4% | $638.5K | 2026-11-12 00:00 |
| Bitunix | SMHUSDT | 0.0020% | 8 h | +2.2% | −0.2% | — | 2026-11-12 00:00 |
| Bybit | SMHUSDT | 0.0000% | 8 h | 0.0% | +6.7% | $482.6K | 2026-11-12 00:00 |
| KuCoin | SMHUSDTM | 0.0000% | 8 h | 0.0% | 0.0% | $7.2K | 2026-11-12 00:00 |
| MEXC | SMH_USDT | 0.0000% | 8 h | 0.0% | +0.9% | $278.9K | 2026-11-12 00:00 |
| Bitget | SMHUSDT | 0.0000% | 8 h | 0.0% | −0.1% | $1.2M | 2026-11-12 00:00 |
| LBank | SMHUSDT | 0.0000% | 8 h | 0.0% | +9.5% | — | 2026-11-12 00:00 |
| Binance | SMHUSDT | 0.0000% | 8 h | 0.0% | +0.9% | $1.9M | 2026-11-12 00:00 |
| Gate | SMH_USDT | 0.0000% | 8 h | 0.0% | 0.0% | $199.5K | 2026-11-12 00:00 |
| QFEX | SMH-USD | -0.0001% | 1 h | −1.2% | — | $2.6M | 2026-11-11 23:59 |
Cost to enter $10,000 of SMH
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Binance | SMHUSDT | 7.2 bp * | top of book only |
| Gate | SMH_USDT | 8.5 bp | top of book only |
| BingX | NCSKSMH2USD-USDT | 9.4 bp | top of book only |
| OKX | SMH-USDT-SWAP | 9.9 bp * | top of book only |
| Bitget | SMHUSDT | 10.0 bp | top of book only |
| Hyperliquid | xyz:SMH | 10.3 bp | top of book only |
| Bybit | SMHUSDT | 12.4 bp | top of book only |
| MEXC | SMH_USDT | 14.6 bp | top of book only |
| KuCoin | SMHUSDTM | 20.0 bp | top of book only |
| HTX | SMH-USDT | 61.6 bp * | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
Questions
Is SMH funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no SMH pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest SMH funding rate?
Hyperliquid at +712.5% a year (0.0813% every 1 h); the lowest is QFEX at −1.2%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.