Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1818%/8h= +199.1% APRpaid last 24h +0.187%

Price spread now: Phoenix against Aster+0.475%75s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and Phoenix is 0.475% dearer against Aster than usual: you sell high and buy low: +$48 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 75 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	Aster SKRUSDT	0.02063	0.0100	pay 0.0050% / 4h	1h 16m	$28K	$34K	5x
Short	Phoenix SKR	0.02073	0.1918	get 0.0240% / 1h	16m 11s	$4K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now +0.475%Rate

Funding earned: $381.88
Price spread: +0.475% → 0.000%: $47.5
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $414.38
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Aster: no order-book sample; Phoenix: 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 Aster no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Aster and Phoenix: 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.

SKR on 15 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
BloFin SKR-USDT	−0.0140%	4h	0.02064	+0.029%	$233K	$160K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02061	−0.107%	$9K	$21K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02064	+0.039%	$1.3M	$805K	3x	as long as short
Aster SKRUSDTlong	+0.0100%	4h	0.02063	long leg	$28K	$34K	5x
Binance SKRUSDT	+0.0100%	4h	0.02064	+0.063%	$3.5M	$13.3M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02065	+0.078%	$4.4M	$5.3M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02065	+0.107%	$1.0M	$554K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02065	+0.078%	$4.3M	$473K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02063	−0.005%	$647K	$723K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02063	−0.019%	$1.5M	$1.3M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02066	+0.126%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02060	−0.160%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02063	+0.010%	$13K	$36K	20x	as long as short
Backpack SKR_USDC_PERP	+0.0213%	1h	0.02062	−0.058%	$50K	$192K	5x	as long as short
Phoenix SKRshort	+0.1918%	1h	0.02073	+0.475%	$4K	$10K	3x