Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0426%/8h= −46.6% APRpaid last 24h −0.014%

Price spread now: Aster against Backpack−0.173%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Aster

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 against this trade now: funding costs −$13 a day on $10k at the current rate, and Aster is 0.173% cheaper against Backpack than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02107	0.0526	pay 0.0066% / 1h	44m 34s	$52K	$200K	5x
Short	Aster SKRUSDT	0.02104	0.0100	get 0.0050% / 4h	3h 44m	$26K	$32K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$89.39
Price spread: −0.173% → 0.000%: −$17.29
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$124.69
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 29 min ago; Aster: 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 Backpack live order book, 29 min ago	2.13 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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	0.02103	−0.190%	$238K	$155K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02105	−0.095%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02103	−0.214%	$9K	$22K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02109	+0.071%	$1.3M	$724K	3x	as long as short
Aster SKRUSDTshort	+0.0100%	4h	0.02104	−0.173%	$26K	$32K	5x
Binance SKRUSDT	+0.0100%	4h	0.02107	−0.024%	$3.6M	$12.4M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02106	−0.076%	$4.5M	$5.0M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02103	−0.190%	$1.0M	$526K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02107	−0.005%	$4.4M	$462K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02105	−0.114%	$681K	$685K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDT	+0.0100%	4h	0.02105	−0.123%	$1.5M	$1.2M	20x	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02103	−0.190%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02104	−0.152%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0526%	1h	0.02107	long leg	$52K	$200K	5x
Phoenix SKR	+0.1502%	1h	0.02107	−0.009%	$4K	$10K	3x	as long as short