Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.019%

Price spread now: Binance against Backpack+0.014%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$930.927% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.514%−$51 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.014%, 7d avg −0.021%

Together, before fees−0.532%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.035% dearer against Backpack than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.021%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.514% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02096	0.0148	pay 0.0018% / 1h	31m 55s	$50K	$198K	5x
Short	Binance SKRUSDT	0.02096	0.0100	get 0.0050% / 4h	2h 31m	$3.6M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.014%Rate

Funding earned: −$10
Price spread: +0.014% → −0.021%: $3.52
Slippage, 4 orders: −$72.71
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$99.19
Costs to cover: 0.927%
Break-even: never at this rate

Slippage from Backpack: live order book, 36 min ago; Binance: live order book, 8 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 Backpack live order book, 36 min ago	3.01 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.13 bp	33.3 bp −$33	151.6 bp −$1,516	doesn't fit	doesn't fit

SKR on 14 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
BingX SKR-USDT	+0.0070%	4h	0.02096	−0.010%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02092	−0.196%	$9K	$21K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02096	+0.005%	$1.3M	$789K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02094	−0.070%	$28K	$33K	5x	as long as short
Binance SKRUSDTshort	+0.0100%	4h	0.02096	+0.014%	$3.6M	$13.0M	20x
Bybit SKRUSDT	+0.0100%	4h	0.02096	−0.010%	$4.5M	$5.2M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02094	−0.072%	$1.0M	$542K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02096	−0.005%	$4.3M	$470K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02093	−0.134%	$660K	$715K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02097	+0.043%	$1.5M	$1.2M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKR-USDT	+0.0100%	4h	0.02093	−0.134%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02097	+0.043%	$14K	$36K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0148%	1h	0.02096	long leg	$50K	$198K	5x
Phoenix SKR	+0.0743%	1h	0.02108	+0.606%	$4K	$10K	3x	as long as short