Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h −0.032%

Price spread now: Bitget against Backpack+0.071%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1221.222% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.531%−$53 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.071%, 7d avg −0.043%

Together, before fees−0.676%−$68 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 0.114% dearer against Backpack than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.043%. Mind the row above: over the last 7 days funding on this pair cost −0.531%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02107	0.0045	pay 0.0006% / 1h	8m 31s	$53K	$212K	5x
Short	Bitget SKRUSDT	0.02109	0.0100	get 0.0050% / 4h	1h 08m	$1.6M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.071%Rate

Funding earned: $11.47
Price spread: +0.071% → −0.043%: $11.42
Slippage, 4 orders: −$100.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.26
Costs to cover: 1.222%
Break-even: 67.6 days

Slippage from Backpack: live order book, 30 min ago; Bitget: live order book, 4 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, 30 min ago	3.81 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	8.06 bp	32.6 bp −$33	doesn't fit	doesn't fit	doesn't fit

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	0.02120	+0.603%	$241K	$166K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0045%	1h	0.02107	long leg	$53K	$212K	5x
Lighter SKR	+0.0096%	1h	0.02106	−0.038%	$8K	$26K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02109	+0.085%	$1.4M	$1.4M	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02110	+0.121%	$25K	$118K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02109	+0.085%	$3.7M	$27.2M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02109	+0.090%	$4.8M	$10.5M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02109	+0.100%	$998K	$1.7M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02108	+0.028%	$5.0M	$832K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02108	+0.038%	$716K	$1.5M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKRUSDTshort	+0.0100%	4h	0.02109	+0.071%	$1.6M	$3.5M	20x
BingX SKR-USDT	+0.0100%	4h	0.02109	+0.076%	—	$2.8M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02105	−0.100%	$2K	$3.2M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02110	+0.142%	$14K	$40K	20x	as long as short
Phoenix SKR	+0.0377%	1h	0.02107	0.000%	$4K	$10K	3x	as long as short