Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.019%

Price spread now: Gate against Backpack+0.077%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1821.822% of the position

Long on Backpack Short on Gate

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)−0.159%−$16 · spread now +0.077%, 7d avg −0.055%

Together, before fees−0.674%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.132% dearer against Backpack than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.055%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.0 days. At the pace of the last 7 days (−0.514% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02067	0.0210	pay 0.0026% / 1h	19m 12s	$50K	$192K	5x
Short	Gate SKR_USDT	0.02069	0.0100	get 0.0050% / 4h	1h 19m	$1.0M	$551K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.077%Rate

Funding earned: −$23.05
Price spread: +0.077% → −0.055%: $13.23
Slippage, 4 orders: −$157.22
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$192.04
Costs to cover: 1.822%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Gate: live order book, 3 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, 44 min ago	4.32 bp	24.3 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	8.94 bp	57.6 bp −$58	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	0.02068	+0.010%	$232K	$160K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02064	−0.174%	$9K	$21K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02069	+0.073%	$1.3M	$799K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02066	−0.053%	$28K	$34K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02068	+0.037%	$3.5M	$13.2M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02069	+0.068%	$4.4M	$5.2M	20x	as long as short
Gate SKR_USDTshort	+0.0100%	4h	0.02069	+0.077%	$1.0M	$551K	20x
MEXC SKR_USDT	+0.0100%	4h	0.02068	+0.039%	$4.3M	$473K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02066	−0.048%	$648K	$723K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02069	+0.077%	$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	0.02069	+0.068%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02064	−0.155%	$2K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02068	+0.024%	$13K	$36K	20x	as long as short
Backpack SKR_USDC_PERPlong	+0.0210%	1h	0.02067	long leg	$50K	$192K	5x
Phoenix SKR	+0.1918%	1h	0.02073	+0.256%	$4K	$10K	3x	as long as short