Funding arb · Price arb /

SKR

all SKR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h −0.011%

Price spread now: HTX against Backpack+0.394%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and HTX is 0.394% dearer against Backpack than usual: you sell high and buy low: +$39 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.504%, 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	0.02083	−0.0052	get 0.0006% / 1h	33m 08s	$49K	$212K	5x
Short	HTX SKR-USDT	0.02091	0.0100	get 0.0050% / 4h	1h 33m	$14K	$37K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.394%Rate

Funding earned: $31.86
Price spread: +0.394% → 0.000%: $39.37
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $49.23
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Backpack: live order book, 50 min ago; HTX: 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, 50 min ago	1.65 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	0.02087	+0.192%	$235K	$151K	20x	as long as short
Backpack SKR_USDC_PERPlong	−0.0052%	1h	0.02083	long leg	$49K	$212K	5x
Lighter SKR	+0.0096%	1h	0.02078	−0.211%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02083	+0.038%	$1.3M	$737K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02085	+0.097%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02083	+0.038%	$3.5M	$12.0M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02084	+0.043%	$4.4M	$4.9M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02083	+0.019%	$1.0M	$529K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02083	+0.024%	$4.3M	$480K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02084	+0.048%	$672K	$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	0.02085	+0.101%	$1.5M	$1.1M	20x	as long as short
BingX SKR-USDT	+0.0100%	4h	0.02084	+0.067%	—	$2.4M	—	as long as short
SunX SKR-USDT	+0.0100%	4h	0.02079	−0.197%	$2K	$2.3M	20x	as long as short
HTX SKR-USDTshort	+0.0100%	4h	0.02091	+0.394%	$14K	$37K	20x
Phoenix SKR	+0.0379%	1h	0.02093	+0.499%	$4K	$10K	3x	as long as short