Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: KuCoin against Backpack−0.056%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$844as in the Funding arb table

Net, price: spread back to 7d avg − costs−$818as in the Price arb table

costs, in and out, $10k−$8078.068% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.056%, 7d avg +0.052%

Together, before fees−0.271%−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.108% cheaper against Backpack than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SKR_USDC_PERP	0.02132	0.0100	pay 0.0013% / 1h	25m 58s	$51K	$227K	5x
Short	KuCoin SKRUSDTM	0.02130	0.0100	get 0.0050% / 4h	2h 25m	$689K	$686K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → +0.052%: −$10.82
Slippage, 4 orders: −$784.82
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$817.64
Costs to cover: 8.068%
Break-even: never at this rate

Slippage from Backpack: live order book, 62 min ago; KuCoin: live order book, 57 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, 62 min ago	2.87 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 57 min ago	9.01 bp	448.5 bp −$448	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	0.02132	+0.033%	$240K	$153K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02128	−0.164%	$14K	$17K	3x	as long as short
Hyperliquid SKR	+0.0100%	1h	0.02134	+0.108%	$1.4M	$732K	3x	as long as short
Aster SKRUSDT	+0.0100%	4h	0.02129	−0.096%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02133	+0.089%	$3.6M	$11.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02134	+0.113%	$4.6M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02129	−0.099%	$1.0M	$531K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02132	+0.038%	$4.4M	$490K	20x	as long as short
KuCoin SKRUSDTMshort	+0.0100%	4h	0.02130	−0.056%	$689K	$686K	20x
Bitget SKRUSDT	+0.0100%	4h	0.02133	+0.047%	$1.5M	$1.1M	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	0.02135	+0.183%	—	$2.4M	—	as long as short
Backpack SKR_USDC_PERPlong	+0.0100%	1h	0.02132	long leg	$51K	$227K	5x
SunX SKR-USDT	+0.0100%	4h	0.02125	−0.314%	$1K	$2.3M	20x	as long as short
HTX SKR-USDT	+0.0100%	4h	0.02131	−0.033%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.1507%	1h	0.02130	−0.052%	$4K	$10K	3x	as long as short